Up to 4.2 million borrowers are expected to start receiving payments in April as part of a $3.3 billion settlement fund stemming from the so-called Independent Foreclosure Review, a spokesman for the Office of the Comptroller of the Currency told eCreditDaily.

Payouts Expected in April from ‘Foreclosure Review’ Fund, Regulator Says

Payouts Expected in April from ‘Foreclosure Review’ Fund, Regulator Says

Payouts Expected in Apirl from 'Foreclosure Review' Fund, Regulator Says

Updated 04.15.2013:
Up to nearly 4 million borrowers have started receiving payments as part of a $3.3 billion settlement fund stemming from the so-called Independent Foreclosure Review.

Read the latest:
»» Borrowers Mull ‘Class Action’ as Foreclosure Review Checks Arrive
»» Payout Disparity: Many Who Requested Reviews Getting Twice as Much
»» Lawmakers Seek Updates on Foreclosure Payouts, Other Assistance

»» Foreclosure Review Payouts: Most are in $500 to $6,000 Range

The compensation range is from hundreds of dollars to $125,000.

Regulators have published the payment amounts and number of people in each category.

Since the settlement’s announcement two months ago, regulators have only said that the payouts would range from “hundreds of dollars up to $125,000″ — the highest amount reserved for the most egregious cases of wrongful evictions.

Bryan Hubbard, Director, Public Affairs Operations for the Office of the Comptroller of the Currency (OCC), told eCreditDaily that the payout system would differ from one released last year that was tied at the time to the ongoing  foreclosure reviews.

The settlement fund is earmarked for borrowers who were victims of improper foreclosure actions in 2009 and 2010. Consent orders dated Feb. 28 required 10 major lenders, including Bank of America, JPMorgan Chase, Wells Fargo and Citibank, to provide the funds this month for regulators to begin dispersing within weeks.

The settlement announced in January totals $9.3 billion involving 13 mortgage servicers. Consumer advocates have criticized the deal because it essentially ended independent reviews of mishandled or improper foreclosures, including wrongful evictions. The depth of the wrongdoing or mistakes by most lenders may never come to light, they say.

The eligible IFR borrowers have been receiving postcards in the mail since last week from Rust Consulting, the settlement’s official paying agent. The cards inform borrowers that they are eligible and that they would receive payments or other information in four to eight weeks.

“Payments are expected to start in April,” Hubbard said. He also said that the “qualified settlement fund” has been funded.

 

 

382 Comments
  1. According to this article.. PAYMENTS will differ from last year framework? What does that mean? Are amounts too high because there is to many people to distribute the money too.. All this time.. we are directed to the “framework” of wrong doings.. Now that money has to go out – is that going to change? As I said it before.. I believe it when I see it.. Sounds like they want to give us hope , take it away and say at least your getting something… This will be interesting of how this all pans out… All of these people who lost their homes.. asked for loan modifications have been struggling for years.. for one reason or another.. job loss is the main factor in most responses…For the people who havent gone thru it .. just cant grasp the concept.. I have to be honest.. I didnt either untill I went thru it myself… When people in my neighborhood started foreclosing.. I have to admit.. I was mad-angry.. thinking our property values are going to go down… and then it struck us.. my husband’s work was slow and money wasnt coming in.. and then I understood . why and what we had to do.. and why other people had to do what they did.. What really is amazing is that.. all of the stories that are printed here are all the same… paperwork got lost or loan modification rejected or short sale rejected and gone to foreclosure.. HOW COULD IT BE.. all the same.. For a long time I felt it was just us that got screwed from the bank .. and to hear all of the stories that are so similar to ours .. its an obivoius problem with the system or the training of the employees at the mortgage company. We are anxious to see what they found in our loan file as many are.. I dont think they will really tell us.. its a matter of here is your money -sorry that our employees were unprofessional and hope you wont do a class action suit for more money. I am sure that the whole country will be watching when everyone will get their little payout.. I was hoping for our credit to be fixed but I dont see that happening.. GOOD LUCK TO ALL and hope your payout is going to help your situation..even if it is just a little.. we need to be grateful that the banks have acknowledged they have major issues that need to be addressed.

  2. I also read “different”, as LESS!! I’m not surprised, but seriously disappointed in this entire process…..

  3. I haven’t even received my postcard yet……probably won’t receive my check either!
    HUGE mound of BS!!!

  4. I too got my postcard last week – took me back to 2010 when I went through this….the sleepless night, the panic attacks, etc…8 months after the foreclosure I started sleeping at night- didn’t have a one panic attack – they won, I lost. Fast forward to last week – got the postcard and tried 2 different times to get a CSR at Rust to explain where I fit in the “framework” payout chart…I got the scripted response everyone else did….36 hours later panic attack so bad I had EMT’s at my door…those postcards should NEVER have been sent until Rust’s staff had the SPECIFICS for those who called them. And now I read where some big wig at the OCC is playing coy..saying he dunno when the “new” framework chart will be available to the public..I can almost see him rolling his eyes while he’s thinking “aren’t they happy their getting a couple hundred bucks”

  5. In 2008 my husband was diagnosis with cancer he lost his job: we had a 15 year mtg only 7 years left. We applied twice for a loan modification Citi denied our request for a 30 years mtg. My income did not count since I was not on the mtg. The mtg balance was 186,000 when we were foreclosed on with 75 days in the process of third loan modification (making 1/2 payments) Citi foreclosed on us..sold our home for 483,000 within 10 days after we were removed from our home. It destroyed our family, we struggle daily my husband is struggling with ptsd from vietnam and agent orange. We can’t get claims approved from VA and we were counting on the indpendent forclosure to help bring justice to all of us who lost there homes because of the greedy banks…looks like we might be lucky to get a few hundred dollars:(

  6. This is all what the slightly over the top new agers were espousing around the 2012 thing. Its the awareness that “the system;” which stems actually from Roman taxation + feudal european roots~is absolutely rotten.

