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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.
124 thoughts onCountrywide Settlement Refunds Go Out to Abused Homeowners
They said chks were being mailed out as of last april 2011, have anyone recived a check, after filling out that claims form, and should i call them anymore, all i get is that they are very busy..
I have n ot received a check either and my home loan was also with Countrywide?
whats up with my check
i have not yet got my check whats is going on
I never recieved a settlement check – while other people I know have. How can I find out if it was “lost in the mail”
Contact the attorneys. Look it up online
I did not understand why my co-worker home loan with countrywide mortgage, interest rate, was so much lower than mine, we both were nurses, and my credit score was higher than hers. The only difference between her, and I was that I was black, Iater countrywide foreclosed on me in the middle of having my home refinanced. When I questioned what happened they said they could not find my loan papers, and my agent no longer worked their….
go figure…
If you closed on your loan on a different date than your co-worker, then your rate probably would have been different. When you got your loan, did you call several lenders to find the best rate? If you did, and Countrywide had the best rate, then it was just a matter of timing. Rates were lower when she got her loan. Rates usually change daily, but in a turbulent market, can change multiple times during the day. Locking in your rate guarantees that rate as long as you close within the lock-in period. I can’t imagine a mortgage lender charging a higher rate based on race. It has always been a very competitive business and whoever offers the lowest rate usually gets the loan application. Ask your friend when she applied for her loan and you will have your answer.
I had a mortgage with country wide, another company refianced now my question is do I recieve a refund? I believe that I should. I am sure I was bamboosaed also.
Where can I find to claim the settlement?
My mother bought a house through CountryWide. My mother is 77 years old. She is on a fixed income. She had excellent credit (820)…but her income was less than her payment!!!! They told her that the payment would be adjusted after the loan was finalized. She is a trusting woman…and she believed the lies they told her. To make a long story short…she couldn’t pay the payments which, of course, were NEVER adjusted and she lost her home and her credit was ruined. We have not received a check or even a lousy apology for what they did to her. This company (and Bank of America) needs to be forced to pay ALL of the people to whom they lied. Where is my mother’s JUSTICE?????????
Refunds were reissued on September 19th, when am I expected to get mine? Lorette Karr was deceived with loan 12/05 they padded her income by $3000. Full Spectrum Lending and Countrywide took advantage of woman in her 80s.
My husband an DC myself brought a home though countywide and have sent in a claim awhile back I haven’t heard back from anyone about this matter .I’m so upset about this was hole thing I’ve lost my house I ve lost my husband due to cancer from the military ships and losing my house due to this mix up County wide going under. I want some justices it not fair to me to have to lose all of this in my life All at once . I was told that this would be taking care of !!! I feel like I’m being put in a corner… I had to move out of my house I was forced out ..do to Your Country wide mess which left me out of my home the took my car from in my drive way I was trying to take care of my dieing husband and you guys wouldn’t even talk to me about the matter so now I want this to be know I want to be heard I want my House Back!!! I can’t Bengals him back but I’m going to fight for what is rightfully my… I miss going to the BBQ ON THIS NO ONE HAS TRY TO CALL ME OR EVEN HELP ME IT’S MINE AND I WANT IT BACK MY HOUSE AND MY CAR !!!!!!! THAT WAS TOWED FROM MY DRIVEWAY !!!
MY NAME IS :
MS. TOWNSEL
614-641-9966
Country wide / bank of America went from 44,000 to 900.000.00 for a house I put 12,500 down when I couldn’t pay they seized my home and put me my kids and my cat out had the sheriff put my things on the street
I have not received a refund yet! I was sued by BAC Home Loans/Bank of America toward my second mortgage! A cocky attorney would not listen to anything I had to say and slapped an additional $20,000 on my second mortgage!!! COUNTRYWIDE HOME LOANS HAS RUINED MY CREDIT AND MY LIFE! I NOW HAVE BANK OF AMERICA IN MY FACE, AND RECENTLY HAD THE SHERIFF DELIVER FORCLOSURE PAPERS TO TURN AROUND AND SAY OOOPS! THAT FORCLOSURE WAS DONE IN ERROR…BULL SHIT! Where is my check???