400,000 Foreclosure Settlement Checks Sent To Wrong Address


400,000 Foreclosure Settlement Checks Sent To Wrong Address

Like millions of Americans who tried to stave off foreclosure in recent years, Lanette Worles says her bank repeatedly lost vital paperwork she submitted, scuttling her chance at saving her home.

Now, as Worles attempts to collect on a legal settlement intended as a remedy to just this type of practice, she confronts a depressingly familiar predicament: The check for her share of the settlement has gone missing, too.

“It’s been a total nightmare,” Worles, who lives in the Detroit suburb of Allen Park, Mich., said of her effort to track down the check. It was apparently mailed months ago to the wrong address, despite her attempts to correct the mistake in advance. “It seems like such a simple fix,” she said.

Worles is one of 4.2 million homeowners who qualify for a share of the $3.6 billion in cash payouts as part of the foreclosure abuse deal. And she’s one of 400,000 whose checks could not be delivered because they were sent to the wrong address, according to the Office of the Comptroller of the Currency.

That amounts to 10 percent of all foreclosure settlement checks mailed so far. The return-to-sender problem could go a long way toward explaining why such checks totaling nearly $1 billion have not yet been cashed.

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3 Responses to “400,000 Foreclosure Settlement Checks Sent To Wrong Address”
  1. Mystify says:

    Remember when you vote that Obama was backed by the banks and Goldman saks, we just can’t get a break from these scum bags!

  2. Rust purposely made the checks look like junk mail so people would toss them, many homeowners tossed and driven from their homes have no clue what has happened or the checks were coming and it appears the banks purposely sent the checks to old mailing list. So is this any surprise? The amount the banks paid does not match the crime on their list, it was all a crap shoot.

    • PigSlayer says:

      No It’s all CRAP in the first place. They knew that the recipients to those checks have been displaced from those addresses and I’m one! I’m homeless now because of there fraud and theft. So where did they send my check? To My stolen address? And probably to the recipient to that address because if the checks are cashed then there obligation has been filled. They don’t care whom cashes it. It is chump change any how. Three hundred dollar’s for a house and trillions in fraud damage? Hardly a restitution. My water bill was 4time that! Every politician that voted to support this fraud should be jailed for treason for there incompetence in protecting the people and standing for the rule of law starting with Obama and his entire addministration.

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