    Its sad that even one family should have lost their home.
    Worse that many have not lost their home but held in a state of terror by banks and their financial cohorts.

    Foreclosing is one thing, prolonging the ordeal purposely to maintain accounts and continue chalking up bailouts from the government is another evil and corrupt, unlawful and dishonest, criminally negligent aspect of the scam bank divisions have enacted.

    The most curious part is how these people fragrantly embezzle, commit larceny, and otherwise break the law,
    while washington simply stands by and…enables it.
    It really gets a person thinking that obviously, the whole rotten system really does work in its own sick parasitic design as a self perpetuating toxic entity.

    Well, what I have to say is~
    Good riddance.
    I never needed your crappy loan and financing in the first place, bank.

    I promised the moment one of your cheap crackhead collectors literally made comments that he personally would “enter my home and remove all my things and sell them on ebay,” to stop engaging with you, bank, walk away, and let you and your toxicity alone.

    And I have since.

    To the banks who themselves believe in their thousand year old delusions of have and have nots, and power based on money systems that dont remotely stand in organization on the slightest bit of scrutiny, a few thoughts.

    You tangled with the wrong group.
    You have no idea what fury of fate you have brought upon yourselves.
    By the time we are through with you, ALL business you conduct, even using the toilet will be held in broad daylight, subject to the scrutiny of even children.

    Banks. Its been a long time coming but over and over, pluto and uranus square, abrupt change and revolution occur, and you can try to theive peoples money and start some off shore tax haven retarded psychopath heaven but you. dont. win.

    We find you.

    We maintain justice.

    We are a nation undivided, with liberty and justice for all.

    All this time, we have been watching you, giving you opportunity after opportunity after opportunity to honor not some moral code, but the pillars of ethics in business. Maintaining the interest of your clients, your operations, and a duty to improve the world as you are able.

    Maintaining an infrastructure that is trustworthy.

    You have failed, and it has and will cost you.

    It has costed you years of an ongoing legal battle that has bled you near dry.
    Everything you banks do is being watched by pretty much everyone.

    In the near future, zoos will lose visitors when people realize that tracking the activity of vampire corrupt business people is far more invigorating than watching a bored wild animal in a cage.

    Far better to watch a human being who thinks they are commiting a heinous crime unobserved do so in a very public way, then have their door busted through and the forces of justice lock them up for a very long time.

    Its such divine intervention, this situation.
    You have spent vast sums trying to hide your crime, all the way to paying the very people you tried to fleece.

    While this is, as previously stated funny-to observe the collusion of front government organizations such as the occ and fed attempt hush money settlements that they cant even get right, what it shows is that your empire, and sway, are crumbled.

    Crumbling.

    this is only the beggining.

    There will be class action lawsuits, regulations so strong youll think you live in mussolini era fascism.

    And who will be being watched?

    Not the honest citizen who does her or his job diligently, steals from no one, does not lie.

    Being watched will be the crooks in the data centers at companies like bank of america.

    Traced by the NSA for 50 years.

    Weve been watching you shovel funds towards cocaine dealers and cartels.
    Weve been watching you enable arms dealers globally to be sold on every black market from here to iran.

    Weve been watching you, and gathering intelligence on you.
    All this time.

    Weve been seeing how you stole the payments from a family in georgia that they sent in good faith. We know how you routed it to a shadow account and then paid your credit card down…

    We have seen the whole, dirty game, and you can expect to be taken to the cleaners and then hung up to dry.

    Let the buzzards eat at your liver; corrupt and evil banks of america.

    You have lost.

    You owe people money, and lots of it.
    In April, you will pay.

    Then you will be slapped with 30 class action lawsuits, and the records from the foreclosure reviews which are being pored over not by the agents placed to observe you but by the voted officials placed to regulate them will be brought.

    The hole has only begun being dug for you, corrupt and evil banking people.

  7. It’s ashame that we, the homeowners have to wait the final weeks before a payout just to know what dollar amount we will get after getting a postcard in the mail. I’m pretty sure everyone who was involved in this settlement process have already gotten a much bigger pay check than what we’ll receive, especially rust consulting employees. One thing I really want everyone to know is how horrible CHASE mortgage/bank is when it comes to foreclosing on people. I was suffering from a medical illness called Lupus and was unable to keep my mtg payments current. I applied for a modification SEVeral times with chase for help not only did they deny me they INCREASED my mortgage payments and after I missed one payment from paying more than what my mortgage was, they foreclosed on me and NEVER NOTIFIED me until 3 weeks before the sale date. The WORST bank EVER!!!!

  8. Where is Suntrust? They are on the previous thread, but not on this one. I received a postcard, so I am still hopeful.

  9. Since I completed the foreclosure paperwork-40 pages or so -sent it on..last April… Freddi Mac called my husband’s employer.. the girl in the office called me and asked if we were getting a loan.. I told her no… cause she said, someone from Freddi mac called to verify that “he” is still working… I thought hmmm interesting.. then a couple months later I applied for insurance and got a copy of the credit report that was pulled.. Low and behold.. freddi Mac was on my report as digstar.. I chalked it up to the IFR.. what really was surprizing is last month my old loan officer called me and asked if I had the closing documents from my 2nd mortgage from 2007. She coulddnt tell me much.. but said Freddi mac has been persistent in getting these documents.. Luckliy I am a wacko and knew exactly where I had my paperwork= even thou I havve moved twice since that foreclosed home…NOW-I have contacted Freddi Mac and they say.. they dont know anything about it and have no record of it. The loan person said it is because of the foreclosure review.. I thought interesting… HAS ANYONE Had this happen to them? OR is aware of it?

  10. The Independent Foreclosure Review (prior to the settlement) stated that erroneous interest charges would be removed from mortgage balance and false credit reporting would be corrected. In light of the settlement, does this mean that we will not see these corrections and only receive tiny a check? Anyone know?

