OLYMPIA, Wash. (Metro Networks Inc.) -- Officials say Washington's share of a 49-state, 25-billion-dollar settlement with five of the country's largest mortgage servicers will be about 648-million dollars.
Washington Attorney General Rob McKenna says 525-million of that will go to help those whose home values have fallen below what they owe on their homes.
McKenna says the settlement "holds America's largest banks accountable" for homeowners who were victims of shoddy loan servicing, illegal robo-signing, and faulty foreclosure processing.
Officials say it will take six to nine months to determine which homeowners will be eligible for mortgage relief under the settlement.
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