(KMOV) – On Monday, the government’s mortgage relief settlement with five banks will allow payment of $2,000 to qualifying individuals who suffered recent foreclosure. The agreement comes after investigations found the nation’s largest loan providers- Bank of America, Wells Fargo, Chase, Citigroup, and GMAC – signed foreclosure documents improperly.
The settlement also requires the banks to funnel money to aid other homeowners with keeping their homes.
The Missouri Attorney General’s Office will be meeting with individuals this week to help explain the guidelines and reach out to those who may be eligible for the cash settlement.
Starting Monday, Attorney General Chris Koster will be in the city of St. Louis. Koster will be in St. Louis County Wednesday and in St. Charles County on Thursday.
For more information on the mortgage settlement agreement, click here.