  11. I received my postcard in the mail but I don’t think I will see much from this. Our mortgage was through EMC Mortgage/Bear Stearns/JP Morgan Chase during this whole ordeal. I have requested a copy of our entire mortgage file and have only received a copy of the loan documents. They did not send me any of the correspondences that were sent to me during the loan modification process that I kept sending them paperwork over and over again. Well we have decided we are going to seek a lawyer. I have copies of some of the original letters that EMC Mortgage/Chase sent me during the process and they don’t add up. I received a letter that stated we didn’t qualify for the loan moficiation because we were not 60 days late and then 15 days later we received a letter in lieu of foreclosure. How can that be!! Sounds like fraud to me!! I also have a copy of my payment “trial” plan that was sent to us when they were supposedly working on our loan modification. Per our payment history they were taking 2 trial payments and applying it as one to our loan making us look even further behind. To make matters worse the 2 payments together added up to more than one mortgage payment, it actually almost made 2 but they still applied it as one. The banks are nothing but crocks and the OCC will do nothing about it to change it!

  12. I don’t know what to tell you. I read everyone will get something. It could be $250, it could be $125,000 in the most extreme circumstance (military houses getting foreclosed while overseas.)I was in Florida at the time. I honestly don’t know if I will get anything. I got one of those cards in the mail, but now I see Suntrust isn’t listed on this post like last time. But it did say, “Check your mail.” Money will be mailed. Honestly, I think I deserve a “solid” amount like everyone else. I lost my home, I lost my job. My credit score is shot. I tried the loan modification, mailed two payments and they never got back to me. I had to move because I lost my job. I was trying to sell my house for a 1/3 of what I paid for it because the housing market tanked from 2007. I have no clue what will happen. I just pray that I get lucky. I also read that people are getting $15,000. If you do the math, that is a good amount if you think about number of people impacted and the amount of money. I would love to get my life back and credit score back so I can move on with my life. Best of luck to everyone!

  13. And I thought we was the only ones experiencing the horrific ordeals from the mortgage company; Our saga began 2007 (it was Countrywide then) and continues today–now Bank of America. They’ve made false accusations, destroyed our credit, traumatized us with up to 12 threatening phone calls/day, having hidden behind agencies such as NACA pretending to care about families in crisis only to deny, deny and deny again application(s) for modification. NOW, we’re receiving postcards stating we’re to receive compensation for what these banks have done to us. The ONLY compensation I’ll be happy with is a check with lots of zero’s on it. (fat chance!)….I want to believe that GOD is hearing our prayers and in HIS time HE will handle each of these predators! (there’s got to be a special wing in hell for them!) The Word says the ‘last shall be FIRST, and the first shall be LAST!”…I pray that each of us will live to see this happen.

  14. @Rebecca, I agree, I believe that was the reason for the postcards, to see how many come back undeliverable. The IRS claims every day they have millions of dollars worth of checks unclaimed. Call the number people make sure they have a current address on file for you! I agree with others the banks can never repay us for what we lost, but after the last few years that we’ve experienced, I’m not turning down any money or the chance to have our good credit restored. God Bless!

  15. Do you REALLY have to call and confirm your address? It doesn’t say that on the cards. I’m not sure if I should give out personal info.If they mailed the card to my new address, they have it……???? I think it would be a HUGE BLESSING like @Gigi said. I think that would help in our situation. I don’t want to jink us, but look at the money and the number of people. I think there are some healthy checks out there….maybe 5,000, 10,000 checks. That is a lot of money for a “few people”

  16. I feel that everyone that was involved should receive the same amount and the mortgage companies should have been required to compensate each one 250K. Of course this does not fix the fact that families lost their homes but it would be a start to try and rebuild and at the least find a new home to restart. Citimortgage was my mortgage company and after multiple calls to them for a loan mod all they kept doing was giving me the run around and kept asking for the same information over and over and over and ever time I sent it it was something else they needed. We had a VA loan and up to 2 days before my house was up for sale I was told they could not do loan mods on va loans and that we were in a catch 22 Wow my husband served and this is what the bailout money was for that was given to them they should be required to pay every penny back with interest to each home home they did a disservice to. Citimortgage told me that a sale date had never been set and they lied because one was for December 7, 2009. And that was 2 days away and just like others someone saw it the paper and called me about what was going on embarrassing doesn’t even begin to explain how my husband and I felt with 3 small kids. I was laid off in December of 2008 2 months after adopting a 1 and 3 year old just to later find out I was pregnant now a total of 3 kids being homeless with us. My husband pulled his 401k to try and get citi to take the principle and interest less the escrow which was 9k of the 17k they wanted after telling us not to make payments while going through the Loan mod and they wanted all not some. Funny thing is our escrow has had an overage for 3 years. I am all in if anyone has a suit against Citigroup, Citimortgage, Citibank because they are all the same

  17. @ Eric, I don’t think you have to call and confirm your address, it’s a sure bet they have the correct information if they sent the postcard to your current address, but I’ve read where some people didn’t get the postcard and there are some people that didn’t fill out the review form that was sent 2 years ago. I did fill out the form but I’ve also moved twice since we short sold our house and maybe it’s wishful thinking but when I read there was a settlement and there would be payouts, I wanted to make sure they had our current address. Because we were denied a modification, short sold our house, the short sale was approved by the lender and while waiting for a closing date we received a letter from an attorney telling us our house would be sold in a foreclosure auction. So yeah,if we don’t get a dime, having our credit histories cleaned up so we can qualify for a mortgage loan in December (3 years after a short sale) is worth a phone call to make sure they have current information, I would say is a no brainer!

  18. I also got the postcard but I am confused because the house was my primary residence until 2006 but then was rented out until it foreclosed. So does this mean I am still eligible? The website doesn’t specify it just says if your primary residence was foreclosed. The national morgage settlement specifies that if it was your primary residence when the loan was originated then you are included but the independant foreclosure review doesn’t specify. Anyone else have any clue on this?

