WASHINGTON, D.C. (San Antonio Express-News) – Federal and state officials yesterday announced a $25 billion foreclosure settlement with five of the nation’s largest mortgage lenders. Of that, $428 million will come to Texas. But will it be enough to help?

Of Texas’ share, $141 million will go into the state’s treasury, while the remaining $287 million will go toward restructuring mortgage loans and to some borrowers whose homes were foreclosed.

But only 2 percent of mortgage holders in Texas may qualify, and they’ll probably receive less than $2,000 each. On top of that, the process could take as long as three years.

Real Estate Center Research Economist Dr. Jim Gaines said it looks like the benefit to Texans will be small.

“Of the 3.6 million mortgage loans in Texas, we’re going to maybe — maybe — help 85,000 of them,” he said.

The five lenders involved in the settlement were Ally Financial, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo.