Foreclosure Settlement Checks Bounce. Some of the foreclosure checks bounced. A bunch of big banks agreed to a $3.6 billion legal settlement a few months ago to halt a review of improper foreclosures. Under the settlement, checks will be sent to more than 4 million homeowners who lost their homes to foreclosure in 2009.
The megabanks have now completed their obligations under the 2012 National Mortgage Settlement (NMS), according to a report. including about 40,000 homeowners who got “transitional funds” checks to.
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Some of the foreclosure checks bounced. A bunch of big banks agreed to a $3.6 billion legal settlement a few months ago to halt a review of improper foreclosures. Under the settlement, checks will.
. with some checks have been corrected," and that all funds are available for the settlement checks to be cashed. An independent review of banks’ foreclosure files was ordered by regulators in April.
Foreclosure Settlement Checks Much Smaller Than Regulators Forecasted Adam Crain reckoned he was due $125,000. That amount would come as compensation for losing his Oak Harbor, Wash., home to foreclosure while he was serving aboard a naval vessel in the Middle East.
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The checks, for approximately $1,200, will be distributed beginning Feb. 17 and all checks should be received within a few weeks." Hope this helps. The problems with the independent foreclosure review settlement checks keep coming. Most recently, it’s been exposed that over 400,000 settlement checks have been mailed to the wrong addresses.
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The historic $25 billion national mortgage settlement reached in February could result in direct payments to more than 12200 Idaho borrowers.
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Checks issued as part of the Independent Foreclosure Review Payment Agreement expire 90 days after they are issued as a means to limit fraud. If your check has expired, please contact the paying agent, Rust Consulting, at 1-888-952-9105, Monday through Friday, 9 a.m. – 8 p.m. ET or Saturday, 11 a.m. – 4 p.m. ET.