State receives $2.4 million from foreclosure settlement

Staff Report

More than 4,000 borrowers in Louisiana are owed money from a settlement with mortgage servicers stemming 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."

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 LATreasury.com or call the Treasury's toll-free hotline at (888) 925-4127.