Claim Forms From California Mailed out To Foreclosed Homeowners
The State of California Department of Justice mailed out claim forms to 432,000 to homeowners who had their homes foreclosed between January 1, 2008 and December 31, 2011. The forms serve as a way for them to receive part of the $1.5 billion cash settlement, part of the broader settlement between the 49 state attorneys general and five mortgage servicers. The lenders involved are Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo each have paid into the fund.
It is important for the homeowners to fill out the forms so that they get their part of the $1.5 billion. If everyone in California files the result would be about $840 dollars. This settlement does not require the homeowner to prove anything accept that they were foreclosed on between those dates. Nor do the homeowners need to give up their right to sue the banks. The form is mailed to the homeowner. If you receive the form you do not need to prove anything you are presorted.
The forms will be mailed out on October 12, 2012 The caution for the homeowner is to be on the lookout for fraudulent scammers who might ask for personal information and or money to file for the settlement. The claim form does not require any personal information because that information is already on file. If you are contacted in any way please contact the Attorney General’s office and report them.
If you do not get a claim form and believe you a person that should be included please call the following phone number:
There is another program the Independent Foreclosure Review, created by the Federal Review, created by Comptroller of Currency. In this agreement with the Federal Government the federal banking regulatores 14 servicers, including the 5 above in the foreclosure settlement.
The maximum amount for wronged homeowners is $125,000. In this program there are some catches.
- Borrowers have to apply, and the deadline is Dec. 31, 2012.
- The claim form is six pages long.
- No guarantee of receiving any pay out. You must prove harm
To file with them go to: