Mortgage Settlements: Homeowners
The Attorney General obtained settlements from three major banks (Bank of America, Citibank, JP Morgan Chase) related to their marketing and sale of residential mortgage backed securities (RMBS). The RMBS settlements provide various forms of relief to consumers, including reductions in principal balances and reductions in interest rates.
If you are a homeowner struggling to pay your mortgage or facing foreclosure, one of these settlements could help you. Not every homeowner will qualify for relief under these settlements. Those who qualify may be contacted directly by their bank or servicer, and may receive one or more forms of relief depending on their circumstances. Servicemembers with a disability, as well as relatives of deceased servicemembers, may also quality for benefits under these settlements. For more details, please see our Frequently Asked Questions.
If you need advice on mortgage modifications, foreclosures, and credit issues, please contact a HUD-Approved Housing Counselor. You can find a counselor in California by visiting the HUD Approved Housing Counseling Agencies webpage or by calling 1-800-569-4287.
The Attorney General also secured significant relief for Californians under the National Mortgage Settlement. For detailed information about the settlement, please visit the National Mortgage Settlement website. However, please be advised that the deadline to file a claim was January 18, 2013 and claims are no longer being accepted. If you have questions, you may call the Settlement Administrator at 1-866-430-8358.
To find out if you may be eligible for relief under one of the RMBS settlements, please contact your mortgage servicer.
- Bank of America: 1-877-488-7814 or visit a Bank of America Customer Assistance Center. You can find a list of Bank of America Customer Assistance Centers on the Bank of America website.
- JPMorgan Chase: 1-866-550-5705
- Citibank/Citimortgage: 1-866-272-4749