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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
yes iam stealwaitingfor aletter fromsettlment andit bensincejuly of last year
I went to the Attorney General! Please people file a claim with them, the more that file will help all of us……..
I tried to get my interest rate lower.BAC WOULD NOT HELP NEITHER WOULD COUNTRYWIDE PAYMENTS WENT UP AGAIN…I PRAY I DONT LOSE MYHOME…. NEVER BEEN LATE,PAID ALL MY PAYMENT’S…STARTED IN 2005 trying to get my interest rates lowered…..
I was also a victim of Countrywide Home loans in 2004. I settled for 3,000. At the time I was so broke and financially destroyed I had know choose. Now I look back on it all and wonder if Country stole my home from me shouldn’t they have paid market value at the time of settlement. I got screwed.
I was a victim of their crap. The first month I knew I was going to not be able to make my payment I called to try to make arrangements. They told me I couldn’t do anything until I was actually late. So once I was late I called them back. They said to pay what I could. I did. They raised my payments from $2300 to $3200! If I could no longer afford $2300 I certainly could not afford $3200. So I started painting every wall and making the home perfect. I enlisted a real estate agent and listed my home. But the foreclosure notices in the paper had ridiculous offers coming of less than 50% of the value. I moved into a crappy rental. B of A Countrywide gave me an amount that I needed to get out of foreclosure. I wanted to get it caught up and sell it. I sold my Corvette that I had inherited when my dad died. It broke my heart to let it go. I had the money in less than two weeks from the date of the notice. When I called to find out where I could take the check I was told I needed $4000 more. There was no way I could come up with it. By the grace of God I was able to close the day before the foreclosure. But, I had to take $130,000 less then what the house was worth. It still went on my credit as a foreclosure even though both mortgages were paid in full. Here I am almost 5 years later without my dream home, living in a double wide. Without my dad’s beloved Corvette. It sent me into such a tail spin that I have lost more than just my home. I lost my self esteem. I was trying so hard to save my home I let a motorhome go back and now I am stalked like a rabid beast by the lawyer for the bank. They try to seize my bank accounts and will take my pay check if they ever find where I work. I know I will never be able to own a home thanks to unscrupulous banking practices. I just want the money they caused me to lose. I am sure I will never see a dime. I also would like to see these people in jail for the hell they have put us all through. Jail will never compare to the hell we have lived in since they destroyed our lives.
Still waiting for my check afterbfilling out the settlement letter and return it in janurary 2011. How ling will ittake fir me to get it.
i dont know why they didnt go back further..i got a load from courtry wide..of course the payments went up every year for the 3 yrs i lived there…lost my job due to 911..was on unemployment..barely paying my bills..got a job in feb.2003…got in a major car accident at work..had 3 surgeries..work comp..held my check for 3weeks…couldnt make march mort.pymt….told them i got in a bad car accident at work and that i would catch up..they said they needed the payment now…so by the time i starting getting my checks..one at a time..i got 2 months behind because they would accept partial payments…so they foreclosed on me…made me move out july 2003 with 6screws in my back and had surgery on both arms…still have major neck problems and still see a doctor…long story short..i got my settlement of $150.000….in 2009…if countrywide didnt screw me..i would have paid off my house…now i have to rent a room from somebody….makes me sick…still…..they screwed alot of homeowners…..
Just got my class action check yesterday! So happy, I was finally compensated for the financial damages that whole fiasco caused me emotionally and financially. I received $6000. Good luck to the rest of you.
I received notice I would be receiving a check. Where is my check?
STILL NO CHECK………….WTF
They took my money, home, and hope. I had to leave a house that my husband and i work 8 years on and the place our children were born and called home. I was mad and fustrated but know all I want is the loan showing paid in full and off my credit. So I can go forward and get this behind me. Anyone how to ho about doing this or who to contact let me know please.