More than 4.2 million borrowers eligible for payments under the settlement tied to the Independent Foreclosure Review have started getting notices in the mail, but they contain few details — and no checks yet.

Independent Foreclosure Review: 4.2M Borrowers Get Notices, But No Payments Yet

Independent Foreclosure Review: 4.2M Borrowers Get Notices, But No Payments Yet

Independent Foreclosure Review: 4.2M Borrowers Get Notices, But No Payments YetMore than 4.2 million borrowers eligible for payments under the settlement tied to the Independent Foreclosure Review have started getting notices in the mail, but they contain few details — and no checks yet.

The firm handling the notices and eventual payouts, Rust Consulting, sent cards out March 18, according to a brief statement from the Federal Reserve. The cards say that payments won’t be distributed for another month or two. They also say borrowers may have to fill out additional paperwork.

“For more information, please call 1-888-952-9105, which is the number for Rust Consulting — the Paying Agent — that is printed on each postcard,” the Fed states.

The Fed is also warning consumers to watch out for scams. “Beware of anyone who asks you to call a different phone number than the number above or to pay a fee to receive a payment under the agreement.”

The $9.3 billion agreement between regulators and 13 mortgage services settles improper foreclosure actions, ranging from shoddy paperwork to wrongful evictions, during 2009 and 2010. The deal ended the “Independent Foreclose Review” of files from the 13 servicers after 18 months at a cost of nearly $2 billion.

Fed Chairman Ben Bernanke said earlier this month in congressional testimony that the reviews had not made much progress. He also said that “we will have checks going out to borrowers in just a few weeks.”

Borrowers who have commented on eCreditDaily say the cards they received Thursday provided few details. There were expectations that the correspondence would contain more information based on previous statement from the Office of the Comptroller of the Currency (OCC).

“I got a card from Rust Consulting today saying that I was eligible for a payment but it didn’t state how much…  It also said that a check or paperwork asking for add’l information will be sent in 4-8 weeks,” one borrower said.

Another said: “I got my card today also with the same lack of information.”

But borrowers still don’t know the precise payment structure, except that compensation ranges from hundreds of dollars up to $125,000, based on the seriousness of the wrongdoing by the mortgage servicer. The settlement will pay out a total of $3.6 billion in cash payments and $5.7 billion in other assistance to borrowers, such as loan modifications and forgiveness of deficiency judgments.

“The federal bank regulators overseeing this process are currently working on the details as to how payments will be determined,” the settlement site’s FAQs section states.

According to the most recent OCC press release: “These borrowers are expected to be contacted by the Paying Agent—Rust Consulting, Inc.—by the end of March 2013 with payment details. The Paying Agent will send payments and correspondence.”

Regulators are working on a distribution plan for more than $3.3 billion in a settlement fund earmarked for eligible borrowers, according to Feb. 28 consent orders.

The Independent Foreclosure Review process continues for borrowers with mortgage loans from the following servicers: EverBank/EverHome Mortgage Company, Financial Freedom (OneWest), GMAC Mortgage, and IndyMac Mortgage Services (OneWest).

The following lenders are funding the payouts: Bank of America, Wells Fargo, JPMorgan Chase, Aurora, Citibank, Goldman Sachs, HSBC, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust and U.S. Bank.



  1. Our mortgage was with GMAC; as of now it is serviced by Ocwen since GMAC/Ally is going through bankruptcy they have moved all servicing to other companies. So what about our IFR that was supposedly still under review? How does someone with the 3 entities who are NOT in the settlement, find out what the heck is going on and when it will be completed?

    When asked, the Ocwen people have no clue. It’s as though your IFR has just dropped off the face of the earth and there’s no one contacting you.

    Anyone else with one of the 3 non-settlement banks? Have you heard anything?


  2. We got our letter today (Friday the 22nd). It said we qualify for payment and they will be contacting us within the next 8 weeks either for disbursement or more information. that is NOT what I was told 2 weeks ago when I called them. Their “canned” reply to me then was that by the end of March we would receive a postcard noting our distribution amount or requesting more information. SO…guess this will drag out for another 2 years! Government is involved so we may never have a resolution! I would suggest that they get busy NOW with the cleaning up of our credit reports!! That would cost them a minimum wage person doing a mail merged form letter to all credit reporting agencies. HECK! I’ll do it for free if they send me the ink, postage paid envelopes, paper and list of names of every person that has a hit on their credit 😉

  3. I received my card as well. Why is the government so wasteful. The postage, wages they used to send out 4.2 pieces of wasteless information is just unbelievable. Then after they have wasted all the monies from this fund doing stupid things like sending out a postcard to tell us we are going to get money, they will tell us sorry, no more funds. I just can not believe these people. This president and his administrator never fails to show just how incompetent they are. They have had a whole year to work out the details of this. From the onset the catagories should have been establish, because that has never changed. So they are wasting more time and money like they always do.

  4. I just spoke with a Rust Consulting representative (888-952-9105) after receiving the infamous postcard. He verified my household was in the payout system, but could not verify how much or how many banking/foreclosure actions are imposed on our behalf. I can count three.

    When this is all said and done….how do we object to the random criteria these payments are being formulated and disbursed? And to whom? The intake coordinator at Chase who yelled at me and said I couldn’t live in my home for forever?? Made me physically ill.

    CASE: Single mom, reared 2 exceptional daughters for 17 years in this home. After 4 botched loan modifications and 4 foreclosures post-phoned, which ultimately forced us into short-sale, my credit has been seriously affected by the mishandling of my loan modifications. I am showing my home to vultures who are attempting to purchase for 35% of the market value. Guess I’ll decline the offers and await a reasonable offer or worst case, the REAL foreclosure on 4/17/13. At least Chase will come closer to the market value at foreclosure & my loan deficiency will hopefully be reduced.

    Additionally, it is impossible to obtain fair employment with my credit score or reasonable auto insurance due to the damage Chase has evoked upon us.

    You know…I’m almost relieved. This has been the longest, most stressful period in my entire life. I’m at the point of surrender; to put it in the past and gain back my strength and health.

    Still, I hope those who lost their homes in the specified window, receive a large chunk of compensation!!! And can begin to put the heart ache in proper perspective. Blessings!

  5. I received my postcard today, nothing new but above my address on envelope there is a sries of numbers and letters I wonder if all have same numbers or is it an individual # that has coded info?

    Any thoughts?