  19. @Kim, I think if you got a card, you get money. How much? I don’t know. I heard the minimum is $250. I’ve also read an average of $15,000 with a max of $125,000 in extreme situations. Doing the math, it averages only $850 per person ($4.2 million people for $3.6 billion), though I don’t know where that other money was going. I listened to the recorded message twice and it looks like we are getting something. It depends on your own situation. I think I got scammed and like @Lisa, my credit was shot and short sold my home. I lost about $30,000 in total not to mention the stress and my credit is ruined. No one will touch me for a new house because of the short sale though my credit score is higher and I have saved a little money from 2007. Makes no sense at all.

  20. We, too, went through the mortgage hell 2008-2011. Our mortgage company, CitiMortgage, bought our loan . We weren’t escrowing and 5 years later received a “bill” from Citi where they had been secretly accruing a bogus escrow account and decided to Bill us for it. After 3 years of attorneys and foreclosure letters..(we had not missed a single payment) we had a federal judge declare an order we were current on our mortgage. Citi refused to comply with a FEDERAL judges order lol. They are so arrogant! after nearly 4 years, they finally offer us a settlement of pittance …they have ruined our credit and still report a loan modification that we never asked or applied for, funny thing is how can our loan be modified when nothing about our loan has changed????? They are thieves and some glad day they will have to account
    before the almighty God. I cant wait for my $1.00 check from the Independent Review. ..lolol
    never mind we cant get our credit fixed, never mind the 3 yrs of hell, anxiety and ulcers,

  21. Do you REALLY have to call and confirm your address? It doesn’t say that on the cards. I’m not sure if I should give out personal info.If they mailed the card to my new address, they have it……???? I think it would be a HUGE BLESSING like @Gigi said. I think that would help in our situation. I don’t want to jink us, but look at the money and the number of people. I think there are some healthy checks out there….maybe 5,000, 10,000 checks. That is a lot of money for a “few people”
    Eric,

    I called 3 times before the cards went out and updated my address; the card was still mailed to my ex who was also involved in the foreclosure. I asked for a duplicate card and they refused. I demanded that they change the address and they said I had to submit it in writing. I’m sure the payment (if any) will go to him and I’ll never see it. He will cash it with my name on it.

  22. Just from reading all the legal documents I believe the payments will break down like below from higher payments to lower. Really nobody knows what were getting and what category we will be placed. With the money arleady sent to Rusk for payments I believe people that lost their house will be paid more generous on the 3.3 bill and the people still fighting the good fight will get smaller amounts and the remaining 5 bill is to help them.

    1 – Military who lost their home
    2 – General Population who lost their home
    3 – General Population who is still figting the good fight
    4- Gneral errors, interest rate, etc.

    Either way it’s a bad deal for all. I lost my job in 09 filed bankruptcy got put in a chapetr 13 due to wife’s income, my house which was included and paid throught the trustee for 6 months. on the 7th month US Bank petitioned the judge to foreclose even though we were in an active bankruptcy. Judge granted the foreclosure even though my attorney fought this vicously. They basically said we could not afford it due to me losing my job and took it. So no job and got forecloded on – happened so fast, pretty much in disbelief, my daughter was 2 years old at the time.

  23. I rode the roller coater ride with Wells Fargo, rode it for 2 years. My Dad would say what ever they ask for give it to them. Some paper work I had faxed just yesterday and they would tell me in there hand were numbers different than what I held !@ first I was going to Kinkos and other fax kiosk mpo money. Then the bank told me to just fax it from any Wells Fargo why did I start that, faxing then became my fulltime job, and I am not talking a few sheets of paper. Then one day my spirit just said pack up it’s time to go. I saved my dignity what little was left, my gut was telling there is some okie doke going on. When I got off the roller coaster Wells Fargo said we can’t do A loan Modification because you had one in the past. Well did they know this when then started to Loan Modification process. My mail lady is the one who cut the court house step notice out of the paper and left it for me. Thanks for heads up I thought until the very end the bank kept saying you have time, you have time we’re working with you, more like working against, I turned the lights off and said good bye to my house Feb 2012. Of all the house sitting vacant on my block my house was the first to be re-occupied. The bank bought the house at auction. : (

  24. After receiving the postcard last week I read everything I could find by going to the two sites given on the postcard and then googling “Independent Foreclosure Review”. On Monday morning I called the number on the card to get more specific info and the customer service person knew no more Than I did. She had a script and could not answer any question I had. Our loan was with HSBC; I called them in 2008 when we first started having problems and ask if we could get a reduced payment for just a couple of months until we could “financially regroup”, but was told they couldn’t do anything because we weren’t behind. We struggled to keep our payments current as long as a could, but when we got behind I called to try to get help and I actually had an HSBC rep tell me I needed to get a payday loan or car title loan to get money to pay them. We put our house up for sale,but because of the market at time we were upside down. We tried to do a short sale, but couldn’t get any help from them when trying to get an amt they would accept so we could know what we could sell for. Finally we had to file bankruptcy and the house was foreclosed. It is one of those things no one understands the stress foreclosure causes until they’ve been there. In 2007 both my husband and I had credit scores in the 780s, now they are barely 600. It makes you feel like such a failure. We are in our late 50s and went from a 4600 sq ft house on a lake to renting a 1500 sq ft house. I’m so thankful to have somewhere to live, but it’s depressing to know we will probable never own a house again.

  25. I myself was dealing with Wells Fargo in 2009, I was activated for a trip to IRAQ in March of 2009 and was released from active duty due to medical reasons in June 2009. During the time i was mobilized I lost my job which was a six figure income, then lived off my savings in order to make the mortgage. In September of 2009 I started talking with wells fargo to see about modifying the loan but they said I had to be in arrears first, which did not make sense. Then when I did get in arrears then they said i did not qualify for anything, so I made the decision to try to sell the home unsucessfully, by May 2010 my home was sold for market value, as i see it they got paid from the auction and the FHA loan I had. I even tried to enact the Sailors And Soldiers Releif Act, which they conveniently kept losing the military orders i faxed to them. That was just the start that caused my life to become a living hell since then. I am optimistic to see if anything comes from this postcard I received from the Rust consulting company.

  26. I have read all comments and stories. I find it heartbreaking. I understand what you are all going through . We also lost our home in 2009. We had a loan through National City which was then bought out by PNC. We filed for hardship loan modification and were told we were approved. I mailed in the first payment with all signed paperwork. I guess in the mean time a certified letter was sent to my mother in laws house for me saying the house was going up for public auction and the date was two weeks away. We did not know about this until after the sale due to not receiving the letter in time. They sold the house and evicted us in 30 days . We recieved our check back and was told the loan modification was now voided due to them not receiving paperwork in time.. I have no idea why the sent the certified letter to an address in a different town, yet all other correspondence from they came right to my primary residence that they were foreclosing on… I have no idea what the payout will be but nothing can replace the emotional toll and stress this has put on me my husband and our four kids. My kids had it the worse as they had to leave behind their school and friends without any notice..I am curious if anyone else here had business with PNC ? If so is your story similar?

  27. We have all been through the problems. I’m sure many of us are just getting over things and getting our lives back on track. Then they send a post card that looks like junck mail telling everyone who foreclosed they will receive a payment. They throw all kinds of numbers out to keep us all wondering and feeling good about it then in the end majority of us will get checks for $250. Whatever I’ll take whatever that give, but they shouldn’t have sent anything without giving more detail. What’s the point. It seems that they want us looking and wondering. I also read that at this point the banks employ the people who will determine who gets what and then it will be reviewed. Why would they trust the banks for that task? They will screw that up too. There will be people who didn’t even for close getting the $125,000 checks. Haha What a nightmare this is going to be.

  28. This whole system is just wrong and screwed up. My nightmare was with Citimortgage. After my ex and I separated and i was forced to take a job making less money, I spoke with Citi about trying to get a loan modification because I could not afford the current payments. Since I had already started falling behind I was told I could get one. However, it never went through because they could never find my paperwork or they had sent me some correspondence to complete that I had never received. Meanwhile they were pursing forenclosure. And everytime I would call they would tell me not to worry about it because they were going to give me a modification which again I never got because they would never receive the paperwork. Finally I just gave up. I too am looking for a class action suit against CitiCorp….they suck and turned my life into a complete nightmare. And too think my health went downhill after all this and all I have to look forward too is about $250 what a damn joke.

  29. I had my loan through chase bank. We tried to modify our loan, which it seemed liked we had. Until they raised our payment from 1100 to 1800. Needless to say we could no longer afford the payment. We tried to work it out with chase, to no avail. We either had to walk away or short sale. We eventually were able to short sale, during this time were being told they were starting foreclosures proceedings. We did short sale our home and chase approved it WOW! Once we were out we received a notice at the rental house we moved to that the house we just short sold was going to sold in an auction. Any idea where I may fall into this payment matrix?

  30. @Brandon, that is the same situation we were in, we were denied a modification, decided to short sale to stop the foreclosure, received an offer and the short sale and offer was approved by HSBC and while waiting for a closing date we were notified that our house was going on public auction at the same time. If anyone knows the answer to the question of where we fall in the payment matrix, I’d be glad to know that too!

  31. So I did some math: used 4.2 million people to 3.3 billion dollars. Here is a scenario- if 3.6 million get $250.00-that’s only 900 million dollars. So there is 2.4 billion remaining, divide that by the 600,000 people left assuming that is split up it equals $4,000 each. Under this scenario your chances at $250 is 86 percent, and $4,000 is 14 percent. That 14 percent goes much lower as larger payments are disbursed-so really only less than 10 percent are really going to get anything, which is not much at all things considered-this is a joke. Only salvation is the 5.7 billion to be used for deficiency judgement forgiveness.

  32. I got my card. I was a few payments behind and when I went to pay them they mailed me my check back because it wasn’t the full amount. Then, September 2010 I was told my house was up ‘for Auction’.
    My son and I hastily vacated the house….which was Never sold. It is 2013 and after filing Chapter 7 bankruptcy w/ discharge from house, I have all the hoa fees and they are hauling me to court over these. As long as the bank does not foreclose on the house, it could go on forever. I’ve asked them if I could sign the house back to them but they said no…you have to do a short sale.
    A horror story. I will never own a house again or trust banks.

  33. My husband and I were financed by JPMorgan Chase. We brought our house for 158,000. Our housenote was 1789.00, yes 1800! Excited to purchase a home we did not think of the amount of the payment, because we both had decent jobs, I am a nurse and he had a good job at a local manufacturing company (GE). He was also an active Navy reservist after retiring 20 years. We managed to do well until my husband lost his job in 2008, we put in for a modification and our payment drop to 950 for 5 months, then we received a Fed Ex with forms stating our payment will increase to 1524.00! We contacted Chase again, and got nothing, filled out papers for a modification, again then finally we received, another Fed Ex packet, that inform us that our modification was going to be 1350.00. At this time I was the only one working and it was hard to keep this up, whenever we called Chase, nothing! we were told that they could not lower our payments! This situation was terrible we just stop paying and contiuned to ask for a modification. A few months later, on our back door a lock was placed, someone had entered our property placed a note in the window,I called the number that was listed on the paper and was told my the representative that I still could enter the front of our home, and I was given the code to the lock box! I entered the property just to realized some of our belongings had been taken, a table top casio piano, computer etc. I called the cops made a police report, and called the number again to the agency Chase hired to place the lock on the house. I even called Chase! After all this, we continued to live in the house until we could find a place to rent. I received al call one day at work from a relative, that saw people in my house putting stuff outside. Frantic, I left work, and came home to our belongings being placed outside! I was not even served papers!They just put our stuff out! and were even allowing people to come over and go through it! They foreclosed on us in June 2010. We received papers stating, that we qaulified for compensation, and when we received our papers we submitted a claim online. Well we did not receive an infamous postcard this last time, so I called the independent mortgage settlement number, and explained to them, that we did not get this postcard mailed this month. The representative, told me because they sent it to the other addresss! Really! I changed the address online when I submitted the claim, he told me that I had to submit a address change in writing, and it would take two weeks to get put in the system! Well, I think it was DEAD WRONG how we were treated put out in the streets, no warning no papers served. I too want to get over this! And 250.00 dollars is just a slap in the face to us. We continue to live with my mom, because our credit is LOW, because of the foerclosure, and even renting a decent apartment has been challenging! I think we should be compensated way more, enough to start over again! Sad!

  34. We went through all the same b.s. as everyone else, tried to do a short sale, but lost our home any way. 6 months later we were sued by wells fargo for 40,000 dollars plus attorney’s fees. we lost in court and had to do a chapter 13 bankruptcy. I know we all lost a lot, we are only hoping to have the lawsuit dropped so we can move on with our lives. So do we deserve money from them on top of the lawsuit amount? Don’t really care about that. How many of you are still required to give these crooked banks money after you lost your homes? it is a monthly reminder of how wrong this whole situation is.

  35. @Nick, there were about 550,000 people that requested the review. I would not divide the number of the payout by millions of people. The people who did not request a review will be receiving the minimum payment. Then the others that requested the review will receive more than the $250.00. My question is, is this one pot or are the homeowners payments being broken down by their individual servicer. My questions is if my loan was through Wells Fargo, am I getting paid from the contribution that Wells Fargo made, or from the payout as a whole from all of the servicers?

  36. @Meredith W the same thing that happened to you happened to me. My servicer was Saxon Mtg. They had the nerve to enter my house and change the lock on my back door. They even ransacked my house and when I called and spoke with a rep they said they went to court and had been awarded ownership of my house. What a bunch of crap and this was prior to them foreclosing on my home. I filed Bankruptcy to try and keep my home and was making payments every month. Out of the blue Saxon called me and said they could help me but only if I had the foreclosure dismissed. I went to court and had the foreclosure dismissed as Saxon suggested. I was told by Saxon that I was qualified for a modification and was put on a mod plan. I made the monthly payments for three months and was told I would get a permanent plan after the trial plan. I sent Saxon the paper work they requested but every time I called to verify it was received I was told it wasn’t. I kept sending the same paperwork over and over again while patiently waiting on them to modify my loan. During this time I received foreclosure paperwork in the mail I called Saxon and they told me not to worry they were still working on my modification. Next thing I received was paper saying my house was being auctioned. What a bunch of crooks.

  37. Anne, Of course this is just speculation since we were given no information, but I think each person will receive payment from their mortgage servicer. Our loan was with HSBC and I figure our little piddley check will come from their $96+ million. I’m curious how each servicer came up with the figure they were in for? To be honest I was not part of the review, I think I remember receiving something, but didn’t believe it was legit. At that point I had not heard anything about the IFR so I didn’t take it seriously. Since receiving the postcard last week and investigating to find out it is I’ve become obsessed. At the time of the foreclosed and bankruptcy I was so stressed and “out of it” I couldn’t think straight. Now that I’m trying to remember every conversation with HSBC I’m angry with myself for not fighting back for the way we were treated. I think I didn’t realize I could and really didn’t have the fight in me — or the money. Is there a statute of limitations I wonder? Without hiring a private attorney I wouldn’t even know where to begin, plus I didn’t keep records of dates and who I spoke with. As much as I could use a couple of hundred dollars I don’t think it is worth all the memories and feelings that one little card brought back. I was expecting to get more info in the mail today since they said we would payment information by the end of March, but perhaps they were talking about last weeks card. Something I didn’t mention in my other post – we found our house had gone into foreclosure when my husband saw it in the legal ads in the local newspaper.

  38. @Anne yes I just found out as well. If you were among the 11 percent who did request a review, those would hold greater standing, as I was one of those who did, and I lost my home to foreclosure because B of A would not accept at least two offers for my home because they wouldn’t offer financing, even though I was financed under Countrywide when I first purchased the home. So a combination of requesting a review, and actually being foreclosed should pay out more than those who didn’t, and are still trying to keep their home. That where the other 5.7 Billion comes into play. Foreclosed homes I believe won’t have access to that money. So my formula should still be pretty accurate. And I also believe that each bank made a contribution to create a pot of money and the regulators will divide it out base on the category you fall under, not from which bank it’s from, and Rust Consulting is cutting the checks. Question bears now are the levels and amounts. But again 11 percent requested the review, and only that percent or less will receive anything above $250.

  39. My other question is for the foreclosed victims, the 3.3 Billion dollars was the “negotiated” cash settlement between the banks and regulators. Do they actually believe that 90 percent of these victims are going to be happy or feel that they have won by getting 250 bucks? To me there are too many victims for too small a pot of money. The bank all got bailed out and in turn that money was supposed to eventually help us, but their idea of help is 3.3 billion which is a drop in the bucket for all of us. If that is the extent of their idea of true assistance, then we will never get what is truly owe to us unless a class action comes out of this for thing $250 bucks is going to do anything but Piss us off. It’s up to us now, as they laugh away their pathetic settlement.

  40. Think about it like this: you lent $100 to the the bank knowing it’s what you need to pay to live and didn’t expect anything back, but if I did something illegal or to financially injure you, I promise to fix it any way I can. Well it happend-I did wrong, I have the hundred dollars you borrowed me, and I have much more than that, you even helped me even more by getting us bailed out from paying your taxes, so now I am really prepared to help you. but you know we have a business to run, and we have to stay profitable, so here is 2 dollars for your investment, pain, and suffering, and hope you bounce back soon so you can give us more money again when you attempt to buy a house- hope you worked hard to fix your credit, after all it was you fault right?

