Deadline looms for Oklahoma mortgage settlement

Sep 13, 2012

OKLAHOMA CITY (AP) — Thursday is the deadline for Oklahomans to apply for part of the state's $18.6 million settlement with the nation's largest lenders.

Oklahoma was the only state that did not sign off on a $25 billion settlement agreement with the nation's largest mortgage lenders, instead reaching a separate agreement with the companies.

Any homeowners who believe their foreclosure or loan modification involved unfair practices are urged to apply with the Oklahoma attorney general's office.

Some of the practices banks engaged in that are covered under the settlement include robo-signing, where signatures were applied to documents without proper oversight, or dual-tracking, which involves banks guiding homeowners on adjusting mortgages while at the same time pushing ahead with foreclosure.

Copyright 2012 The Associated Press.