Business, Government Legal News from throughout WVWV attorney general announces "Project: Save Our Homes"

WV attorney general announces "Project: Save Our Homes"

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West Virginia Attorney General Darrell McGraw announced a project that will coordinate efforts for homeowners to receive relief following a settlement reached with the nation's five largest mortgage services.

The multi-state foreclosure settlement secured $33.8 million in relief for West Virginia homeowners. The settlement was reached with Bank of America/Countrywide, Citibank, JPMorgan Chase, Wells Fargo, GMAC/Ally Financial.

According to a news release, the settlement will help owners through principal reduction, free refinancing, direct payments to those whose homes have been foreclosed and enhanced safeguards for military personnel.

Kicking off McGraw's "Project: Save Our Homes," Morgantown High School will host a free homeowner workshop 6 p.m. Feb. 16 to provide information on how homeowners and borrowers can receive relief from the foreclosure agreement.

Other workshops will be held across the state as part of this project, according to the news release.

"Helping West Virginians weather difficult financial times and stay in their homes has always been a priority at the Attorney General's office," McGraw said in the news release. "With these Save Our Homes workshops, we have the opportunity to assist homeowners as we work toward a return to a stable housing and lending environment with rising homeownership."

 

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