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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
Countrywide sold my loan to BOA and added 50k to my loan!! How do I get in on this???
I never received anything from Country wide. I even put $50,000.00 down on my house and did a deed en lue. They never took it out of our name. But sold the house. We got nothing from the sale of the house either.
They also had my email and lawyers name address and phone number.
I had to go short sale; they accepted $57k over my begging to refinance my $122k balance on my mortgage. I was devastated, couldn’t comprehend. In learning about this settlement, it looks like l’ve missed it. I’ve searched for anything 2011 on settlements, and it looks like we might have missed out because of not being located since then. I hoping it’s not so. If anyone has anything current regarding Countrywide’s 2011 settlement, Please share it with all of us, as l know for myself, it would still help. God bless us all.
Have people recieved any checks yet? I believe I sent two post cards back in March and have heard nothing
My mother and I were also victims of the Countrywide loan circumstance from 2005-2014. We kept getting the run around when we tried to refinance. They kept saying they lost our application or didn’t receive our documents which wasn’t true. We even had our home foreclosed on. We signed up to be apart of the lawsuit, but we have never heard anything else about it.
Although I’d written to the Attorney General a few times about Countrywide’s fraudulent mortgage practices, I never got any response that directly addressed my issues. I was trying to re-structure my finances, as my husband had passed away. I re-financed with Countrywide. An attorney came to my house with the paperwork. Every time I went to ask about certain items on the documents, he said ” let’s just get through the paperwork, then I’ll answer all of your concerns.” When we finished the paperwork, I tried to ask some questions again. His response was “I have another closing to get to, call my office,” I went over the forms, but was unsure of what some things were. I called his office in the morning only to be told he was gone for a few days. I then told her that I wanted out of that contract, as I didn’t like a lot of things in it. Too many to list! I was told that I couldn’t. I believe that I have more than 12 hrs. to negate a contract, but I had no place to turn. I am now paying for a house that I will never own. It would have been nearly paid for had it not been for this horrible company. BOA bought the mortgage, Interest rate was deplorable, they refused me a modification….you get the idea. Wrote another letter to the Attorney general. They said they would look into it. Never heard anything back. I don’t know if it’s true, but I was told that our Attorney general had his fingers in the Countrywide mess, but I never found out where that information originated, so I have to assume that it was conjecture. I asked their office to look into BOA’s practice of “losing” the forms sent to them for modifications. I kept sending them, they kept losing them. Finally they “sold” the mortgage to Specialized Loan Servicing. They did the same thing……..lost all the paperwork. I kept sending it, they kept losing it. When I finally got a modification, it was for a much higher amount that included the original inflated amount of the property plus various other charges. I still owe more on the house than it’s worth. These people kill the American dream, and line their own pockets at the expense of hard working, honest people.
I recieved post cards re country wide law suit several months ago, mailed them in, just wondering if they were recieved? I know they appraised my property way to high, I was told it appraised at184,000 but in talking to other mortgage co, that was a lie
I received class action lawsuit post card but was misplaced, I’am trying to get the contact number to file a claim. I have never received any settlement checks and was wrongfully charged about $10,000, and have since moved from that residence.
I have nvr received anything from Countrywide about the settlement especially a check. My address is the same!!!
Me or my wife never received any settlement from these banks either where do we even begin look for funds from the settlement we moved also numerous times
with all these events that occurred years ago.
Mr Mrs Lawrence &Robyn Pierce
We where screwed when the houseing market went in default also lost our home we moved but never got any settlement file bk13 and 78 trying too save our home but we couldnt afford it they kept going up with payments.