State homeowners gain debt relief
Nearly 3,000 Connecticut borrowers have received about $185 million in debt relief from a national mortgage-foreclosure settlement, according to state Attorney General George Jepsen.
The Commercial Record reported that the total doesn't include refinancing of several hundred additional Connecticut mortgages, as well as $72 million in loan modifications for state homeowners.
Jepsen said relief, from a $25 billion national pool, came much quicker and in larger quantities than expected. The average mortgage reduction totaled about $65,000.
Connecticut borrowers had originally expected $155 million in various forms of relief.
"I'm very pleased and encouraged that we are exceeding those estimates," Jepsen said.
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