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Oregon seeks 10,000 residents due foreclosure settlement payments

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Thursday, January 03, 2013

Two weeks before the deadline, 10,000 Oregonians eligible for payments from a nationwide foreclosure settlement haven't filed claims.

The settlement, announced in February, sets aside $1.5 billion for direct payments to about 2 million borrowers nationwide whose homes were foreclosed between 2008 and 2011 by one of five participating mortgage servicers: Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo.

Many foreclosure relief programs have struggled to reach homeowners. Contact information -- in this case supplied by the servicers -- is often out of date. And for those who can be reached, notices arrive amid an avalanche of foreclosure-related pitches, many of which are fraudulent.

Read more at OregonLive.com.

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