UPDATE: Missouri to get $195 million from national mortgage settlement

Thursday, February 9, 2012 | 7:10 p.m. CST

JEFFERSON CITY — Missourians will receive $195 million from a national settlement over home foreclosure abuses among most states, the federal government and mortgage lenders.

Borrowers whose homes were foreclosed on from 2008 to 2011 will get a roughly $2,000 cash payment, which will cost about $31 million. Another $38 million will go to allow refinancing for people who are current on their mortgages but whose homes now are worth less than what they owe. An additional $86.5 million will be used to reduce the principal for people who are behind on their mortgages but could afford to make payments at a reduced rate.

State government also receives $40 million. Earlier this week, Gov. Jay Nixon proposed using those funds to soften a budget cut for colleges and universities.


Like what you see here? Become a member.

Show Me the Errors (What's this?)

Report corrections or additions here. Leave comments below here.

You must be logged in to participate in the Show Me the Errors contest.


Leave a comment

Speak up and join the conversation! Make sure to follow the guidelines outlined below and register with our site. You must be logged in to comment. (Our full comment policy is here.)

  • Don't use obscene, profane or vulgar language.
  • Don't use language that makes personal attacks on fellow commenters or discriminates based on race, religion, gender or ethnicity.
  • Use your real first and last name when registering on the website. It will be published with every comment. (Read why we ask for that here.)
  • Don’t solicit or promote businesses.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report comment" link.

You must be logged in to comment.

Forget your password?

Don't have an account? Register here.