  6. I did not receive my post card in the mail yet, but from what I am hearing this is just another way to postpone payouts. This is so wrong in so many ways!!! I wish the media would actually cover stuff like this instead of the stupid breakup murder trial and other nonsense!

  7. I had a Deed in Lieu, not Foreclosure, and it was in 2007, not 2009 or 2010, and I got the card today. I am not sure of what wrongdoing either.

    Any clues about this?

  8. I have been following the progress of the IFR
    For 2 years I find it very ironic that the regulators
    Haven’t set up the updated remidiation ,what
    They call the 11 categories that the homeowners
    Follow under,but there sending out 4.2 million
    Postcards. We all need to contact our congress
    Person to ask some hard questions.before
    We get steamrolled again.

  9. Just curious. I got my card in the mail today 3/22/13. Stating that I was eligible to receive payment from Wells Fargo via the agreement that was reached. Is the money being put into one pot, or are we being paid from what Wells Fargo contributed to the settlement? The numbers on the front of the card probably mean something but I have not been able to figure it out.

  10. Once all of this is said and done and they pay out hopefully. I wonder what’s going to happen with our credit scores any suggestions on how we can start getting that back on track

  11. I also received the postcard. My house was foreclosed on after 15 years. I paid a lawyer a lot of money to try and fight it and still lost. We are now renting and rent is more than my house payment was. My six year old daughter keeps asking me when we are going back to our old home. It’s very heartbreaking. I’ll be one of the people who only gets a couple of hundred dollars compensation. The whole ordeal was and still is extremely stressful. I guess we won’t know anything until it happens. Good luck to everyone else in this situation. Prayers to you all!!!

  12. Look people. It’s simple. The Fed and the banks (which ARE the Fed, by the way for those not up to date on these things) are stalling and stalling until they get enough votes in Congress or a new president to repeal the entire thing. Most of the mortgages were packaged up and sold world wide as credit default swaps and NO ONE REALLY KNOWS who ACTUALLY owns WHAT. The bank or servicer that is on the hook for paying each of us can’t even track down the actual DEED in hundreds of thousands of instances. That is why this is delayed. If they can elect a few more cronies within the next year or two, they plan to wash this all under the rug.

    We went through a two year painful process with our banks. It was over three years ago. We since changed our lives, moved on with new goals and purpose and choose to put this all behind us. I see so much lamenting online from people that are victims of terrible consequences like we were. But the sooner you move on, the sooner you’re not a victim.

    We’re not counting on one cotton picking dime.

    And none of you should either. Move on.

    And vote ALL of them OUT. ESPECIALLY any SENATORS that are STILL holding office from the Dakotas, Connecticut, Delaware, New York, and New Jersey that were part of the swindle from 2002 – 2010. That’s where your power lies.

  13. I got two postcards today…one for each of my homes. Guess I will call them on Monday.

    To answer the question about the numbers above your name and address…my numbers and letters are different.

    The way I look at it…I still have my homes, and if I receive any free money that I don’t have now…well that’s a gift! Considering my lender took me to court over paperwork their lawyer filed and forgot to close out. The judge shook his head and let us go on our way. My mortgage company has no clue as to what’s going on with their own lawyers!

  14. I agree with Mary ,what a waste of money to send out post cards.There is enough money so why not send everybody who has went through this hellish nightmare 125,000 dollars.NOTHING has been fair so far I don’t expect this to be any different I can only hope for the best outcome because hope is all I have not just for myself but for everyone involved.

  15. Payments to borrowers who lost their homes to foreclosure
    Update: February 19, 2013

    Approximately $1.5 billion of the funds recovered in the national settlement are being used to compensate borrowers who lost their home to foreclosure during the period of January 1, 2008, to December 31, 2011. Claim forms were mailed to eligible borrowers in late September/early October of 2012 and subsequent reminder notices were mailed. The deadline to submit a claim form has now passed. If you have submitted a claim form, the Settlement Administrator will contact you if any additional information is needed to complete your claim.

    Checks to borrowers who submitted claim forms are expected to be mailed mid-year in 2013. The exact amount of the payment to be made to each eligible claimant is not yet known but it will exceed the minimum payment of $840 that was indicated on the claim form.


    Federal Government & Attorneys General reach landmark settlement with major banks

    Roughly $25 billion in relief for distressed borrowers, states and federal government…

    In February 2012, 49 state attorneys general and the federal government announced a historic joint state-federal settlement with the country’s five largest mortgage servicers:
    •Bank of America
    •JPMorgan Chase
    •Wells Fargo

    The settlement provides as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal government. It’s the largest multistate settlement since the Tobacco Settlement in 1998.

    The agreement settles state and federal investigations finding that the country’s five largest mortgage servicers routinely signed foreclosure related documents outside the presence of a notary public and without really knowing whether the facts they contained were correct. Both of these practices violate the law. The settlement provides benefits to borrowers whose loans are owned by the settling banks as well as to many of the borrowers whose loans they service.
    •About the Settlement: Learn about the settlement, who is affected and what claims may still be pursued against the banks. Find links to your state Attorney General’s Office to find state-specific information and contacts.
    •Help for Borrowers: Learn how to find out if your loan is affected by this settlement, the timeline for relief, how you will know if you are eligible. Find links to your state Attorney General’s Office to find state-specific information and contacts.
    •News: Read the national news release and find links to your state Attorney General’s Web site for state-specific news.

  16. I also received my card today. It was supposed to tell us how much and when we would get a check. Instead, it says we’re eligible for payment. This info we already knew. Sending cards was a waste of time and our money. It seems that they (Rust Consulting) are going to prolong the process long enough until the funds get used up by their lawyers, consultants, and “administrative costs” and whatever is left gets divided up for us. You can bet RUST is getting a hefty sum of that fund money. As usual the consumer will get the short end of the stick!!!

  17. I think they believe that the average American person and voter are totally distracted by iphones, ipads, facebook, farmville, kids with packed schedules, manipulated fears, that we will just grab anything we get. We really should all contact our congress people and senators and let them know that this is disgraceful. They also think that we are just as clueless as they are. We will most probably get another postcard telling us at four weeks that within another four weeks we have been waiting for for four weeks. I am beginning to think that this is just another sham by this administration. It was instituted by the justice department and can be enforced by the justice department. Please don’t think it is the congress holding them up because they are Republicans who hate Obama and want to make him look bad. His direct appointee Eric Holder insituted this, had nothing to do with Congress.

  18. I don’t understand what two programs there are, and when is the one that David is talking about will come into affect.

