Some Md. Homeowners To Receive Financial Aid As Part Of Foreclosure Settlement

BALTIMORE (WJZ) — Overextended Maryland homeowners who desperately need a break are getting just that.

As Mike Schuh reports, phone lines have been swamped since the news broke that the state is part of a multi-billion dollar foreclosure settlement.

This week, the attorney general’s office has set up a call bank.

“The conference room didn’t have all those phones or computers three days ago,” said Bill Gruhn. “And during that 24-hour period, about 500 people have called.”

“We’re getting more money than New York is,” said Maryland Attorney General Doug Gansler.

Nearly a billion dollars will help those in need, helping those who had foreclosures through Bank of America, Wells Fargo, Chase, Citigroup and Ally.

Prince George’s and Baltimore City showed the highest levels of foreclosure.

The mortgage settlement money will help those who are already out of their home as well as those still in them.

“It’s terrific that we’re able to help people with this settlement. This isn’t going to help everyone with their problem but it is a step toward helping people,” Gruhn said.

Adrian Redd took calls. She has advice for anyone who’s anywhere in the foreclosure process.

“I would say the best advice is to call,” Redd said.

This program is just getting started but will run for the next three years.

It’s not yet clear exactly when the homeowners will begin to receive the financial aid.

For more information, contact Maryland HOPE at 877-462-7555 or click here.

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