BofA, Countrywide Lien Release Class Action Settlement

A settlement has been reached in a Bank of America and Countrywide lien release class action lawsuit, resolving allegations brought forth against Countrywide Home Loans Inc. and Bank of America N.A. by plaintiffs who had a mortgage loan serviced by one or both of the named defendants in the state of Georgia.

The plaintiffs of this Countrywide and Bank of America lien release class action lawsuit allege that when these mortgage loan was paid in full, Countrywide and BofA failed to communicate a legal message of “satisfaction” or “cancellation” of lien (also known as a lien release) to the Georgia County clerk’s office within the time frame required by state laws.

Both Countrywide and BofA deny all liability in this lien release class action lawsuit, but have agreed to this BofA and Countrywide lien release class action settlement in order to avoid the uncertainty of future litigation as well as increasing court costs and attorneys’ fees. BofA and Countrywide have agreed to establish a $8.5 million lien release class action settlement fund to compensate eligible Class Members.

Who’s Eligible

You are a Class Member of this BofA and Countrywide lien release class action settlement if you owned the previously mortgaged property in the state of Georgia as of Feb. 12, 2007, or April 1, 2015, and Countrywide and/or Bank of America failed to transmit a satisfaction or cancellation of the lien on the property during the time frame required by Georgia law.

Potential Award

Up to $500.

Class Members who submit a valid and timely Claim Form will be eligible to receive up to $500 from the Bank of Ameria and Countrywide lien release class action settlement fund.

Proof of Purchase

If you are a Class Member of this Bank of America and Countrywide class action settlement, you should have received a Post Card Notice in the mail. If so, you should complete a Claim Form and provide the individual identification number found on this Post Card Notice.

If you cannot find this Post Card Notice or the individual identification number, then a proof of ownership of your property (such as a property bill) covered under the proposed settlement should be provided with the Claim Form. A complete Claim Form must be submitted online or mailed to the Claims administrator of this BofA and Countrywide lien release class action settlement postmarked no later than Aug. 24, 2015.

Claim Form

Claim Form Deadline

08/24/15

Case Name

Schorr v. Countrywide Home Loans, Inc. and Bank of America, N.A., Case No. 4:07-CV-00019-WLS, in the United States District Court for the Middle District of Georgia, Columbus Division.

Final Hearing

08/04/2015

Settlement Website

www.SchorrLienReleaseSettlement.com

Claims Administrator

Schorr Class Action Settlement Administrator
P.O. Box 2838
Portland, OR 97208-2838
1-866-840-0342
[email protected]

Class Counsel

CHARLES A. GOWER, P.C.

Defense Counsel

BRYAN CAVE LLP