  41. @Josh Yes! Our case was reopened the begining of the year, they (Chase) are trying to collect 115,000 from us. The house was sold 9 days after it went up for sale for 100,000. Chase states we owed 215,000. Now of course they want the remainder!! I guess we will have to file bankruptcy.

  42. I’m curious where the $250 figure is coming from. I’ve read every current article I can find that seems to be “official” and the only thing I find that is repeated over and over is the amount will be “from hundreds of dollars to $125,000″. On the official “freqently asked questions” and other current (after March 2013) info I’ve read nothing is mentioned about differentiating between those who asked for a review and those who didn’t – although I’ve seen it in older info. The only thing I’ve read is that those who actually lost their home may get a larger payout, but who knows if that is still true. At this point I don’t think anyone outside the OCC or Rust knows the payment schedule, everything else is only speculation. I guess this one of those cases where we pray for the best, but be prepared for the worst. I wish I hadn’t known anything until I got a check – then a $250 check would have been exciting – now it will be like getting screwed all over again.

  43. Hello to all I was suddenly schocked last week when I received a post card tell about compensation. My loan was with litton loan servicing (Goldman Sachs)…now I feel first of all rust consulting should of waited to mail out the post cards being now they hv people relieving what happend after majority hv try to move on After time. Litton did a wonderous job on me and after passing trial mod and even getting paper work back saying I passed the lies and paper work lost stories started to happen for the next year I was forclosed on in march of 2010 . I believe payment comes from the servicer or bank that had your loan not one big pot and split it up among every body . For those who had loans with litton loan (Goldman Sachs and Saxon (Morgan Stanley) they were not part of the IFR not until it was shut down did these to banks decided to put money in too for the forclousures they did so in reading some of the stories I think it won’t matter if u filled out a request for review or not as far as one who did fill out a review and those who did ..remember my loan was with litton loan owned by Goldman Sachs who were not part of the 10 banks at first for IFR and I got a post card they came in after the study was shut down and pressure on them made them through in money too so hope this is helpful to some and if u go on the FAQ’s it will direct u to compensation plans and other news links

  44. When I lost my home back in March 2010 I got cash for keys from Bank of America and my mortgage was with Chase. Can someone explain that. I would have moved out voluntarily but when the Realtor arrived he actually offered the cash . I took the check cashed it and moved out. I have never looked back and just went on with my life with my kids and wife. We have been lucky and are now moving into a new home with my wife financing this one. Looks like I will get a check from the foreclosure along with the other 4.2 million people.

  45. We can be assured that whatever amount is received–$200 or $10,000– the IRS will consider it income and will expect (as usual) more than their fair share. If any of us get money from this, I must recommend planning to send about 30% of it to the Feds. Never mind the 50k down payment we’ve lost or the lack of a home loan modification because we were turned down, or the fact that I cashed out 12 years worth of my teacher’s retirement to try to save my home. With 16 years in public education, it’s as if I only have 4. I’ll never be able to retire. Rent is higher than a mortgage. SunTrust STILL takes $219 per month from our account for the HELOC on this worthless pile of sticks that has robbed us of our financial independence.

  46. I had Litton after Lime, WaMu and a couple of other places my n w to. I took 10,000 out of my retirement fund in an effory to stop foreclosure. I did a trial period mod and afterwards they still denied me a permanent mod and applied my retirement money to taxes. At the end they wanted 1638.00 a month for the mortgage. Simply could not do it. I’d be happy tp get my 10,000 back for sure.

  47. I had my loan through Suntrust. Bought the Florida house in 2007 for $308K. Appraised for $351K. I was excited. The housing market tanked, lost my job. Tried loan modification, I sent in two payments and they never got back to me. I tried to put my house on the market for a short sale. The appraisal took forever. Many phone calls, many faxs. It finally appraised for $155K after the housing CRASH! Couldn’t get the paperwork in for that appraisal. I couldn’t pay the mortgage because I lost my job. I was paying $2300 a month for a house that was worth less than half that. I had to leave the lights and water on possible buyers for over a year ($40-$60 a month). I sold the house 18 months later for 135K in a short sale!!!! Embarrasing…….My credit is shot and I have no choice but to wait 2 more years to get another house. I don’t know how much I will get but, I need about $30,000 and my credit rating restored (yeah, in my dreams….). My credit score is good, but because that foreclosure (though it was short sale) no one will touch me. It’s a joke.

  48. I trust GOD and I know he is going to make sure everyone that was affected by this will receive something that will help them is some form or fashion. Receiving something is better than not getting anything at all.

  49. @Plusdiva51 I agree with you… At the end of the day God is the one in control no matter what it looks like. I trust Him!

  50. I cannot believe it is taking them so long to let us know the exact amounts that we will be receiving. I was one of the ones who filled out the request form last year, had a mtg with Countrywide, requested a loan modification, spent a year faxing and mailing information only at the end to be offered a new payment that was higher than the original! My husband lost his job and we really struggled to keep up, our home was in AZ where foreclosures were rampant. My husband worked in the home building industry and he could not find another job. In the end we filed for bankruptcy and they foreclosed on our home. My husband and I both are in our mid 50′s and we have really struggled since…losing our savings, assets, etc.
    I am really hoping and praying we get at least a bit more than $250.00 otherwise it just seems like the anxiety and worry were a waste of time. I got my postcard, called Rust Consulting and of course they had no figures or time frame other than some time in April we will all be informed. I want to be optimistic but my hope is dwindling that any of us will be treated fairly…good luck and blessings for us all!

  51. It truley amazes me that the numbers are being kept hidden when the checks are due in just 2 weeks. How is the framework different? For $3.6 billion cash going to 4.2 million people, you would think all the networks would be on top of this story. In my opinion, even though most of us cannot afford a lawyer (unless you have the prepaid legal), there needs to be an individual lawsuit instead of a class action lawsuit so that the banks can feel the wrath of everyone instead of us feeling the wrath of the banks after they did a number on us. How backwards this whole thing is.

