Oregonians get millions in foreclosure relief

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Friday, February 22, 2013

5,890 Oregonians received part of a $45.8 billion nationwide mortgage-abuse settlement.

In Oregon, the five major mortgage servicers party to the settlement -- Ally, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo -- have forgiven a combined $385 million in debt, reaching 5,890 borrowers. Another $113 million of relief is in the works.

Most of the completed consumer relief, however, comes in the form of debt forgiven on short sales and second-lien loans, which critics say are among the least painful ways for lenders to meet their obligations.

Read more at OregonLive.com.

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