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Colorado To Get $205M In Foreclosure Relief

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(credit: CBS)

(credit: CBS)

DENVER (AP) – Colorado Attorney General John Suthers says Colorado will get about $205 million as part of a multi-state settlement with the nation’s five largest national banks over home foreclosures.

Suthers said Thursday the agreement will help homeowners hurt by improper mortgage and foreclosures by the banks. The state will also get some of the money for housing-counseling, legal services for distressed homeowners and promotion of loan-modification opportunities.

Under the agreement, customers of the banks who lost their homes to foreclosure between Jan. 1, 2008 and Dec. 31, 2011, may be eligible for restitution.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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