Are The Rust Consulting Independent Foreclosure Review Checks Bouncing?
We are getting reports from the trenches that the foreclosure settlement checks that were mailed out Friday to harmed homeowners are bouncing. Other reports are coming in that there are insufficient funds to cash. We would assume what is happening, if at all, is the latter since it takes time for a check to clear, or not.
We have not been able to confirm as of yet but will post results as soon as we get them.
If you had your check denied for insufficient funds or any other information regarding the cashing/depositing of the checks email us at info@4closureFraud.org
A quick Google search shows that Rust Consulting has had issues with this in the past…
Nearly 600 Michigan homeowners who were owed their share of a $27.5-million class action are angry that the checks bounced, leaving a trail of fees and frustration.
Rob Lalain, 34, of Novi was one of the plaintiffs and said his check for $635.34 dated Sept. 5 bounced. He was hit with a $10 bad-check fee.
“It’s pretty damn weird. It is a $27-million lawsuit, and they are sending out bad checks,” Lalain said.
Lalain is one of the more than 66,000 new-home buyers in Michigan who won the settlement after they were overcharged for title insurance while home builders got discounts. The arrangement violated federal law.
The settlement, approved in February, applied to people who bought newly built homes between December 1998 and July 2005 and purchased title insurance from Chicago Title Insurance Co. of Missouri, Transnation Title Insurance Co. of Arizona, First American Title Insurance Co. of California or Lawyer’s Title Insurance Corp. of Virginia.
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The problem was caused by an error by U.S. Bank of Minneapolis, he said. Yellen said he hired Rust Consulting of Minneapolis to handle the payout to plaintiffs in the class action. Rust then arranged for U.S. Bank to accept the funds from the defendants and handle the check processing to the class members.
Rust Consulting declined to comment Wednesday, and a U.S. Bank spokeswoman said she had no information on the matter.
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Has anyone in South Mississippi received a check?
2 Questions please…. Does anyone know if there will be settlement for those who were foreclosed on after 12/31/2011? Bank of America kept postponing my date (even after independently changing the locks on my home in the summer of 2011). I got an insulting small amount from Rust but the National Settlement people said I didn’t qualify because my final foreclosure was March 2012. Question #2 Is anyone familiar with an attorney in North Carolina who would take on my case with Bank of America….all that I have contacted so far state if they did they would have a “potential” conflict of interest. Thanksmuch
the lawsuit specifically says a minimum of 840.00 Why are checks for less than that going out at all. The 840.00 was if every person that was eligible filed. I don’t understand……
I should have received $125,000.00 according to the latest OCC guidelines. I got a check for $500.00.
I want to join a class action lawsuit. Anyone with info on a class action please reply.
Thoy did you only have your house for 2 years? Just wondering if ppl get more the longer they have had their house.
$500 fcuking check!! What an insult over 2 years of nightmare!! Thanks effing Wells Fargo!!!
The best way to verify your check is to go to your financial institution, present your check to a branch manager and have them call the number on the back of the check to verify funds. They will receive a confirmation number after calling. I would reccommend you putting this check in a savings acct and waiting for 10 days for the check to clear.
Kristy you should be getting yours they send them out in waves.the first wave was sent out on friday april 12.the second wave just went out on friday..then I think the 3rd wave is going out on next friday its not a scam..I called them yesterday and that’s when they told me the sec wave went out on friday and mine was sent.but they could not tell me how much I will be getting:\
I received a notice from Rust Consulting I was receiving payment in 4-8 weeks. Not the 2nd wave of checks have gone out and they told me mine would come by August. This whole system is fraudant. Where’s the check and balances for these banking regulators. The same people who made this mess, decides how much to compensate people. Where’s their oversight committee. Big banks win again.:/
Has anybody received any monies in Texas regarding the foreclosure settlement checks. Thank you!
I received mine yesterday and I live in Texas.
I just heard the second wave of checks was mailed out Friday
Can anyone tell me how to tell how much people are suppose to get.I looked at the table that has different amouts but its confusing to me.
Independent Foreclosure Review is NOT a scam. The checks are legit. I am supposed to get a check, I called and had to do a change of address, which takes longer, but it’s not a scam. The checks that were bouncing was an issue, I believe they have cleared it up. The website has all of the info. https://independentforeclosurereview.com/Settled.aspx
Just call them if you don’t believe it’s true. I did just read about the National Mortgage Settlement, which is totally different from Independent Foreclosure Review. Do the research.
The person I know that got a check for 400 cashed his and it did not bounce..its not a scam
I cashed one today for $400 with no proble
ms!
I got a check here for $3000. Only problem is that I no longer have a bank account. I refuse to let the big banks win again. My $3000 is because we did everything Chase Mortgage asked us to do, but they still took our house after we fell behind.
A relative of mines received a check from Russ Consulting 3 days ago for 31k, not sure if she deposited yet, but it surely was a shock & a blessing.
am so happy for her, Kay, perhaps her docs were so messed up and they wanted to make sure she does not go after more…but ironically now she has the funds to file her own lawsuit…LOL
If am not mistaken – should this person who got the 31K – have submitted paperwork for review – the check would’ve been for $62,500.
Here is the chart. One of the several columns is for payments to borrowers who submitted pw for a review and one of the other columns is for borrowers who did not submit pw:
http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20130409a1.pdf
Are these checks being sent in alphabetical order??? My last name starts with a Z!
I think several people are getting confused about the $840 min. payment and the $300 check people have recieved. National Mortgage Settlement and Independent Foreclosure review are two seperate settlements. The National Mortagage Settlement is the one that claims a min. payment of $840.00(actually more now because not all people filed claims)these checks will go out mid 2013. The Independent Foreclosure review has a min. of $300 and that has NOTHING to do with the other one.
I know someone who got a 400 check..I wonder why some people got 300 and some got 400.I still have not got mine..they said they are going to try sending most of them out by the end of April.
The 840 $ check will come mid year they are different
The national mortage settlement is different than the independent forclosure review..everyone is suppose to get your 840 mid year
Sad that I also did not get what I thought I was suppose too. Its also sad that these big bankers and CEO’s took our money..I am sad for all of these families that lost all and had no place to go like me. I was thrown out with children and one disabled…They came to my house and said get out and then to top the cake I told them let me get a few things and they said just your bag..Then while I was getting a few things, this banker and lady from a bank said to my little 6 years old, your mom did not pay so you have to leave..I looked at him and said, stay away from my children, do not look at them, and you went over the line and I want your name and title right now..You do not talk a 6 year old like that..I reported both of them…Well, prays for everyone…Sorry who did not get what they were suppose too..It sad..
The $800 promise was from the National Mortgage Settlement not the Independent Foreclosure Review. I too am waiting for both. She should be getting another check by mid year for the National Mortgage Settlement.
Thank you, Christine. It can be a bit confusing…I thought they went together. Do you know anything about GMAC and Deutche? Were they not included in any of these?
My letter was from the state of Michigan department of attorney general and stated that if 100% of all eligible borrowers submitted a claim payments would be at least 840.00 each, so I’m not sure what these checks for 300.00 from Rust Consulting are about. I would also think that if the state sent me the first letter, I would expect they would tell me that Rust would be the ones distributing the money. My friend just received one for 300.00 from Rust yesterday and it says final payment or something to that affect.
let’s file class action suits against the banks
I just got a check too? So from what I am reading these are a scam to cash?
No…If you don’t understand what this check is for try using, google…look up Independent Foreclosure Review. This is sepperate from the National Mortgage Settlement which you should also read up on…You can learn about both of these Settlements. This isn’t a scam
YOU CONTINUE TO WONDER WHY THIS COUNTRY IS TOTALLY RED LINING. YOU CAN DANCE, FLIRT, GET IN THE SACK WITH DEVIL HIMSELF, WHEN HE IS FINISH WITH YOU HE WILL KILL YOU!!!
