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Maryland Politics
Posted at 02:58 PM ET, 02/09/2012

Maryland to get $960 million in foreclosure settlement; Prince George’s could benefit significantly

Maryland Attorney General Douglas F. Gansler is estimating that up to 40,000 homeowners could benefit from the $960 million the state is expecting from the landmark foreclosure settlement announced Thursday.

Prince George’s County, which for several years has led the state in foreclosures, is expecting a substantial chunk of the settlement, said a spokesman for Prince George’s County Executive Rushern L. Baker III (D). Gansler and Baker announced details at a press conference in Hyattsville.. In the first nine months of 2011, 22,401 Prince George’s homeowners had received a notice of intent to foreclose, which was 25 percent of all Maryland homeowners who had received notices in that period, according to state data.

Gansler (D) said his office will set up a hotline 1-888-743-0023. Marylanders who make payments to the five banks in the settlement can also contact the Maryland HOPE) (Homeowners Preserving Equity hotline at 1-877-462-7555 or go to the program’s Web site.

By  |  02:58 PM ET, 02/09/2012

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