Independent Foreclosure Review: 1,135 Borrowers to Receive Max $125,000 Payment in Fraudclosure Settlement

review

1,100 borrowers to receive max $125,000 payment in foreclosure settlement

Federal regulators announced this morning that foreclosure reparation checks to 4.2 million borrowers will go out beginning Friday, including payments of $125,000 each to 1,135 borrowers.

The checks are part of a $3.6 billion settlement reached earlier this year that replaces the failed Independent Foreclosure Review, which few eligible borrowers applied for. Borrowers are eligible for the money if they were in any stage of the foreclosure process in 2009 or 2010 and had their mortgages serviced by Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo.

Hundreds of thousands of Florida homeowners will receive the checks, including an estimated 50,000 in Palm Beach County.

The checks will be sent in several waves, beginning with 1.4 million on Friday. The final wave is expected in mid-July 2013.

The payout amounts are based on the level of wrongdoing and whether a home was ultimately repossessed by the bank.

For example, homeowners who applied for a loan modification but never received an answer will get between $400 and $800, while homeowners who had their home repossessed even though they weren’t in default will receive $125,000. Just 53 homeowners fall into that category, but another 1,082 homeowners who were foreclosed on despite being eligible for the Servicemembers Relief Act will also receive $125,000.

Rest here…

~

4closureFraud.org

Comments
35 Responses to “Independent Foreclosure Review: 1,135 Borrowers to Receive Max $125,000 Payment in Fraudclosure Settlement”
  1. Alva Brule says:

    Hi I am still waiting since I had to do a change of address . It’s been 2 months now , to still here not yet. I ask about the mortgage settlement . That say they can’t help with that information , I can’t remember if I signed for that one. I know I filed independent foreclosure review. Can some one help me please, this is really sad . Not to say they lied to you first then still your property, then wait and go in rotation to receive your payment that I still don’t know what category I fall in . I don’t know how much I am receiving . I am filling a complaint with know knowledge of the errors I am under , because rust want tell you anything about your settlement , I guess they stealing the interest of the money , so the lie now is , I sent in my change of address on May 15 2013 I am still waiting . The last payouts was suppose to end by mid July . It’s August now still waiting. Can anyone help ME

  2. g says:

    Almost the same thing happen to me. I also had JP Chase as a lender. My loan was transferred to them and it was a nitemare.

  3. Keith says:

    I beg everyone who does not get at least $125,000 fight to get more!! Do not let these people take away all your hard work for you and your family and give you peanuts and send you on your way!! Please lets all get together and fight these crooks, because this is just wrong!! And I mean very wrong!! I can be reached at apps126 at gmail if anyone wants to come together with me! The bad thing about is the attorney general is not going to play fair as well, them crooks is going to keep some of that money for themselves!! Its not regulated so why wouldn’t they!! Everyone who read this please I beg you to contact me so we can fight these crooks for what they have done to us and our families!!

    • lorrie says:

      does ANYBODY find it ironic that the comptrollers last name is MORGAN……..as in JP “MORGAN CHASE” without the jp……..seems pretty shady whats going on ….really?

    • Caroline says:

      I agree !! We must band together and demand that these financial institutions make a ligitimate effort to compensate every Homeowner that was and/or is still being adversely affected by their illegal and immoral practices. The minuscule checks that were sent to families that were devestated by their lack of concern or communication are beyond comprehension Let’s file a class action lawsuit against all of the banks that are involved in the unethical practices Today !!!!

      • Keith says:

        Ok well lets get it started everyone! There has to be someone here that knows how to get a class action lawsuit going! Please step up and lets get it going! Here is my email address and a message phone if anyone wants to contact me!! Let’s do it, let’s not just talk about it because these crooks will just keep doing what they are doing and the same thing will keep happening over and over again!! I lost my shirt to these crooks and I refuse to let them just give me a couple of pennies smile in my face and tell me to beat it and no one who has had this done to them shouldnt either!! My email address is apps126@gmail.com and my message phone is (702) 706-4887 or reply to this post. I am ready to do this so lets make it happen everyone!

        Keith

  4. aquita says:

    I received my check and didn’t cash it as I am to afraid to do so. We are still in our home and its been foreclosed on by JP Morgan Chase. Do you know while we were sleeping they came into our home by removing the lock on the front door! They claimed they thought the home was vacant…….it was a listing agent and a locksmith coming to change the locks on our home. They called the police claiming they thought we were squatters in abandoned home. Well police came and we had to show our identification to prove we are the owners of the house. That’s crap!!!! Then the agent apologizes claiming she was scared and had to make sure we belonged in the house. She also, claimed they served us papers which they never did…..3 days later a paper with her name and number was posted on our door saying the house was foreclosed on and that we needed to contact her its been a mess since. Chase has not responded to anything prior to our house foreclosing. We made several attempts to work with them on remodification with no success. My husband is a retired disable veteran, who was medically retired from the Navy for 2 different sleep disporders and now diagnosed with a rare heriditary eye disease where he is going blind. We don’t make the money he made when he was in the service and I lost my job and have been trying to find another one……I feel we will be on the streets soon its only a matter or time. 300 is nothing that will help us with 2 kids and 2 dogs….so sad that so many people who work hard or lose jobs suffer this way and can have their homes so easily taken…..the world has changed!