See the release from the Federal Reserve. http://www.federalreserve.gov/newsevents/press/bcreg/20130417a.htm
This is a big scam by the banks and the regulators. Why is no one trying to start a nationwide protest against this BOGIS settlement where an independent review has turn into a structured scam without an INDEPENDENT REVIEW. Where is JUSTICE. The regulators have only play a role and scam to help the banks. Foreclosed victims should receive tens of thousands of dollars instead Russ Consulting is getting rewarded with Billions helping this SCAM to fall in place. Why is everyone SILENT. This is BULL T.
The Banksters win again! Pretty intelligent criminals who use that pen and paper to continue to steal from the American people!
I think people are jumping to conclusions. If you don’t have enough money in YOUR account and you come in with a check for several hundred or thousands of dollars your bank is going to ask you to deposit it unless you have enough money in YOUR account to cash it. There are articles out there saying that 50 million dollars of checks have been deposited or cashed. Once the bank verifies that the account has funds in it they will release the holds.
Cashing a check from someone at your bank should not depend on how much money you have in your bank. It depends on how much money that person has in his /her bank…the bank is also capable of checking if that check is good to cash or not if they wanted to…
Today the banks are given more power over their customers the consumers than ever before.
[…] And now there are reports that even those little checks are bouncing….ain’t that a fitting end……more here […]
Please fill out petition online and pass on to someone:
http://www.ipetitions.com/petition/russ-consulting-scam/
Michael: where’s the laughing mouse??? This is classic krap – need laughing mouse – the homeowner’s should be charging $35 a day for each day they can’t cash their krappy banks’ checks . . .!
I debated on the Mouse but this is SO ridiculous and insulting to every homeowner who was defrauded I decided not to use it. Did I laugh? Yes. But only because you can’t make this shit up. Perfect ending to an abysmal resolution process of the whole fraudclosure Crisis.
A relative of mine received a check for $300.00 when he was promised a minimum of $800.00 or even more depending on how many others opt out of the plan….the letter from Rush said that this is final and no room for appeal…he has not cashed it yet, just arrived yesterday eve.
Is there a way to tell who gets how much? Is there a possibility that Rush Consulting is not paying out the amount promised in letters to the defrauded homeowner? To be promised a minimum of $800.00 an getting $500.00 less does not seem kosher and especially when there is not room to appeal. Your thoughts.
Yvonne..there are two different settlements…the one you refer to about the $800 check is for the National Mortgage Settlement…these checks have not gone out yet. The checks people are referring to here are for a the Independent Foreclosure Review settlement….You can learn all about these two settlements if you google them.
I am so confused on this whole thing, I too was told min. 840.00 but received 300.00 and have read on line that there are no longer 2 settlements that there is only 1 and what ever you get, you can’t do anything about, I hate Citi Mortgage for what they put my family through, and to end up with 300.00 is a slap in the face… Can someone tell me where you got the info a another check is coming?
Here’s a link where several people who attempted to cash their check were advised there were not sufficient funds:
http://uprisingradio.org/home/2013/04/15/the-nation-foreclosure-review-report-shows-that-the-occ-continues-to-bury-wall-streets-bodies/
Also comments where people received checks for much less than they expected/qualified.
The amounts of these “IFC” checks is a pittance of what they owe US(AMERICANS). It is disgusting what they are getting away with. Having the checks bounce is just 1 more FU from the money-men to ‘US’.
ROME ended this way too…”Power corrupts and absolute power corrupts absolutely”…
http://www.roman-colosseum.info/roman-empire/reason-why-the-roman-empire-fell.htm
WUA, Share these links w/ your readers…they clearly are clamoring for more info.
http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20120621b2.pdf
http://www.scribd.com/doc/134919040/Payment-Agreement