  19. I too received my postcard today, and I knew that I would be receiving one. I filled out the packet too, last year, and sent it in by the 1st deadline. I am not confident that anyone will receive anything near what we should be receiving, or that we will get the money in 4 to 8 weeks. It is a stalling tactic that apparently Rust Consulting is very good at. Google their name and see the scam notices for their organization. My home was in the process of a short sale, and Countrywide was well aware of it, when it was sold in a sheriff’s sale right after BoA bought Countrywide. I didn’t receive a notice, all I received was a letter two weeks prior to the sheriff’s sale listing my options, one of which was the short sale, which was already in progress. Two weeks later, I lost my home, but I didn’t know it for 6 more weeks after the buyer backed out, and the realtor called me to tell me that I didn’t own the home any longer. It was sold by MERS for $1 in the sheriff’s sale. I am just sick over this, and have struggled ever since to get my life back on track. It has been over 5 years, and I have been renting ever since. I want to go after these crooks that took my family’s home away, and did nothing to help us stay in our home. Maybe we shouldn’t feel like the victims here, but there should be some restitution for our misery. All 4.2 million of us should file a class action lawsuit and go after these criminals, and demand a minimum of 125,000K each. Don’t forget, these banks not only have the money, they are getting BILLIONS of dollars in subsidies from the federal government, and have been all through this banking crisis. This paltry amount that they have ponied up for this settlement is a drop in the bucket for them, chump change. Furthermore, they will get to claim this money as a LOSS, and will be able to get further tax breaks next year. The banks WON, again, and we LOST. When are we going to get mad as hell and not take it any more?? We have been beaten down so long by the system that we think we deserve to be treated like this, but we don’t. Time to fight.

  20. @carletta: The program David is referring to is the National Mortgage Settlement which is separate from the Independen tForeclosure Review. The NMS is scheduled to send payments out around mid-year 2013. If you were part of this program you would have received notification from your States AG(assuming your state was part of the settlement). Go here for more info: Many borrowers may fall under both programs

  21. As always ” to big to fail” wins again.
    Look at payout what a joke.

    1. ranges from hundreds of dollars up to $125,000,
    2.The settlement will pay out a total of $3.6 billion in cash payments
    3.More than 4.2 million borrowers eligible for payments

    (simple math if all get payment 857. each)

    So how can some get 125,000. settlement?
    The funds are not there, settlement missing few zero’s.

  22. Wow, Ken, you are absolutely right…$857.12 per person. Is this minus the $1,848,000 in postage for the cards ( if @$0.44 per card)?

  23. First there is nothing saying that they are dividing the money up evenly, I was told before the settlement that they had reviewed my case and I was in tier A which they explained was the top tier my house was sold so that would mean that I would have received 125,000 however I believe that thy will npt follow the recommendations of any foreclosure review that was completed and I will be lumped in with whatever category they (the banks) decide. I owned my house for 12 years only borrowed 89000, my husband and I lost our jobs andstruggled to keep up with the payments we then paid a big lump sum to the mortgage company (more than 25,000) and still struggled to make the payments when the government annonced the HAMP mod we thought we were saved however they never received paperwork, never sent us paperwork, etc. same story that I have read over and over. Finally filed bk to try to save our home, we still tried to work with them and got different answers every time, I called them nearly everyday, when they finally sold our house they sent us nothing we had no idea, the bank told me on the day they were selling it we went to the court house and sure enough they sold it (returned it to the bank) One other thing they forclosed in my husands name, he was not even on the mortgage, I bought the house before we were married and they forclosed for 147,000 I am not sure how this is even possible but we were forced to leave our home. I hope everyone gets something that will help us all out of this mess that we are in, I know I feel we all deserve it!

  24. Family…I concur with all of you !!!! Every since the settlement agreements…the banks have poured monies into the fund & they’re getting it right back paying off 1st & 2nd liens for the current borrowers !!!! The banks has not been punished at all !!! Instead for those of us who has lost our properties wrongly..OCC is making us wait & why??? The foreclosed victims should have been paid last year or the first of this year !!!!!! The $26 Billion should have been total payout to FORECLOSED VICTIMS under the National Mortgage Settlement & the $9.3 Billion dollars under the Independent Foreclosure Review should have been set up to help loan modifications, short sales, and lien pay-offs !!! The banks don’t need extra money to pay-off liens…just STROKE your PENS and forgive the indebtness !!!! All the monies wasted in the settlement could have provided the foreclosed victims at least $50,000 to $150,000 each !!!!!!! Or at least provide a new home & $30,000 to get on your feet….there are ways to help us….stop WASTING the SETTLEMENT monies !!!!!!!!!!!!!!!!!!!!! I lost my entire life through my FORECLOSURE !!!!!! I was all over the news, newspapers, community gossip, & I lost my job behind it !!!!! I had a paid in full home- used my deed as collateral for a $50,000.00 Credit line & I lost my home behind a Credit line that I had for 5 years….I still can’t believe this happened to me !!!! I paid a $127,000 mortgage – 10 year mortgage with BB&T in full and 4 years later I went to Wells fargo for a line of Credit & I lost my HOME !!!!!!!!!??????????? How insane is this ???? But it happened !!!! As I type & cry…I am so utterly upset ….settlement you owe me & others deeply for OUR PAIN. I can’t borrow money to start my business again- at least I pray the settlement will provide me substantially -$125,000.00 to so I can rebuild & having working/start-up capital. Thank you

  25. As SJ (above) stated–a stall technique incredibly well played. Do not expect any payment…ever. Past history indicates that this review was merely a play to buy time for the banks. They made incredible amounts from tax breaks and sales proceeds–they never took a loss from foreclosing. You, like me, lost your home and your life without ever knowing who owned the deed and maybe, like me, were told that the lender wasn’t participating in the inept HAMP program (whatever that meant). Because you were out of work and had spent all the cash you had to make mortgage payments you couldn’t hire a lawyer to present your rights (not that it would have mattered since most lawyers didn’t understand what had happened to the mortgage note). All in all a total waste of time for the last several years…somewhat similar to what those who fought Union confiscation of confederate land and sought reimbursement.

  26. I am with you guys!!!! I paid a reduced amount to CitiMortgage for two years and they told me the amount I was paying was going into an account and that each time enough money was in this account to amount to a house payment I was behind then that payment was paid!!! Bologna!!!!!! After I filled out five + modification packets all told to be faxed or sent to different addresses and different fax numbers and two years of bull crap payments my modification was denied!!! Imagine that?!!!! Pretty sure this was the plan all along. I lost my job, my credit my home my self esteem and a lil sanity from talking to these money hungry vultures. There is a cold place in hell for the people who did this and knowingly took advantage of all of us and our situations!!!! Kicking us while we were down and to say that 800$ and some change could ease our pain and that is if 100% of people applied. That won’t event make up two of the payments they stole and applied to nothing. much less the job and income I lost and the mental anguish of being judged and talked about amongst neighbors and peers. Not to say the creditors when I went to buy a car and how they looked and me and judged me. This was a life changing event for me as it was for all of us. Future employers who run your credit also will continue to judge us!!!! I have tried to start my life over and I fell like its a dirty lil secret that skeleton in my closet that just when I think it’s dead it comes alive again to bring me down all over again. All I can say is a day of judgment will come and well all I can say is hope you can stand the heat!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  27. I received my postcard today. From working for different firms like Rust, they often will send out a mailer such as this one to see how many come back as “returned mail”. The post office will not forward presorted first class mail without a fee, so they return them back to sender. I think the 4-8 weeks thing is just a buffer time so Rust can get a better picture of who’s address is current before sending any type of payment, regardless of the amount, remember only about 415,000 of us actually sent in and applied for a review, cared enough to seek a result and thus our addresses are already up to date. After the ‘agreement to settle’ was reached and ‘they’ decided to just pay everyone regardless if you sent in your review or not, this mailing is a cheap way of Rust/OCC/and Feds to get an idea of who is current with their address. Furthermore if anyone would like to share, my postcard has a “B” on it then the bar code with 10 digits then 4 letters under it. Does anyone else have a letter besides “B”? thank you in advance.

  28. … more thing as food for thought, How can the Office of the Comptroller of the Currency and the Federal Reserve Board possibly figure out what “category” borrowers are in who did not fill out a review form. Thats around 3.7million borrowers that they will have to guess on. If they give them the minimum of $250 each, that would leave us with $2.675 billion to split among those who actually filled out forms

  29. Martin J, I agree, I can remember speaking to someone who had their home foreclosed on and was eligible, but her reply was “no, I didn’t fill out the paperwork, because I figured we wouldn’t get anything anyway”. I live in TN and based on the data I’ve seen of the 64,000 mailings that were sent out only 4,000 people responded to the mailings. The odds look good to me if they would give the minimum amount of $250 to the people that didn’t respond to the mailings and compensate those accordingly, that felt the issue was important enough to fill out the form. And although they say the reviewing of the files is closed, they still have information about the individual cases because when I called Rust Consulting to update my information, they asked me if I had the reference number listed on the letter I had received and they also had a record of the PO Box number I initially gave them when I filled out the form and mailed it to them 2 years ago. So they have the information, what will they do with it is the question!

  30. Martin J,
    Mine has an H then the barcode, but I think it is for my lender HSBC.
    I think the theory you have is a good one about the return postcards, and honestly I wouldn’t have known about the settlement and everything else if I had not read it online. The last contact we had from the IFR was a letter dated 9/12 saying our file was accepted for review but the results could take several months.

  31. I think the letters on the postcard may be related to your mortgager mine was citimortgage and I have a C also the number directly under the bar code is the reference code that is on all of the letters that were recieved from the independent forclosure review. I called the number today and they are not giving any extra money for those of us that filed the forms as they requested in the beginning we wil all be lumpe into the groups thatthe crooked banks choose to put us in! I think that we should find an attorney and file a class action lawsuit against not only the banks but the OCC and the federal reserve that sold us out. If anyone wants to look at filing a lawsuit I set up an email for contacts it is moc.oohaynull@weivererusolcrof

  32. @Lisa, @Shannon, yes I think the letter on the postcard is for your mortgage company, The ‘B” on mine must be for Bank of America and the digits under the bar code is the same for all my paperwork, thank you very much. @Shannon I am glad you shared that you called them about payment for those who filled out the paperwork. I cant believe people are actually going to get money that did not ask for it, which in most cases would be great, but it affects the rest of us who took this seriously. I still can imagine how they can “estimate” harm for someone never proclaiming to be hurt. Its like sitting in the waiting room at a hospital and letting the doctor/nurses guess whats wrong with you, then suggest a treatment! [what if you were just visiting….]

  33. Just spoke with a representative from Rust Consulting, Inc. and she could not tell me anymore than what was on the infamous postcard we all received. I’ll be honest folks, I am not looking for a big payoff of any sort. Somehow I think we are all going to get screwed again. Our stories are so very similar and disgusting. This is going to drag on and on. I sure wish that there was some way we could all find out what our payouts will be (if any).

  34. I did not know about the IFR until Friday when I received a postcard in the mail, prior to that, I heard nor received anything. So it is not necessarily about people not caring, the point is that some people may not have received the mailing and two, the mailing looked like “junk mail” so it may have been thrown out.

    The people at Rust are just a bunch of folks reading off scripts. I called and they knew nothing about The “Waterfall” categories, we will see what happens. My concern is that I want to keep my house, it looks like these banks are pushing for short-sales and not helping people keep their homes.

  35. The new streamlined 11 categories are a joke. Under the old categories I would have fallen under modification applied for but not processed that would have been approved. Since I had to sell the house that had been in my family for 84 years. The bank got all their money and I walked away with a little but I never would have sold it if they hadn’t foreclosed. Under the old guidelines I would have been entitled to $15,000 plus the equity. Under the new 11 categories I will fall under modification request not acted on which tells me I will get chump change. Does anyone have any other interpretation for me? BOA jerked me around for months and months saying that my modification was assigned but would never let me speak to the person and then it was too late. I ended up selling for $100,000 less than what the minimum it would have brought because I was out of time. I know that I still made out better than a lot of other people but I ended up severely depressed and had to seek professional help.

  36. Back to the numbers on the postcards. I understand that the numbers directly under the barcode is your reference number, BUT, what about the alphanumeric characters directly above your name and address?

  37. This is the link to the remediation structure as it stands. Although it has been indicated that the OCC is in the process of re-evaluating the current framework, and will be changing the payment amounts:

    The only people, under the current framework, anticipated to receive a $125,000 settlement are those in the armed forces that were foreclosed on in violation of the Servicemembers Civil Relief Act (SCRA).

    Based on the current remediation structure, we only anticipate receiving about $2000 for all of the stress that Chase had put us through; and don’t even qualify for credit report correction.

  38. I completed the review request and Rust Inc. says I’m eligible for a payment. I have already moved from the property and have updated my new address twice. I talked to Rust Inc this week and they informed me that the card was mailed to my ex spouse at his address! They couldn’t tell me if they would issue two seperate checks and my ex spouse will for sure cash a check even if my name is included! Does anyone know the answer to this or where I can find out?

  39. I must admit it , It sounds to good to be true and probably is. I dont expect anything for being laid off after 20 years with company , I found work with in six weeks , when we were at foreclosure and received a modification and made a payment , then recieved info that the modification was null and void because they did not have a record of paperwork I mailed back to them , In January of 2011 I finally received a modification but it had 15000.00 extra rolled into it and also a lower interest and back to 30 years 5000.00 was fees from the mortgage company added in, figure out the math and it is 5 years to pay off the fees at 100.00 a month that goes to principal , I realize how lucky I am to have been a lucky one to not be foreclosed on and lose my home , for all of you that lost your home my heart goes out to you, I remember one night talking to my wife and we thought foreclosyre eas the only way to go and as she was crying the only thing she asked for was to take our sons swing before a foreclosure happens and for him to be able to keep it at Granmas house, This made me sick to my stomach over all the time and yes sweat I spent on phone calls and paper work and the three years that I answered the phone calls and called the mortgage company every day for 18 months straight , thats right 5 days a week , and I was never ever told we can help you out with this , hud counselor finally was able to help, we are still in home , but I will never forget or forgive the mortgage co. bank for how long it took them to solve the mess , I never gave up hope , they can take a house but do not let them take the faith, I hope we all end up with a check that as we open it no matter how much it is we can say to ourselfs finally , we were right and strong and we won , I urge you all to write letters to your mortgage company explaining in detail the consequences this has had on you, there has to be someone wuth a heart working at one of these 4 letter worded banks, hope for the best but prepare for the worst…….

  40. Cr7, you are correct! Why would taxpaying citizens take a few moments to collectively ponder a foreclosure settlement they are invested in? Why would adults in common situation try to rationalize possible outcomes of what has become an unknown, wait a minute, never mind. The C in your name must be for Citibank, Chase, or maybe Countrywide dba Bank of America. Um, I thought this forum was for consumers/borrowers, aren’t you guys getting a good deal out of this? Why do you have time to blog?

  41. @SM & @Martin J //// Well I hope I am understanding this correctly. There are 2 reviews that are being discussed. One called the National Mortgage Settlement that I filled out in October when it was sent to me. These funds are going to come from the state. And another that is the Independent Foreclosure Review from which I have recieved this postcard. So there are 2 reviews basically for the same thing or pool of things (mortgage settlement).

    1) I contact Rust Consulting (Independent Foreclosure Review)?

    the other

    2) I contact my state attorny general (National Mortgage Settlement)?

    I sur ehope it turns out good that I filled out the form and sent it in within a week of recieving it back in October.

  42. The government should give priority of payout of $125k to those homeowners who home were completely foreclosed and they are no longer living there. why bother to give some to those who have loan modified. They got and living in their home. have pity on those home that wer foreclosed in 2009-2010-2011. Please have priority to them nothing else.

    Those people who responded evey by mail or online should be given priority.

  43. @qrwanda, they are two seperate settlements. The National Mortgage Settlement is strictly for borrowers whose home were foreclosed on during a set time frame and by the Banks listed on their site. The Independent Foreclosure Review (which is now a settlement) was borrowers whose homes went to foreclosure between in 2009 or 2010, also serviced by the Banks at their website. So it is possible for a borrower to be in both settlements.

  44. Hey CR7 I hope that you never have to deal with a situation where a bank gives an 86 year old woman (my mother) a $360,000 mortgage that she couldn’t possibly qualify for and charge her $12,000 to buy down the interest rate to one that was still 3/4% higher than an existing mortgage that was 1/3 that amount. Oh by the way she was legally blind, was diagnosed with the beginning stages of dementia, did this without consulting a lawyer or letting any family member know about it. She was trying to get $10,000 to help someone out and ended up with this albatross that she couldn’t afford. She died 15 months after she got this mortgage and it may have been the best given her worsening condition, and the fact that wonderful BOA foreclosed on the house that had been in our family for 84 years. All the paperwork for a modification was submitted and supposedly assigned to someone who we never heard from in 6 months despite calling BOA almost daily. It was always we need this send it to some other dept ect ect. All the time the foreclosure went forward. Finally afraid that we would end up with nothing we sold the house for much less than it was worth. We still got enough to pay off the mortgage which BOA knew all along. We were never contacted for the National Mortgage Settlement even though the house was foreclosed on in 2009. Do you really think that whatever jump change comes to us makes up for this? Under the new categories this looks like it will fall under the modification request not acted on which is almost at the bottom of the categories and probably means a few hundred dollars. Do you have any smart remarks for t5his?

  45. 875 dollars is insulting my home was foreclosed on in 2010 I fought for two and a half years to save my home and have spent thousands to save it ,not to mention the lost hours of work .I have sent complaints to who ever I could only to have them fall on deaf ears after sending an email to the white house I finally got help up until then chase told me that I did not qualify for any help.I saved my home but have to pay back 18,000 dollars in foreclosure fees and also 15,000 dollars in late fees and non payment only because EMC at the time refused payment.Oh yeah lets not forget the 30,000 dollar balloon payment I will have to pay in 15 years the reason for the balloon payment CHASE tells me that’s the only way they could modify the loan.It almost sickens me to pay my mortgage knowing they have screwed me again ,and with a 10% interest rate. I asked chase why they couldn’t lower the rate and was told the reason was because of my credit ,credit EMC / CHASE screwed up.I’m very upset that settlement’s are being made on our behalf for amounts that could never cover the damages these banks have caused everyone involved .The only people getting paid are the people holding the money and that’s a fact!These banks have ruined peoples credit and have stolen homes .Now when they try to rebuild their lives and maybe buy a new home or car these lenders will do so at a higher interest rate ,and before you know it they will have made back any money they paid into this settlement.Its all a big scam. Just like the HAMP program that was suppose to help people,but didn’t it only made their situation worse. The truth will never be told, and we will never be compensated honestly.AMERICAS broken, it’s full of nothing but liars, thieve’s,and greedy pigs they know who they are .

  46. This infuriates me! The OCC and FRB said payment DETAILS would be sent by the end of March!
    A postcard that simply says you maybe eligible is NOT PAYMENT DETAILS. Are these people all elementary school drop outs? Do they know the difference between disinformation and NO INFORMATION??????

