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Settlement With Mortgage Lender Means Help For Hoosiers

A settlement with Ocwen Financial Corporation will mean financial help for Hoosiers struggling to pay their mortgage.

foreclosed

Photo: Flickr (taberandrew)

Foreclosed homes in Indiana have new hope.

A new settlement with one of the nation’s largest mortgage lenders will mean financial help for Hoosiers struggling to pay their mortgage and those whose houses were foreclosed.

Ocwen Financial Corporation reached a joint state and federal settlement worth two billion dollars, money that will be split between Indiana and 48 other states.  More than $18 million from the settlement with the nation’s fourth-largest mortgage servicer will go towards reducing the first-lien principals on Hoosier mortgages.  And nearly three thousand Hoosiers whose homes were foreclosed will receive a cash payment worth more than a thousand dollars.

Indiana Attorney General Greg Zoeller says the settlement is the result of a massive civil law enforcement investigation.

Brandon Smith

Brandon Smith has previously worked as a reporter and anchor for KBIA Radio in Columbia, MO, and at WSPY Radio in Plano, IL as a show host, reporter, producer and anchor. Brandon graduated from the University of Missouri-Columbia with a Bachelor of Journalism in 2010, with minors in political science and history. He was born and raised in Chicago.

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