AG says some foreclosure victims may be eligible for payments

Nearly 67,000 claim forms will go out to Nevadans who had their home foreclosed on between January 2008 and the end of 2011.

Attorney General Catherine Cortez Masto said those people may be eligible for payments under the national mortgage foreclosure settlement.

Eligible borrowers are those who had mortgages serviced by Ally/GMAC, Bank of America, Citi, JPMorgan, Chase and Wells Fargo.

The settlement allows for some $1.5 billion in payments to 1.8 million borrowers nationwide. The amount of the payments will depend on how many of those borrowers participate.

The attorney general said the process is free and eligible Nevadans should fill out claim forms as soon as possible. She said to avoid scams, people should visit a federal Housing and Urban Development-approved counseling agency for help.

The forms must be returned by Jan. 18 to qualify. Potentially eligible borrowers who don't receive a claim form by mid-October should call 1-866-430-8358 for help during regular business hours.