    I got my postcard too….its a stall tactic so that after a year they still can hold the money and not pay it out because they fear a moral hazrad. Well QUIT freakin giving the banks interest free loans, you never feared that moral hazard???!!!!

    LAME and FRAUD! That’s all this government is lame. It was a huge waste of taxpayer money and time for the OCC and FRB to put so much into promising something they never intended to implement. The only people who benefited were the same lacky consultants who got $2b to do NOTHING, but these were the same firms assuring Wall Street and Congress that the banks were okay BEFORE the crash.

    Just another case of screwing the little guy by dangling a carrot over them, while the fat cats line each other’s pockets.

    I am so over their lies!

  47. @J Smith, I read a report that said the $2 billion spent on “consultants” = $20,000 per file that was actually reviewed before it all came to a settlement…..I dont know about everyone but $20,000 not to have my file reviewed would go a LONG way in my family. They have just wasted so much money and so much time, with no end in sight.

  48. @ Martin J, I couldn’t agree with you more! You nailed it! $20,000 would definitely go a long way for our families. This whole thing STINKS to hog heaven. The poor get “poorer” and the rich get “richer”!

  49. We filed a Chapter 13 Bankruptcy and the mortgage was included in the monthly trustee payments, paid for 6 months and then US Bank requested a relief notice to the trustee so that they could foreclose on our home. The trustee approve the foreclosue??? Myself and my attorney fought this twice. Overall we wrer foreclosed on, had to move and our house was sold at the courthouse steps to the highest bidder. I ended up losing my job and filed a chapter 7 so I didn’t have to pay any areerar. What Category would I fall in?

    Waldo Faldo Haroldo

  50. @Waldo Faldo, thats the confusing part. They mysteriously stopped independently reviewing the files in January, never shared which files were reviewed, so not only do us consumers/borrowers not know what category we fall in, I have know idea how the banks will categorize our files, fairly. Plus they have to put a category on foreclosures that didnt ask for a review (prob thru no faught of their own), the gov let the crooks pick their own sentence,privately!The only optimism from this whole thing is that they did stop the process, which would have took us thru til next year and they are at LEAST giving everyone a payment—-impossible to guess but by most accounts I have read, somewhere between $250-$4000, except for military who should own at least a portion of the banks themselves!

  51. I never got any form. My loan was with Goldman Sachs. They and one other bank did not get in on the Independent Review until it was stopped and changed to a settlement. The banks then threw in their money and the settlement went from 3.6 Bil to 4.2 Bil. They added 220,000 homeowners. I gathered this information from the various websites and press releases. I called Rust and they confirmed the info. but would not add any info that was not already available to the public. The first I heard of this was when I received the card from Rust. To me this little bit of money is a slap in the face because I lost my home of 17 yrs. My husband died after we borrowed against his life ins to start our own business. He got Leukemia and was gone in two years. I lost the bus. too. I desperately needed a loan mod reducing principle. I got the run around. My loan was sold during this mess and foreclosure was filed before the assignment was recorded. My lawyer tried to dimiss for lack of standing but court ruled in favor of plaintiff. I had no money to continue fighting. Everyone has a story. I have compassion for everyone who had to deal with these indifferent mongrels.


  53. Back in 09 me and my husband bought are first (any only house) my husband ended up getting very ill and could no longer work do to his illness.So i had to work as much as I could and take care of my children and also sick husband.We was unable to make full morgage payments so we called are morgage company and was asking if we was able to make some kind of payment arrangments . Are morgage company would not work with us what so ever they wantef there full payment so being said they told us we had 20 days to get are belongs and move out that are house was going to be forclosed and if we still had anything there when the sherif got there they would put a lock on the doors and what ever was in there would stay. So we ended putting are house on the market to try and sell so that it wasnt on are credit well we had a buyer but they was offer a little under what the bank wanted so was trying to do a short sale .The bank would not let us it had had to be on the market for a period of time.So we had to do a deed in lou and give it back to the bank (and its on are credit ) So then the bank ended up selling the house for 10 thousand dollars made me so sick and they couldnt even help my family out and set some payments up but no the worst thing ever…………Hope somthing can be done to those greedy banks….

  54. I didn’t know a thing about the settlement until I received the infamous post card…I think RAMBO was correct about Morgan Stanley not sending out review paperwork…our story is a lot like others, but here’s the condensed version: Saxon(now Morgan Stanley) is who ended up with our mortgage as of 2007. My husband lost his job and fought for three months to get his unemployment. I was working full-time, but we ended up filing for bankruptcy. We stayed current on our mortgage throughout all of this just fine. Fast-forward to 2008: I was pregnant with our second child and wasn’t able to work as much, and hubby still hadn’t found any permanent work. I sent a letter to Saxon explaining our situation and asking for anything they could do to help. The day we brought our daughter home from the hospital, there was a letter from Saxon saying they were sorry but had no options available to help us. We contacted a local company to help us with a short sale. They had buyers lined up 2 different times, but Saxon would never send the pay-off paperwork so they fell through and we lost our home. I have to say we had honestly put all that behind us, but all came flooding back when the post card came…still feeling a little spellchecker at this point!!

  55. My story…my husband and father of our three kids died unexpectedly in 2007. For two years I continued to make full payments on our house even though my survivor benefits and income teaching added up to one third of what my husband made as a mechanic at Boeing.

    In 2009, with my savings depleted, I applied for and was accepted into a trial loan modification that should have become permanent after three months. Eight months later I was still making my modified payments but Chase did not permanently modify. Every week it was a ddiferent story. One week I was in the final stages of underwriting and the next week I had been turned down for the HAMP but I was still being considered for an in-house modification. At the same time, Chase stepped up foreclosure and eventually I gave up and signed a deed in lei and moved out of the house. Four months after my kids and I moved out of the house the bank still had not taken possession. They denied receiving the deed in lei and so I signed a second one.

    Then in August of 2010, a third level sex offender (rape of a five year old) squated in our house. He was caught and spent fifteen months in prison for burglary…ripping the fridge out and breaking the water line that flooded the crawl space…and more. One week after he was arrested a homeless man and wife were caugh

  56. Homeless man and wife found in the green house rummaging through garbage left by sex offender. I only wish I was making this up.

    End of story, we moved back into the house. I called Chase to tell them we would be there until they told us what they were going to do. Four days later I received permanent modified loan paperwork. $32,000 additional principal, fifty years, and a balloon payment for the original loan amount at the end of those fifty years.

