Attorney General Doug Gansler Presents $200,000 to Allegany Law Foundation
Mortgage Settlement funds to assist distressed homeowners
Baltimore, MD ( Dec. 11, 2012) - Attorney General Douglas F. Gansler today presented a ceremonial check for $200,000 to the Allegany Law Foundation, Inc. of Cumberland that will enable the legal assistance nonprofit to expand its aid and assistance to distressed homeowners in Allegany County. This is the first such check to be delivered as part of $6.2 million allocated by the Attorney General to strengthen legal assistance to Maryland families under the $26 billion National Mortgage Servicing Settlement announced earlier this year.
"Many Maryland families impacted by the housing crisis need legal assistance to help them keep a roof over their heads and their financial future under control," said Attorney General Gansler. "We made sure that the funds received under this settlement are focused on these families who need help and the communities struggling under the weight of the housing crisis."
"We are very pleased that Attorney General Gansler is dedicating a substantial portion of the Settlement to provide direct legal resources to distressed homeowners in Allegany County," said Marcia Conrad, Executive Director of the Allegany Law Foundation, Inc. "This grant will allow our program to provide legal representation to distressed homeowners and foreclosure-affected tenants during the next three years in foreclosure mediation, bankruptcy, and debt collection actions and evictions."
Under the National Mortgage Servicing Settlement, it is estimated that Marylanders will receive close to $1 billion in direct benefits. According to the federal monitor of the national mortgage servicing settlement, as of September 30, nearly 7,000 Marylanders have received over $550 million in assistance such as home mortgage modifications, principal reductions, deficiency waivers, refinancing and short sale financial assistance.
As part of the settlement, Maryland received nearly $60 million in funds which were allocated by Attorney General Gansler primarily to housing-related services and projects, including legal aid and assistance. The money is being distributed under a process designated by the Attorney General in cooperation with the Maryland Department of Housing and Community Development.
The Allegany Law Foundation is planning activities throughout the county including workshops, community educational events and weekly "Ask a Lawyer" individual advice clinics. The Foundation's panel attorneys will conduct these events free of charge and open to the public for distressed homeowners and foreclosure-affected tenants. The Allegany Law Foundation has been working with partners across Maryland since 2008 to meet the needs of clients facing the housing crisis.
For more information on the Mortgage Settlement visit Attorney General Gansler's website:
For more information about the allocation of nearly $60 million in settlement funds, visit:
For more information about the Federal Monitor's Report, visit:
To read the report "Continued Progress: A Report from the Monitor of the National Mortgage Settlement" visit: http://www.oag.state.md.us/mortgageSettlement/Monitor_Progress_Report_Nov2012.pdf
Additional information is available at: