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Checks Go Out in National Mortgage Foreclosure Settlement
By Mike Holter
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Checks went out this week to hundreds of thousands of borrowers participating in the National Mortgage Foreclosure Settlement. Homeowners can expect to receive approximately $1,480 each as part of a $25 billion settlement with the nation’s five largest mortgage lenders.
The payments are intended to compensate borrowers who experienced foreclosure abuses between 2008 and 2011 from Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo.
Borrowers that submitted valid Claim Forms by the deadline of January 18, 2013 will receive approximately $1,480 per loan. The exact amount of payment is being withheld to help prevent fraud.
Distribution of the National Mortgage Foreclosure Settlement checks began Monday, June 10, and will continue through June 17.
Every borrower who filed a claim should also receive a letter regarding the outcome of their submission. Payment questions can be directed to Rust Consulting at 866-430-8358, but currently, the Settlement Administrator is not able to provide specific mail dates for individual borrowers.
More information on the National Mortgage Foreclosure Settlement can be found at www.NationalMortgageSettlement.com.
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Updated June 12th, 2013
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11 thoughts onChecks Go Out in National Mortgage Foreclosure Settlement
It is 8/12/13 and still no check everything was fine with my claim until it was time to pay then Rust said my SSN didn’t match up what a load of BULL.
#1 Vtack I agree with what you said, i lost the property that I inherited from my mother in 2011 , I never knew
about this and have tried and tried to save the home I was
left from her. Couldn’t last I did hear AARp was trying to reopen a class action suit for the program my mother had take out not known to anyone. I agree there should be a class action suit for all hurt prior to this and ones that had to give up their homes and never helped. Where is the justice?
I can’t believe this is all that is being given to each person. We lost thousands and thousands of dollars and were promised much more than this. I want to know what happened?
When will someone do this for the other banks… PNC
Only Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo
I was very surprised that I did receive a check. We were able to deposit it without any problems.
Received my check 6/13 live in Beaverton,OR
check amount was $1484.21
I can tell you I got my check, and I was able to deposit with no problems.
If the checks were mailed out on the 10th by they would have been recieved by some people? I don’t believe they were mailed out and you can an wont get a correct answer from Rust!! Another hurry up and wait game!!!!
Has anyone received one of these checks? they were supposed to go out on Monday … yet nothing has been heard about anyone receiving theirs.
A lot of people missed out because THEY WERE KICKED OUT OF THEIR HOMES so they never received a claim form. Some banks sold their mortgages, so I believe a lot of those people that were with the sold bank, never heard from the bank that took over their mortgage. That should be another class action lawsuit about that.