Money continues to roll in to Missouri and to homeowners who’ve lost their homes through foreclosure.
Missouri’s lawsuit against the five biggest banks in Missouri has produced $83 million so far. Another $115 million will be arriving in the next year or so.
The first $38 million has gone into the state bank account. Another $45 milion is being used to reduce loan principles, or for refinancing, short sales,or other borrower assistance programs.
Attorney General Chris Koster says another $28 million are coming in now to continue that effort.
Millions more will be coming in later that will go directly to thousands of Missourians who were foreclosed on by the five big banks. Koster’s office will be sending out letters telling those people next month. But he wants anyone who’s been foreclosed on by Bank of America, Citigroup, JP Morgan Chase, Wells Fargo, and Ally Financial to contact his office to make sure they’re on the list.
