The Federal Trade Commission announced last month that it is mailing out refund checks to 200,000 American homeowners who were charged excessive fees in their mortgages by Countrywide Home Loans.
The FTC sued Countrywide last year for using unfair and deceptive practices while servicing the mortgages of homeowners in default or Chapter 13 bankruptcy.
According to the Countrywide lawsuit, the lender “abused” and overcharged 200,000 struggling homeowners who fell behind on their mortgage payments. These abuses included:
– charging excessive fees for default-related services like property inspections;
– making claims about amounts owed by homeowners in bankruptcy that were false or couldn’t be backed up; and
– not telling people going through bankruptcy when new fees or charges were being added to their loans.
The FTC Countrywide settlement will provide $108 million in refunds to homeowners who were charged inappropriate fees or were victims of false statements made in bankruptcy court.
The Countrywide refund checks began going out in late July 2011. Eligible homeowners will automatically receive a check in the mail. However, if you have moved, you can submit your change of address in writing to:
FTC v. Countrywide Home Loans, Inc.
c/o Gilardi & Co. LLC
P.O. Box 808054
Petaluma, CA 94975-8054
For more information on the FTC v. Countrywide Home Loans settlement, call (888) 230-3196.
130 thoughts onCountrywide Settlement Refunds Go Out to Abused Homeowners
I lost my home 3061 Jackson rd glassboro 08028 I filled for bankruptcy 13 then they evicted me I had country wide home loans didn’t know they had a law suit and is questioning the property or money owed
I never received anythjng from Countrywide mortgage except for a huge interest rate from Bank of America who bought it. I can’t afford $1000.00 a month on 34,000 so I only pay money in the principal which is 180.00 to 200.00 a month. My first mortgage is with Shellpoint at 3.75% and I only owe 119,000 and it was at 245.000 and Countrywide screwed me literally and I need help with my B of A equity for 34,000 years ago I tried to get help with that B of America equity but they made papers go bad after to much time passed and ow I’m literally screwed. I will not do modifications cuz they want me to not pay my bill. I won’t do that even if I’m only paying 200 on principle. They want 1,000 a month I can’t afford that
Who do we get ahold of going through the same. Now they are trying to foreclose on me
Who do we get ahold of going through the same. Now they are trying to foreclose on me
I’m in a similar situation, I would like to know who to contact.
I was a victim and lost my house due to this predatory home loan