    Chase Bank should burn in hell.

  57. Susan, Terra and all others, my heart goes out to you. Didn’t banks get the money to HELP those of us in trouble? Instead they helped themselves. They are probably doing this deal accross the board because borrowers then could not use the completed reviews against the banks in future lawsuits. I think though that these scraps they are handing out will for some just open old wounds and pour salt inside. Although it’s too late to get back all that I lost, I still will not give up & hope to see some happy stories here as well when the checks start going out.

  58. @ Levingstone I see u are being greedy like the banks why u want it all for homeowners like u u don’t have a clue what people went thur if they lost their home or not just be thankful for what u get and stop trying to knock other homeowner from what they have a right to.

  59. RAMBO you have a great attitude and it gives me hope. Wouldn’t that be something….and entity…the banks…tried to take it all and here we stand…some of us still on very shaky ground…but still standing none-the-less and still possessed with a lingering hope in mankind.

  60. Thanks Susan. You shld write for Hallmark! I’m literally down to my last $57 until my soc sec check comes and along comes this post card. A couple Hundred sounds really good to me right now. I fight to survive & for what I believe in, thus the family calls me Rambo. But they also call me dessert woman, so $15k would get me a nice dessert in Paris. Good luck to all. We should see this Forum really light up when the checks start arriving……good or bad. Someone here I read is making the pop corn?

  61. This is so sicken, we all should be sending letters to congress. We lost our lives when we lost our homes. I think we should at least get our homes back. My home was sold to Hud for $1.00 after the back took it, Then it was sold to a private real estate and now being rented our..I want my home back….because the money they are about to put out will not be worth the pain. After losing my job to illness and waiting for compensation, and going thru the process to save my home..getting a modification for what I could pay at the time, I was still put out of my home because GMAC would not take the modification. What money can they give me for that…they could not wait for me to get my money..I could have paid my home off…greedy bastard…there is a place waiting for them…..It’s call HELL and they will live here forever and their money will mean nothing. God Help Us….we deserve a whole lot more…good luck folks…God Bless you.

  62. I confirmed several times over the last year that I am on the list for forclosure review, and I did not get even a post card. I called last week and confirmed address etc., and got the same answer. I am so fed up with this system that I will not stop until things change. Had the banks stood before congress during the meltdown and did some real modifications like reducing principal etc., they would not be in this position today. Shame on Congress for allowing the banks to bully them. It’s time we become the bullies and bully them ALL out of office. I think this whole meltdown in the financial system has taken us all down. Jobs with less pay, no homes and no retirement savings…next is social security not being their for those in their low to mid 50’s who put a ton of money into it. WHAT A DISGRACE! i
    can go on and on, however, now that I have high bp from all the worries, I need to stop now.

  63. •By: By Les Christie / CNN News

    NEW YORK – The nation’s five largest banks have finally struck a deal with 49 states to settle charges of abusive and negligent foreclosure practices dating back to 2008.

    Under a deal announced Thursday, the banks will commit $26 billion to help underwater homeowners and compensate those who lost their homes due to improper foreclosure practices.

    The banks also agreed to change the way they handle and approve foreclosures.

    A group of state attorneys general claimed that banks lost important paperwork, cut corners and enlisted robo-signers to attest to facts they had no knowledge of on hundreds of documents a day.

    The settlement has been in the works for more than a year.

    What did the mortgage lenders and loan servicers agree to do? The banks and servicers have committed at least $17 billion to reduce principal for borrowers who 1) owe far more than their homes are worth 2) are behind on payments.

    The amount of principal reduction will average about $20,000 per borrower.

    Another $3 billion will go toward refinancing mortgages for borrowers who are current on their payments. This will enable them to take advantage of the historic low interest rates currently available.

    The banks will pay $5 billion directly to the states, the only hard money involved in the deal. Out of that fund will come payments of $1,500 to $2,000 to homeowners who lost their homes to foreclosure.

    Another $1 billion will be paid directly to the Federal Housing Administration.

    In addition, the banks agreed to eliminate robo-signing altogether and to use proper and legal procedures when putting homeowners through the foreclosure process. They also agreed to end servicer abuses, like harassing delinquent borrowers for payments, and to include principal reductions more often in their mortgage modifications programs.

    Is my mortgage lender taking part in this settlement? Bank of America, Wells Fargo, JPMorgan Chase, Citigroup and Ally Financial are taking part in the settlement.

    In addition, nine other unnamed loan servicers may join the settlement later, and that would bring its value to $30 billion.

    Loans owned or backed by Fannie Mae and Freddie Mac, however, are not part of the deal.

    The Federal Housing Finance Agency, which oversees the two government-sponsored mortgage giants, will not allow any balance reductions for loans insured by the companies under the settlement.

    I lost my home to foreclosure; how do I know if I qualify for payment? If you were foreclosed on in the calendar years 2008 through 2011, you may be be eligible for a payment of up to $2,000. People who think they may qualify should notify their bank.

    The exact amount of the payments will depend on how many people participate in this part of the settlement. They will share equally in a pool of $1.5 billion. The U.S. Department of Housing and Urban Development expects about 750,000 former homeowners to take part.

    If I take the money, what rights do I give up? Individual borrowers do not give up any right to sue.

    As part of this deal, state attorneys general gave up the right to sue the mortgage servicers for foreclosure abuses arising out of the robo-signing scandal. However, they reserve the right to sue if they uncover improper acts when the loans were originated or when they were securitized.

    When will the new rules and bank policies be put into place? Most of them have already become part of bank policies.

    When will homeowners get paid? HUD said the settlement will be put before a court for approval within two weeks. It is unknown how long it will then take for a court to rule.

    The relief for homeowners has to be completed within three years, but the state attorneys general and HUD want it to be front-loaded and completed within 12 months.

    Would I have to pay taxes on the principal reductions or the pay-outs? If the principal is reduced in 2012, it will not be subject to income tax.

    That’s because the Mortgage Debt Relief Act of 2007 allows taxpayers to exclude income from the discharge of debt on their principal residence. The act is scheduled to expire at the end of this year, however.

    So if the act is not extended and the principal reduction occurs in 2013, borrowers may be on the hook to pay taxes on the settlement amount.

    It’s not clear whether you would have to pay taxes on the $1,500 to $2,000 payout. The IRS declined to comment on the question.

