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RALEIGH — Foreclosure victims and struggling homeowners in the Tar Heel State can expect to see relief from a $25 billion foreclosure settlement.

Due to the foreclosure abuses that took place after the housing bubble burst, 49 states have agreed to a deal with five of the nation's biggest mortgage lenders; including Charlotte-based Bank of America. The settlement will provide assistance to distressed borrowers and direct payments to states and the federal government.

North Carolina Attorney General Roy Cooper expects the settlement to reduce the number of foreclosures and stabilize home values. Cooper worked with Attorney Generals from other states and the federal government to reach the deal

"Banks will be forced to follow and clear a set of rules that will give a better chance to homeowners in trouble. This helps our communities and economy," said Cooper.

The deal could help struggling homeowners across the state. According to Cooper $338 million worth of national funds coming to the North Carolina will benefit foreclosure victims, homeowners at risk of foreclosure, homeowners who owe more than their house is worth and housing counselors and legal help.

"Strong court ordered enforcement with teeth distinguishes this deal from earlier efforts to help home owners through this foreclosure crisis," said Cooper.

Triangle Family Services, a nonprofit agency in Raleigh that assists homeowners, believes additional funds for their mortgage payment could help people make ends meet.

"It's significant because that could be gas, it could be child care, it could be the basics that they need to help their family stay stable," said TFS CEO Alice Lutz.

Cooper's office said North Carolinians who are eligible for direct relief from the the settlement will be contacted by their mortgage service or settlement administrator in the coming months.

• For more information about the national settlement, click here

• To find out more about how the settlement will impact people in North Carolina, click here