Mortgage Settlement Results in First Checks
Attorney General Scott Pruitt gives out a $20,000 check to a Tulsa family as part of the $18.6 million settlement with five national banks.
The $20,000 to the Zuniga family is the first mortgage compensation check to victims of unfair or deceptive practices during the housing crisis.
Zachary Zuniga says they lost their home in 2010 despite having made efforts to remodify their mortgage and the $20,000 will help tremendously.
“Pay off our debt that we have now. Our credit will reflect that and get us back where we need to be. And I hope by the middle of next year our credit will be high enough that we can do anything we need to do.”
Attorney General Pruitt says 107 claims of the original 732 applicants have been approved so far at an average of $11,000 each.
Part of the money is also going to the Oklahoma Bar Association to help returning veterans with housing problems and to Legal Aid Services to help other families.
Oklahoma was the only state which didn’t enter into a $25 billion nationwide settlement which Pruitt says will only be paying out an average of $840 to victims.