    Will the settlement make it harder to get a mortgage? The new rules and regulations the banks have agreed to under the settlement should have little impact on future mortgage borrowing since most of practices are already in place, said Keith Gumbinger of HSH Associates, a mortgage information provider.

    The actual cost to the banks of the settlement should not discourage lending either.

    Only $5 billion of the $26 billion settlement will be a direct cost to the banks. The remainder will be the cost of modifying mortgages. Many of those modifications may be in the best interests of the banks to make, however, since the

    alternative may be foreclosure, which can cost banks more than modifications.

    For more information visit .

    Read more:

    I am so lost with all this information… anybody know what is going on and can you explain why those that have lost our homes may recieve 1-2,000 dollars but other will be help out… without us lossing our homes they would not be getting the help they / we needed.. I dont want to sound bitter but what the heck is going on and why is the state involved???? anyone with answers would be helpful… thank you

  64. It does not matter if you submitted for the IFR review or not you will be placed in one of the 11 Waterfall categories and be paid accordingly. The OCC actually provided the 11 Waterfall categories but did note that they weren’t finalized and did not know about the payments for each category as of the end of march.

    Everyone is now equal which screws over the people that filed for the review but I never even heard of the review until I got the postcard. I was forclosed on while in Bankruptcy 13 so I am in Waterfall 3. Honestly people who totally lost their homes will be paid well above the people that are in pending foreclosures, those people will have access to the remaining 5 billion for help.

    The scary part is the banks are placing consumers in the waterfall and then The OCC is approving the monetary part per bank. The OCC is also supposed to check the banks placement of the consumer in the waterfall to make sure it is correct. Welcome to the Housing Casino – Good Luck

  65. @Waldo Faldo. I did not hear about this IFR review until I received a letter in the mail this past December 2012. I was able to go online and submit the information needed because the deadline was 12/31/2012 and I guess they figured I wouldn’t have it mailed out on time. We had moved from our home March 26,2012 and I guess it took some time for them (IFR) to locate us. My home was sold at a short sale and the finalization on that was in May 2012. So, what you are saying is that EVERYONE is entitled to some sort of payment? Even those who did not submit for the review? Everyone is equal?

  66. I owed over $200k on my condo and Wells Fargo refused to modify my loan even though properties in my community were selling for less than $50k. Long story short, the bank sold my house for less than $50k and was evicted out of my condo. Where is the justice?

  67. Ms Peachy I understand what you are talking about… Same thing happen to us with Chase morg. owed over 130,000 and they sold for 40,000 during our 3 mo mod they were foreclosing on us even though our pymts were their be for they were due. I do have a question has anyone experinced that a bank pay off your deed (loan) where you owe nothing? Its shows paid off in the courts…. I dont know where we fall in this settlement but i hope we all come out better then where we are now. Good luck to us all!

  68. well i was searching the web found out that our house sold for under 20,000 my mistake… looking at the paper from all the mod. and foreclosure stuff.. and then looking at my credit report they paid off over 130,000 i am looking at this in black in white … on a business look it would of just been better for them to give us the mod instead of them forclosing on us.. wow I am so angery! I wish I would of not even looked at these papers and searched the web. sorry but i had to correct my earlier post…

  69. This whole process is confusing…If your house was foreclosed on, whats the point of getting a modification??? My daughter and I have been displaced since my foreclosure in 2010, I’d love nothing more than to have my house back, but since it was sold for way less than what I owed, I just don’t get it??? I realize accounts are different but some type of answers for a variety of situations would be helpful. I’m sure I’m not the only homeowner that lost my house and it was bought less than 3 months of the foreclosure and at an amount extremely less than the loan. I was told by several people that “there are so many programs out there”, sure their are?? I researched, called, and did all that I could to save my house…I am a single mother raising my girls and losing our house was just as difficult as when I had to bury both my mother and father within 13 months of each other!!! Someone please break things down a bit, thank you.

  70. I would like to know why people in the military got the $125,000 and everyone else got a whole lot less. Look at the grid on how much you will get……..most people are getting less than $500. But then again, why is anyone who didn’t make their payments getting anything? Why is it the banks fault that you couldn’t make your payments. Should they have worked with you to try to keep you in your house…yes. Were they obligated to… If you don’t make your payment on your car it gets repossessed. If you don’t pay your utility bills your electric, gas, water get shut off. Why should this be any different? Anyone who was in a modification agreement or can prove they tried to get a modification and who ended up getting screwed should be the people who get the larger share of the pot. Military shouldn’t get the larger share just because they are military. I personally found someone to rent a room in my house to help with the house payment so I wouldn’t go into foreclosure. Did I want a roommate….no. But I did what I needed to do to keep my house. I also dogged Bank of America like ticks on a dog to get my modification and believe me it was hard since I was never late with my payments. They wanted me to stop paying my payments in order to qualify and I refused. I kept after them until they modified my loan. Even with that I had to get a renter to help with the payments as I lost my really good paying job and now can’t get one for even half the salary. It all sucks.

  71. I personally feel that military members who lost their homes should get the largest amount possible. I am regularly sickened by the thought of mistreatment that low ranking personnel endure especially upon their return and if ill. I saw a picture the other day of lady liberty crying in shame that brought me to tears. It reminded me of the mistreatment that so many experience, daily. I lost my business, my car, my house (foreclosure-bankruptcy) and my health within a 12 month period. During this period, I talked to others who seemed to suffer even more than me.
    I got the post card from Rust Consulting and threw it away thinking it was a hoax. I’m so disgusted with all the corruption and greed. After learning of the suit, I called and found out that my name is in the database to receive a check. After all that’s happened, I feel numb. Imagine that, to be so beat up that you can’t even enjoy finally getting a little back. Don’t get me wrong, I deserve and will take anything that I get. It’s just so sad that I have lost the ability to feel hopeful about any measures of fairness. I, however, would happily send whatever I get back if it would help others who haven’t lost belief in the system.
    I called Rust today after hearing about bounced checks and was told that my check will be mailed on 4/26. The rep. had no other information. He couldn’t even tell me which category I would fit in. We’ll see. I won’t believe anything until I have a cashed check in my hand. I can only imagine how those who got checks last week felt when they were told that the checks were not good. They say the problem has been corrected. I hope so.
    Good luck to all of you. Wouldn’t it be nice for all who have suffered so much to get $125,000 checks? 🙂

  72. this is worst then it gets the banks have not only did us wrong by putting us in foreclosure.they have raped us with our eyes wide opened again by not giving u the fair amount of money that the pay scale said one should be paid.

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