23,000 Floridians benefit from mortgage settlement

3:38 PM, Aug 29, 2012   |    comments
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TALLAHASSEE, Fla. (AP) - An interim report says more than 23,000 Floridians have received about $1.7 billion so far from a settlement with the nation's five largest mortgage servicers.

It's only a fraction of an estimated $8 billion expected to be paid to Florida homeowners and borrowers as compensation for foreclosure abuses by lenders.

A national monitor issued the report on the $25 billion settlement Wednesday. The payments in Florida so far average about $74,000.

Attorney General Pam Bondi said she' pleased with progress made so far but promised to ensure that mortgage servicers carry out their agreement.

The state also has received $334 million. Of that, $33.5 million went into the state treasury as a civil penalty. No decision has yet been made on what to do with the rest.

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 This material may not be published, broadcast, rewritten or redistributed.)

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