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.

Hide Comments

READER COMMENTS

Loading comments...
Hide Comments

THE DAY VIDEO SHORTS