Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
Checks Go Out in National Mortgage Foreclosure Settlement
By Mike Holter
Checks went out this week to hundreds of thousands of borrowers participating in the National Mortgage Foreclosure Settlement. Homeowners can expect to receive approximately $1,480 each as part of a $25 billion settlement with the nation’s five largest mortgage lenders.
The payments are intended to compensate borrowers who experienced foreclosure abuses between 2008 and 2011 from Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo.
Borrowers that submitted valid Claim Forms by the deadline of January 18, 2013 will receive approximately $1,480 per loan. The exact amount of payment is being withheld to help prevent fraud.
Distribution of the National Mortgage Foreclosure Settlement checks began Monday, June 10, and will continue through June 17.
Every borrower who filed a claim should also receive a letter regarding the outcome of their submission. Payment questions can be directed to Rust Consulting at 866-430-8358, but currently, the Settlement Administrator is not able to provide specific mail dates for individual borrowers.
More information on the National Mortgage Foreclosure Settlement can be found at www.NationalMortgageSettlement.com.
Updated June 12th, 2013
All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
11 thoughts onChecks Go Out in National Mortgage Foreclosure Settlement
I live in Illinois when do our checks go out ? I am also disappointed we lost so much more that what we r getting …