AP News

AG: RI has received $26.7M in mortgage relief


PROVIDENCE, R.I. (AP) — Rhode Island Attorney General Peter Kilmartin says homeowners in the state have so far received $26.7 million from a national mortgage settlement.

Kilmartin's office on Wednesday said that according to the five banks involved in the settlement, 355 homeowners received the money between March 1 and June 30. Another $31 million is pending.

The relief includes loan forgiveness, modifications, refinancing and short sale assistance. The average help per borrower was about $75,000.

The numbers were included in a progress report issued Tuesday by the monitor of the settlement. The amounts are based on numbers that banks reported themselves.

The banks say they have paid out $10.56 billion nationally so far in the settlement, with the average assistance for each borrower at about $76,000.


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