Deadline Friday for up to $2,000 in foreclosure payments - WSMV Channel 4

Deadline Friday for up to $2,000 in foreclosure payments

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NASHVILLE, TN (WSMV) -

Imagine losing out on nearly $2,000 just by missing a piece of mail. It's happening in Tennessee, and the state attorney general's office is making one last-minute plea for people to come forward.

For anyone who went through a foreclosure between 2008 and 2011, there's a pretty good chance they are entitled to part of a multi-million dollar settlement with lenders.

However, there's a catch. They have to apply for their share before Friday.

"There was a time in the not-so-distant past when every fifth home in a neighborhood was tied up in foreclosure, because homeowners could no longer afford their mortgage," said Matt Pulle, with the Tennessee Attorney General's Office.

About 37,000 Tennesseans qualify to get money back as long as they act between now and Friday.

"In many cases, the foreclosure itself may have been proper, but there were excessive late fees tacked onto it - or that the homeowner was paying during a period of limbo - and this is meant to reflect that," Pulle said.

If you believe you may qualify for some money back, fill out the claim form before Friday in order to qualify for up to $1,800. The fewer people who apply means the higher the payoff for those who do.

"We're talking about a minimum of $840, but it looks like the payments will be anywhere from $1,500 to $1,800," Pulle said.

Although most people who are eligible likely received a notice, there are some who slipped through the cracks.

"Obviously, we're trying to reach homeowners who have had to move, and that's not the easiest thing in the world," Pulle said.

For more information, call the Mortgage Assistance Hotline at 866-430-8358 or visit either http://www.tn.gov/attorneygeneral or http://www.nationalmortgagesettlement.com.

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