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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
My wife and I had two bad loans with countrywide and we never heard anything about a settlement.
I have applied hoping to receive my portion of the Country wide loans law suit.
I’m still waiting haven’t heard anything back yet about the lawsuit since it began. Countrywide gave me a home loan then a 2nd mortgage knowing I could not afford it. I ended up filing bankruptcy on my 1st and 2nd mortgage when it was being sold to BOA. Before the bankruptcy was finished Countrywide sold my 1st and 2ndmortgage to BOA who came after me and charged all kinds of late fees and raised my payment. I filed bankruptcy and in October of 2009 it was finally done. Bank of America still coming after me even though the loan was discharged. I lost everything because of countrywide then BOA. I need someone to contact me please. I’m tired of getting the run around for years now when I try to call the attorney generals office to find out when I’m supposed to get reimbursed. My 1st mortgage was sold by BOA again to another company so I’ve been making that payment so I have a house to live in but can’t afford to pay my 2nd mortgage that BOA has added over $25,000 in late fees to. I need help asap.
I bought a manufactured home in 2005 from Country Wide. Bank of America Bought Country Wide, in 2006 ? In 2009, I spent over a year with BOA, trying to reduce the 8.75% interest rate I was in to something less. I was told it was a manufactured home, and Bank of America does not deal with manufactured homes. I don’t know who owns the loan, but I pay Bank of America, every month !! I saw the lawsuit against BOA for the wrong doings of Country Wide last month, and I sent them a letter to the effect that they owe me $22,000 in over charged interest I had paid.
I bought a manufactured home in 2005 from Country Wide. Bank of America Bought Country Wide, in 2006 ? In 2009, I spent over a year with BOA, trying to reduce the 8.75% interest rate I was in to something less. I was told it was a manufactured home, and Bank of America does not deal with manufactured homes. I don’t know who owns the loan, but I pay Bank of America, every month !! I saw the lawsuit against BOA for the wrong doings of Country Wide last month, and I sent them a letter to the effect that they owe me $22,000 in over charged interest I had paid.
My husband lost his house cause of countrywide denying him a loan modification. Then send us a letter stating that an employee sold his information to someone else. What can we do
I also had a horrible rate with CW. When I refinanced afterwards the new lender said I got raped. I think it was 24%. Was never contacted.
I to had a loan with countrywide and then they sold my loan to bank of america, can I still get a check
Very bad refinancing with fourteen violations by countrywide, got a notice, but never heard anything about no settlement so far, the audit was done by NACA!!!
Dear Sirs:
I had a home equity loan with Countrywide/Bank of America and was likely a victim of Lending Discrimination by Countrywide Financial Corporation; later acquired by Bank of America.
Although I was sent several notices over the years indicating that I was a borrower affected by this injustice, yet I have not been notified of any settlement regarding this matter.
Please assist me in finding out the details regarding any settlements pertaining to this matter.
Please contact me in this matter of the fees and the refunds that countrywide and Bank of America owe us for the loan that we had with countrywide and Bank of America my mailing address is 5839 Belmark Houston, TX 77033 .. my husband and I were miss treated by countrywide and Bank of America …Jeffrey Castille and Marva..PS should we get a lawyer to look into this ?