PROVIDENCE, R.I. -- In 2012, 1,832 Rhode Islanders with troubled mortgages received financial relief totaling more than $131 million, as part of last year's landmark $25-billion settlement between 49 state attorneys general and five of the nation's largest mortgage lenders.
In the fourth quarter of 2012 alone, 810 Rhode Islanders received $58.6 million in relief, and another 450 state residents were in the process of receiving relief, which includes loan modifications and refinancing, according to the office of Attorney General Peter F. Kilmartin.
The information about the assistance from the lenders (Ally/GMAC, Bank of America, Citibank, JP Morgan Chase and Wells Fargo) was provided as part of the formal report issued by the National Mortgage Settlement Monitor, Joseph P. Smith.