Thousands of LA borrowers owed money in foreclosure settlement - FOX 8 WVUE New Orleans News, Weather, Sports, Social

Thousands of LA borrowers owed money in foreclosure settlement

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BATON ROUGE, LA (WVUE) -

The state of Louisiana says it just received $2.4 million in a foreclosure settlement, and that the money belongs to more than 4,000 borrowers in the state.

The settlement with mortgage servicers stems from the 2008 housing bubble burst, according to State Treasurer John Kennedy. 

"If you lost your home to foreclosure during the national credit crisis, check our Unclaimed Property database to see if you're owed some money," Kennedy said. "We just deposited more than $2 million that is owed to folks in Louisiana. We want to get this money back to you."

Kennedy said the average borrower is owed at least $300. The parishes of Jefferson, East Baton Rouge, Orleans, St. Tammany and Caddo have the largest number of borrowers in line for money. 

Kennedy encourages Louisiana residents to search for missing money online at www.LATreasury.com or call the Treasury's toll-free hotline at 1-888-925-4127.

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