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‘Long road’ on loan help

Associated Press

INDIANAPOLIS – Last year’s National Mortgage Settlement has helped many Indiana homeowners, but more work is needed, Attorney General Greg Zoeller said Friday.

Five major lenders have paid out $174 million to roughly 4,500 borrowers in Indiana, which has paid for home loan modifications, short sales, mortgage refinancing and other aid.

Zoeller said about 18,000 other residents have received direct payments if they lost their home between Jan. 1, 2008, and Dec. 31, 2011.

“While Indiana’s foreclosure rate is down, there is still a long road ahead in making sure distressed borrowers are treated fairly,” Zoeller said in a statement as he met with Joseph A. Smith Jr., the monitor of that nationwide settlement, who has been touring states to examine their progress.

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