AUSTIN -- A lawsuit settlement with the state of Texas may provide some mortgage relief for some 30,000 homeowners, Attorney General Greg Abbott said Monday.

Countrywide, now part of Bank of America, was the focus of multiple-state lawsuits alleging deceptive and predatory lending practices in its mortgage lending business. Bank of America settled those lawsuits and, as part of the settlement agreement, will provide as much as $350 million to help Texans with Countrywide loans adjust their rates.

Beginning Dec. 1, Bank of America and Countrywide will begin contacting borrowers with subprime and otherwise risky mortgages to determine eligibility for its relief program. During that time, foreclosures will be suspended, according to the settlement agreement.

Eligible borrowers may have their interest rates frozen or even reduced, according to the settlement, while some may receive longer terms to pay off the mortgage of have their loans converted to fixed-rate mortgages.

Customer payments would also be revised so they don't exceed 34 percent of homeowners' income, according to the settlement.

An additional $150 million is being set aside to resolve claims from borrowers who've already lost their homes to foreclosure, according to the settlement.

The agreement, which includes settlements with several other states, does not involve tax dollars, Abbott said, but the total cost of the settlement could reach about $8 billion.

Anybody who believes they may be eligible for the program or looking for further information can visit Countrywide's Web site or call 800-669-0102.