BOISE -- More than 12,000 Idaho residents who lost homes to foreclosure will soon receive claim forms for payments under a national settlement.
Idaho Attorney General Lawrence Wasden announced Tuesday that 12,207 Idaho borrowers who lost homes to foreclosure between 2008 and 2011 are eligible for payments of at least $840. Idaho was one of 49 states joining the federal government's $25 billion settlement with five major mortgage lenders and servicing institutions for allegations of "robo-signing" and other problems.
Postcards from the settlement administrator went out last week to more than two million borrowers nationwide, informing them that they will get a claim form and other information soon. The amount of money that each eligible borrower receives depends on how many borrowers return claim forms.