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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.
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125 thoughts onCountrywide Settlement Refunds Go Out to Abused Homeowners
Not only did Countrywide steal our money and the repeatly try to steal our home(which BA did eventually) they stole and sold our identies as well! Then the broker from Bank Of America took out a $10,000.00 dollar down payment loan out in my husbands name but neither the seller our us ever saw or endorsed the check. How is this possible much less legal?
Isn’t it fraud to take out a loan in another person’s name and identity and then cashing the check is a whole new charge I would think? How is the goverment allowing them to do this and we have no recourse of action???
You are correct, how can I determine whether I have been vitimized?
That’s funny how WONDERFUL Countrywide is in paying back people what they “initially STOLED in the first place”…..however, I never received any money from this bank, and then my loan ended up with BOA who modified my loan but after 14 months of paying decided to not modify. I went through my entire life savings to keep my home.
Shame on the GOVERNMENT for allowing this to happen.
We never received any settlement from this as well
We never received a settlement from Countrywide’s mismanagement of our mortgage.
I never recieved my settlement from country wide mortgage they took my money and never paid it towards principle
Chan Hatch
I haven’t received my REFUND!
I believe my home foreclosure fit all the following criteria to allow a refund check from Countrywide:
1. The loan was secured for a one unit home that I lived in.
2. Countrywide/Bank of America became the mortgage servicer.
3. At least 3 payments were made. Approx 2 years payments were made.
4. The home was sold after 1/1/08 but before 12/31/11.
5. The principal balance was approx. $125, 000.
6. The home was located in Michigan.
7. There was no short sale or deeds in lieu, etc.
Yet I was never sent claim package. Bank of America stated I was not eligible.
I would like to make a claim.
Id like to put a claim similiar to that how do i get info on this and is calif eligibil ???
I never got a check either! Countrywide got me for a lot of money!
Countrywide screwed me over on thousands of dollars and fees between 2008 and 2013. I have paper work PROVING this. Dozens of fraudulent fees and charges as well.
When Bank of America took over loans I repeatedly sent them documents that proved my alligations.
Neither Countrywide or Bank of America ever paid me back a penny or fixed the overcharges on my current mortgage!
I never received any settlement from either bank.
How do I get my money back?
How dose my husband get a settlement he received a mortgage form them back in 2004, we lost the house 5 years ago because they should of never gave him a home loan. This was when giving bad home loans was legal.? I wasn’t even aloud to be put on the loan they straight up told me i did not exist but yet i’m the one that paid the payments every month. I lost a lot of money out of them.