Maryland will receive about $88 million as part of a national settlement with  Ocwen Loan Servicing due to questionable foreclosure practices, Attorney General Douglas F. Gansler said Friday.

This is a result of a settlement reached with the the federal Consumer Financial Protection Bureau and Ocwen Financial Corp. and a subsidiary, Ocwen Loan Servicing. If you are facing foreclosure you cold be entitled to principal reductions from Ocwen. For those who have already gone through foreclosure however you are looking at meager payouts of as much as $1,000.00.

If your loan is serviced by Ocwen you need to contact the Attorney General’s office for more information. If you need help with your loan modificaiton or making a claim feel free to call me.

Joseph K. Githuku