Checks En Route to Georgia Homeowners

Settlement checks will arrive next week for more than 50,000 Georgians who were improperly foreclosed on between 2008 and 2011, the Office of Georgia Attorney General Sam Olens announced Tuesday.

The joint state-federal settlement is part of a February 2012 deal reached between 49 state attorney generals and five lending institutions, according to The Star-Ledger in New Jersey.

About 962,278 valid claim payments will be mailed nationwide from June 10 through June 17, according to a statement from Olens' office. The total amount to be paid to Georgia borrowers exceeds $75.8 million.

Borrowers eligible for the relief had their mortgage serviced Ally, Bank of America, CitiMortgage, JPMorgan Chase and Wells Fargo. According to The Star-Ledger, "the banks were found to have routinely signed foreclosure-related documents without ensuring the information was correct and without a notary public."

To be eligible for the settlement, borrowers had to submit a valid foreclosure payment claim through the National Mortgage Settlement agreement.

For various reasons, some borrowers will not receive a check in the initial mailing or will receive a split payment.

Borrowers with questions about their National Mortgage Settlement payment should call Rust Consulting at 1-866-430-8358. Rust will administer the settlements.