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Tennessee homeowners receiving part of multimillion dollar settlement

Published On: Feb 22 2013 04:44:54 PM EST
Updated On: Feb 22 2013 05:51:12 PM EST

Around 4,000 Tennessee homeowners are now getting relief when it comes home foreclosure abuse.

Tennessee's Attorney General says $161 million in loan relief was part of a $25 billion multi-state settlement with five U.S. banks: Bank of America, JP Morgan Chase, Wells Fargo, Citibank and Ally Financial.

Ultimately, eligible homeowners in Tennessee could get more than $200 million in mortgage relief, with most of the money helping to avoid foreclosure.