    • BOBBI SWANN says:

      What state are you in? Check your local county records to see what has been filed on your property? They can help you do the search or go on line and do the search from there. What they have done to you is monsterous!!! Veterans should not be treated like this. This is totally disgraceful and just makes me ill! Also contact your Attorney General’s office and let them know of the situation as well. How about getting in touch with Occupy Our Homes? They have done great things in the past. Contact your local TV station. Tell everybody!!!!!

    • Vetta says:

      May 7, 2013

      Top Democrats Introduce Legislation to
      Protect Military Families from Foreclosure

      Washington, D.C. (May 7, 2013)—Today, Reps. Elijah E Cummings, Mike Michaud, Adam Smith, Susan Davis, Mark Takano, and John Tierney, the Ranking Members of the Committee on Oversight and Government Reform, the Committee on Veterans’ Affairs, the Committee on Armed Services, the Subcommittee on Military Personnel, the Subcommittee on Economic Opportunity, and the Subcommittee on National Security, introduced H.R. 1842, the Military Family Home Protection Act, to strengthen foreclosure protections for U.S. military servicemembers and their families.

      The Military Family Home Protection Act expands foreclosure protection to all servicemembers regardless of when they purchased their home.

  5. Dee says:

    I saw somewhere people are putting together a class action suit against the banks. Does anyone have any info on this as to where we can sign up for this. We were foreclosed on twice. We tried to sell under the short sale but Litton would not reply. Paid 5000.00 for a modification, didn’t lower our payment, just changed the interest rate. Put everything behind our loan, still couldn’t make payments after loosing job. So we filed bankruptcy, Litton would not reply to that either, ended up selling loan to Ownit(HSBC) knowing we filed bankruptcy and had to go through foreclosure again. We owed 189,000.00 and they sold it for 82,000.00. Would have been nice if they could have done that to us.

  6. Bev says:

    I am still in my home…can I cash this $1000.00 check, I never even got final answer from Chase…Sent in my paperwork at least 10 times, never heard any answer…I need this money. What should I do ?

  7. I received my miserable 300 bucks today, it says FINAL…..Thank you for nothing Ms.FLorida Atty. Grl. Pam Bloody Blondy or whatever your name is.
    I lost my home to a pretender lender, a bangkster if you will. and the old farts retired judges we have here in Miami Dade dont give a rat ass. America Home of the what………..I forgot…..The american Nightmare (Not dream anymore._)

    • Michelle says:

      That’s the national mortgage settlement… You haven’t got that check yet

    • sharon by accident says:

      Ossie, that is the independent foreclosure review check you have received, it isn’t the National mortgage foreclosure. That check will come in this summer. It starts at $840 and up to $2000. Unlike the Independent foreclosure review you didn’t need to submit a claim, The National Mortgage Foreclosure you had to fill out the claim before Febuary 13 or 15 2013 and sent it off.

  8. Sandra says:

    wow. when i got my postcard it said my minimum payment would be 850.00. Not alot considering I lost my home of 22 years.. But i had read somewhere that with my situation I would most likely be getting 2.. so Oh well. 2 k was to put down on a used car that I need desparately. Well guess what .. I got my payment today. 300.00 whattttttttttttttttttttttttttttttttt! just enought to cover my storage bill for a month and some change.,I have been paying for 2 years now totalling now about 2400.00.. Am I supposed to be happy. Who got the other 550.00 is that my lawyer fee. Oh I am sick..

    • Michelle says:

      You got money from the indepedent foreclosure review… The other one for 2000 is from the national mortgage settlement

    • sharon by accident says:

      Sandra, did you fill out the National Mortgage Foreclosure claim form, that is different from the Independent Foreclosure Review. What you have probably received is a check from IFR for $300. t NMF that check start at $840 up to $2000 if you loss your home in foreclosure.

  9. Trina says:

    WHAT A JOKE!!!! Got my $500 check today!!!! I Qualified for a Loan Modification and while waiting for the Bank to send me the paperwork was foreclosed on!!!!!

