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Countrywide Settlement Refunds Go Out to Abused Homeowners Print Email
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Monday, 22 August 2011 10:43
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Countrywide Settlement Refunds Go Out to Abused Homeowners

By Matt O'Donnell

 

CountrywideThe 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 or visit the settlement website. 

 

 

Updated August 22nd, 2011

 

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Last Updated on Thursday, 27 December 2012 11:09

Comments   

 
#25 Bethani 2013-04-23 23:01
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.
 
 
#24 Sarita 2013-04-11 21:21
I received notice I would be receiving a check. Where is my check?
 
 
#23 Alex 2013-03-26 19:29
STILL NO CHECK.......... ...WTF
 
 
#22 Stacy Mayberry 2013-01-29 22:35
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.
 
 
#21 Philip 2013-01-27 19:38
Had a loan with them for 10 years, If I was late they would hit me with thousands of dollars for nothing, borrowed 193,000 and ten years later I owed them $210,000 I figured I gave them a total of 260,000 over the course of ten years. Even tried a lawyer to go after them and all I got was another bill for three thousand. The system is so messed up to allow these lenders to suck us dry. God help our kids!!!!!!
 
 
#20 Tim 2013-01-08 13:18
in May 2007 i refinanced my home my per month payment including taxes and insurance was set at $1100.00 per month to be put into escrow, it was a fixed mortgage.i made the payments every month online. when i was set to make my Jan. 2008 payment that according to the contract i signed was to remain $1100.00. I was shocked to see the statement required a $2100.00 payment.How could this be? i wondered and was sure there was a clerical error.So i contacted Countrywide expecting to have the situation resolved when i was informed that no i owed for some sort of back insurance and i needed to pay to avoid any late fees or foreclosure proceedings for refusing to pay the additional $1000.00 per month. I inquired if it was a one time payment and they responded with a no it is a new monthly payment.I was bewildered beyond belief and was feeling that they purposely were trying to financially put me in a bind to acquire my property I am an honest working man and was comfortable with the $1100.00 a month payment that was stipulated in the contract i signed. the only way i could make the payments on time was to charge the additional money to my Visa card until i could get some answers as to why the payment suddenly changed which made my credit card payments unbearable for the next six months. my life ,and american dream became a nightmare. I juggled bills as long as i could hoping to get answers or a call saying that there was a mistake made. I received neither. The stress of a dream turning to a nightmare got worse not only with struggling financially but receiving a letter stating my bank account was being closely watched by the F.B.I. because a "former" Countrywide employee had sold my identity. I thought to myself maybe there was a scam and someone was taking money from me that shouldn't have and my homeowners dream would be set right, but by this time my Visa payments with the extra $1,000. was adding to the stress of the juggling money to make ends meet and my once set future of happiness began to unravel even after taking on extra work to hold on to what any person strives for a piece of property to call home and the dignity of being a part of the land of prosperity. Being a construction worker... my time to consult lawyers and seek counsel was slim to non-existent. I kept my nose to the grindstone and worked hard to keep a hold payments became late and skipped for my Visa and late for my mortgage which required late fees, just so i could keep basic amenities of power , water ,food, gas, and communication I did without luxuries that i once could afford such as cable television or internet and the fridge became increasingly bare. I was a grown man crying, my life was taking a downward plunge that i could do nothing to avoid, "helpless" was a word that became a reality. I knew my sovereign secure feeling i once had was doomed. When BAC homeloans acquired Countrywide I was hoping that maybe they would help and may have some answers as to what happened... I was again bewildered to learn that they had no records of my dealings with Countrywide but my payments went down to $1350.00 a month which at the beginning i may have been able to swing but i was too far in debt to climb out. My Visa has a $10,000 debt my home has since been foreclosed by BAC and auctioned off , to add to my misery i was laid off from a job that i had for 22yrs. I am now a statistic of the present times " An American Homeless Person" with no hope, no American Dream and no future of ever being as happy again as the day i owned a piece of the "Land of Prosperity" barring a lottery miracle :)...Anyway I hope whoever at Countrywide that wrecked my life doesn't get a good conscience nights sleep knowing that they alone have ruined the American Dream for i assume countless others besides me. I have been swindled down to a panhandler i assume by the end of this month and America has lost its luster thanks to shady corporations, their greed of pocketing what isn't theirs
 
