More than 15,000 South Carolina homeowners will receive about $190 million in foreclosure relief and other compensation from the blockbuster settlement between state attorneys general and the country's largest mortgage servicers.
The figures - a state-by-state breakdown of how the country's underwater borrowers will be aided in the settlement - come from the consortium of state attorneys general who negotiated the deal, and were posted this week on their website, NationalMortgageSettlement.com.
All told, the mortgage servicers - including Bank of America Corp. and Wells Fargo & Co. - will pay about $25 billion to absolve claims that they used incorrect and improper foreclosure and mortgage servicing practices.
Forty-nine states and the District of Columbia participated, along with several federal agencies. It capped an investigation that stretched more than a year.
About 29,000 North Carolinians will receive about $275 million from the settlement. The state itself will receive an additional $64 million, most of which will be used for housing counselors, legal assistance and expanded prosecution of financial crimes.
South Carolina previously had announced that its state government's share would be about $33 million. The state has not yet broken down how it will use that money, as North Carolina has done.
California, by far, is receiving the most from the settlement, at about $16.5 billion for more than 471,000 homeowners. Florida, Arizona, Nevada and Illinois join the state in receiving more than $1 billion.
North Carolina ranks No. 14, with South Carolina coming in at No. 20.
