Homeowners in Tampa who are in foreclosure or struggling to make payments may qualify for help after the $25 billion government settlement last week.

Although banks have three years to meet their obligations, below answers give Tampa borrowers an overview what to expect from the process.

Which mortgage companies does the "landmark settlement" cover?

The settlement covers the following companies:

- Ally Financial/GMAC Mortgage: (800) 766-4622

- Bank of America: (877) 488-7814

- Citibank: (866) 272-4749

- JPMorgan Chase: (866) 372-6901

- Wells Fargo: (800) 288-3212

How do I know if I qualify for help?

Even though it may take some time to figure out for the lenders/processors who exactly qualifies, the Department of Housing and Urban Development says that those eligible for help will be contacted by their lenders. However, if you don't want to wait, go ahead and call the numbers mentioned above.

What if your loan isn't with one of the 5 banks?

Government officials hope to strike similar deals with some other banks in the near future.

How long will it take to get financial help?

First, settlement negotiators will pick an official administrator to handle the logistics of the deal. Then the administrator and mortgage companies will work to identify which borrowers should get help. Mortgage companies may reach out to borrowers in the coming months but don't forget, they have three years to meet their obligations.

What if you've already lost your home to foreclosure?

Tampa borrowers who lost their home due to foreclosure between 2008 and 2011 may get help via cash payments. How much cash will depend on how many people file claims.

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