May 23, 2012
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Reporter: Associated Press

Nebraska to See Nearly $10M from Mortgage Settlement

The Nebraska Attorney General's office says state coffers will see nearly $10 million from a $25 billion, multistate mortgage settlement, but is unsure how much Nebraska homeowners will see from the settlement.

The office issued a news release Thursday saying nearly $9 million of Nebraska's share of the settlement will be deposited into the state's cash reserve fund. The Nebraska Department of Banking and Finance will receive another $1 million for foreclosure prevention and education.

But when asked what Nebraska borrowers could see from the settlement, a spokeswoman for the attorney general said that payments to homeowners will be under federal -- not state -- oversight.

Spokeswoman Shannon Kingery directed questions regarding borrowers' share of the settlement to the National Mortgage Settlement website at http://nationalforeclosuresettlement.com.


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