 
#19 elizabeth 2012-11-24 08:41
they charged me for a fake forclosier. now my credit is shot, thousands of dollars gone. and I never received a penny from them or anyone. crountry wide are nothing but scamer's. ty from a divorced single mother of five. I hope your proud
 
 
#18 carol 2012-10-25 16:15
Countrywide (BOA), U took my house & I want my $25,000 down payment back. We All want our money back.
 
 
#17 Rosemarie 2012-10-24 20:51
Please forward information. I haven't received any refund from this settlement
 
 
#16 Rosemarie 2012-10-24 20:49
Haven't heard anymore about the outcome. Know settlement has been made. I haven't received any settlement from all this. Please respond with information. thank you
 
 
#15 Larry 2012-10-24 19:16
My brother and I have called the number. I do believe we meet the requirements for the settlement but have not received any notice. I deeply feel we are a prime example of what this lawsuit is intended. In 2005, my brother and I was sold a 3 bd 2 bath home for around 240k a home we also shared with our mother. Although this was an investment between my brother and I we gave the master bdrm to our mother who must sleep with a breathing machine. My bother and I made several improvements to our home including instilling a new driveway ourselves. We had two loans that started with Country Wide (B of A) for $2,400 a month. I do believe the loans were manipulated by the finance company. We lost our home to foreclosure sale in May 2008. My brother and mother now share an apt. and I stay with my girl friend. But we all miss our home.
 
 
#14 Edward & Elizabeth Collazo 2012-10-02 19:54
We bought our home in 1997 and we paid 74,000,4,000 down. My husband lost his job we still tried to pay and did pay so much...countryw ide aka Bank of America says we owe $110.000 dollars. I wish you could see our home it was built 1981 and we have had so many floodings from toilets,electri cal fixtures dont work,roof falling leaking,garage roof feel due to over flow upstairs toiltet. we have a son with asthma and if someone were to care to see they would know that we have been cheated and we are suffering with hardship. I wish someone would help us with information. I will do the running I just need contacts...so that we won't lose our home..why stay? it is our home...were do we go....I am 54 unemployed paralegal and my husband is a retired teacher...and we have three kids ranging from 19,20,24 with a wife and two grandchildren., God help us... We don't want charity we just want a chance to make it right....
 
 
#13 GSummers 2012-09-24 11:30
I received a check in the amount of 100.00. However, what can be done about what they did to my credit by refusing to accept my payments for 10 months? Answers anyone?
 
 
#12 CARLOS B. MORAN 2012-05-08 21:57
I was in part of the lawsuit because some one in country wide sold personal information from lenders, I called once and some one told me that I will get a phone call in return or mail, I never got anything.
 
 
#11 H Washington 2012-05-03 16:07
I got my check today! A whole $83.00! Fuck you Bofa and Countrywide!
 
 
#10 B Evans 2012-05-02 09:04
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..
 
 
#9 Laura Monk 2012-04-17 15:50
I have n ot received a check either and my home loan was also with Countrywide?
 
 
#8 evelyn olagundoye 2012-02-03 21:41
whats up with my check
 
 
#7 francis williams-bongay 2012-02-03 21:39
i have not yet got my check whats is going on
 
 
#6 elaine burns 2012-01-23 23:06
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...
 
 
#5 Linda 2011-12-30 20:55
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.
 
 
#4 Kenneth Calogar 2011-12-30 20:00
Where can I find to claim the settlement?
 
 
#3 Karen Stinnett 2011-12-27 08:39
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???????? ?
 
 
#2 David Karr 2011-10-15 19:12
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.
 
 
#1 Jamie 2011-09-25 00:26
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???
 

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