    • shirlieperry says:

      Same here…was on the phone when they foreclosed on me…literally sending a copy of my daughters Ssi disability papers by fax at mother in laws..came home and foreclosure signs set up in driveway and my home and he’s was sold for one hundred forty two dollars while my equity of those years was taken too. The appraised value was two hundred fifty according to them. The town appraisal was three hundred fifty. Twenty seven years of perfect payment history…meant nothing. Oh, did I mention that Freddie Mac was the owner now. There is apparently no relief if it is owned by Freddie Mac. So I don’t even get equity… I’m fifty eight with a bone tumor and disabled daughter I care take and I am just so sick over this and my prayer for relief is not even acknowledged. How can this ponzi scheme be legal? It has taken its toll on m whole family….

      • shirlieperry says:

        I meant thousands…not hundreds on the value of my families home. By the by it is all about the Benjamin’s for the federal governments investment portfolio…not about the indviduaul who is now without a golden years secure home that I paid for my whole life and it is no retirement home r anything to leave my children…it is about lining the pockets of the government to steal from peter to at Paul. And I am a necessary pawn to sacrifice.

  10. Sylvia Casterton says:

    I had BETTER NOT GET $300 FROM THIS. THERE WERE 4 OFFENSE 2 FOR. 50000 comp.
    Have you all seen the breakdown of amounts? I will post if interested.

    • Fury says:

      stolen home= $1.5 million
      bogus check that was supposed to compensate stolen home= $300

      “The payment amount is final.
      There is no process to appeal the payment.”

      well of course not.

      this is america. we have been swindled and no one gives a damn.

      • Fury says:

        p.s.

        DO NOT ENDORSE YOUR CHECK!

        they are counting on desperate defrauded homeowners to sign away their
        rights for a freaking $300!

  11. This will not cover my lawyers bill $2800.That is 2 modifications by attorneys,2 by myself that was turned down.

  12. Elissa says:

    They should all be put in Jail and live off bread and water, not all the money they were stealing from famies…Its a sad state we live in, like my granddad told me the all those ceos and big bankers are getting richer off our money..He said to me the other day, they should all be whipped behind the barn…he lives and grew up on a barn and that why he says that all the time..he is a great granddad…I agree with him..Hope everyone on his gets a good amount..Me, mabe the amount I get my buy food only…PS..they threw me out with out trying to help me and I paid so much..I even have a disabled child when they threw me out of my house and they did not care…my daughter started to cry and one of the men that came to tell us to get out, he said to her, your mom could not pay her morgage, I said to him, you crossed the line sir..I am reporting you, which I did and he did get in touble..I told him stay away from her and my other children and do not even look at them..You are a very sad person..Then I got my stuff and walked out..they are low life.

  13. Dmaple says:

    Well looks like beans and franks for the duration of my life. 7 years of equity lost living in a camper and no job thats to gready share holders. GOD BLESS AMERICA they can run me into poverty but they cant eat me. Or can they??

  14. Lupe says:

    Be fair we all suffer tha same. Divide the money into equal amounts. Sending 300 to someone that lost their house is like putting them down again.

  15. Sarah says:

    Most, if not all payments, are below $1000. That should cover 3 weeks rent and expenses.

  16. flanow says:

    They can stick it up their criminal asses…as far I am concerned!!

  17. Tim says:

    joke…….how would you feel if after surviving a BOA foreclosure you get a 300 dollar compensation ..:/….what a mess, 11 big banks lol…..and sounds like they are guessing the compensation amounts in most cases…….
    70 Trillion in theft=3 billion in resolve…….doesnt add up

  18. BOBBI SWANN says:

    I’m sorry. I got one of those letters from Russ or Rusk, whoever. I would much rather see prosecutions of the crimminals then take this money. And I just got my hours cut on my 2nd job….Still no prosecutions! Those dollars aren’t going to make them ‘clean’ again. The whole lot of ‘em are dirty: from the bankers to the politicians. And some of the comments on the PB Post who ran this article just goes to show you how rampant ignorance really is. My poor computer screen…it gets the brunt of my anger most of the time.

  19. fed up says:

    What a joke this is criminal

    • Bev says:

      Can I cash this check ??? I am still in home with kids…need this money.

      • lorrie says:

        seems a little fishy that the comptrollers last name is MORGAN……..as in JP “MORGAN” without the jp……..seems pretty shady whats going on ….really

      • sharon by accident says:

        Yes, Bev you can cash your check sent by Rust. I received my check today for a few grands. I thank God for it, but I’m pressing on for other remdies to solve this wrongful foreclosure place on my home. I’m still in my home. The foreclosure was file on my home due to servicer error. They’re trying to put it on the computer error, but who program the computer, they do.

Leave a Reply