Ohioans To Receive About $103M In Relief Through Bank of America Settlement - Cleveland 19 News Cleveland, OH

Ohioans To Receive About $103M In Relief Through Bank of America Settlement

SPRINGFIELD, Ill. (AP) - Ohio homeowners with Countrywide mortgages will receive about 103 million dollars in reduced interest and principal.

That's Ohio's share of a more than 8 billion dollar multistate settlement with Bank of America, which acquired Countrywide Financial and its troubled mortgages over the summer.

Ohio Attorney General Nancy Rogers said today that the settlement should help about 8,000 Ohioans who are struggling to keep their homes. She notes that foreclosures have devastated Ohio communities and crippled the state's economy.

Rogers says depending on the type of loan, up to one-half of all Countrywide subprime loans in the state are delinquent.

Countrywide borrowers may call a hotline at 1-800-669-6607 for information or visit countrywide.com

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