  52. I also did receive the post card,and I did call rust consultant to verify was I on the foreclosure review list I am,of course they are reading a script,I did ask how much no one knows at this time the representative did inform me if you do not receive anything within five weeks,to give them a call around that time or before the fifth week they should know how much you are going to receive,good luck everyone I Hope and pray everyone and course myself do well in the outcome, God bless.

  53. I want to understand how using 2/3 of the winning from this settelment for all the bull shit they said it was for, is going to make me feel as if i won. My loan was quailfied against chase, we saved our home had to pay over $ 6,000.00 in crazy fees. Now I hear i will get next to nothing and if that is not ture the OCC regulators have not done there job letting us now how much we will recive, they really thought we would not want to now? The faster they pay the quicker we will learn to move on again.

  54. Teresa I agree…this is all on the OCC…do you believe that the spokesman for the OCC actually had the NERVE to say that the “framework” we all were looking at no longer applies and then he proceeds in insulting us even further by smugly stating the “new” framework hasn’t been released to the “public” yet…chuckle chuckle….he KNEW that would stress us out even more…make no mistake..they enjoy keeping us stressed out about this. Calling Rust is a total waste of time – they are just the “robots” for the OCC – well paid robots, but robot nonetheless. My two calls to Rust: 1) you will get a second card by 3/31 that will tell you what category (errors) were identified with your foreclosure. It’s 4/1 – NO 2ND CARD. Call #2) Rep is all happy and tells me the reviews are “done”!! Well yippy, so tell me what category I fell in – I know where I should be – I’d just like to verify it….well Mr. Happy Rep got snippy and transferred me to a “floor” supervisor – floor supervisor huffed and puffed and grabbed her script etc etc…I mean was I suppose to be scared…what’s she going to do, blow my house down – or take it away from me —oh yeah, they already did that!! All I know is my next calls are to the OCC…such a lot of work for just a couple hundred bucks, but I don’t feel the least bit guilty calling Rust, they are getting PAID BIG TIME to talk to me.

  55. @Unknown: the pdf framework you listed is from 2012 – and is the one Bryan Hubbard states is no longer the framework they are using…keeping us guessing is Mr. Hubbard’s stock in trade. And the National Mortgage Settlement is a totally sep. case from the Independent Foreclosure review that is being discussed here.

  56. The math does not add up that anyone would receive more than $840. If they do, that means someone gets less. $840 would not even paid for the moving expenses and just a joke!

    Can’t even comprehend how someone could get $125,000 with these numbers.

    Just another classic example of our government trying to be fair but so utterly unrealistic.

  57. Check this out it gives a little insight as to what is going on. http://www.forbes.com/fdc/welcome_mjx.shtml
    Apparently JP Morgan put 5,000 people in the wrong payout category and had to add more money to the foreclosure review fund to make up the difference. The OCC I believe is leaving the determination of financial harm to the bank and they are breaking it down into 11 categories. I am not sure if the determination has been made already or not. This will have to all be keyed into Rust Consulting’s computer, names, address, and payouts. I am sure this is what is also causing the delay. My earlier question the other day is if its one big pot or are we being paid by what our individual servicer I think we are being paid by what our servicer’s contribution was. That may get people more money. I really think only the people who did not apply for the review will get the 250.00 minimum, those who applied will get more.

  58. FYI: There are 2 lawsuits! There seems to be some people confused on what is what. There is the Independent Foreclosure and the National Mortgage Settlement. One is with (last count) 6 banks and the other is 14 banks. You should look them both up and see if you get something from just one or from both. We are getting from both.

    I am not going to give up hope with the independent foreclosure review. The payment structrure is being changed because the “independent review employees got caught! They can’t account for the 2 billion dollars (yes, BILLION) they charged. That’s about 20 thousand dollars per review!! They are got paid more than we will receive!! Keep your fingers crossed and maybe, just maybe we’ll receive more than what they first thought…. Good luck to you all!

  59. @ Mickey thank you, with all the web sites there is on the web, i could not figure out were i read about the $250.00 and it just makes it more fustrating. I wish they would just give me my money. Let me move on as I had already done and keep being thankful to my mother who was able to bail me out of the mess. Just as a note when they served me with the foreclosure notice for over $6,000.00 I looked at the day the money needed to be paid at it was 12/24/2010 (lol) i could laugh about it now, but shit! was that the topping on my x-mas cake!!!!!!

  60. Would you all mind putting your amount received on this site? I will when I get my check. I’m interested to see what everyone gets. Good luck to all and God Bless!

  61. 3.6 billion in cash settlements to 4.2 million cash borrowers ranging from hudreds to $125,000. Only the the military service members who were wrongfully foreclosed on overseas will get the $125,000 the rest of us will get between 500-15,000. The part to pay attention to is the 5.7 billion dollars in the loss mitigation assistance. Those like me who still have those homes from 2009-2010 who were denied loan modification and are in chapter 13 bankrupty etc. We the ones who can cash in with modification and cash. I read under the new provisions if the bank denies you modification they have to pay you $35,000..

  62. We ended up selling our house due to a short sale May 15, 2012. From 2008-2012 were horrendous my myself and family. We attempted to do a loan modification after loan modification with Chase. First we were denied, then approved, then denied again. We sent our modification payments in only to be told they did not receive them but we had proof (bank statements) they did in fact get them. We went to court to fight off the foreclosure but only to be given the run-a-round by the courts and the bank. Long story short, we ended up doing a short sale but that too took it seemed forever. The buyer put a contract on the house in Jan/Feb 2012 and we finally sold it May 15,2012. I wonder which category I fall into. I have been trying to find the up to date framework for pay-out and can’t seem to find it.

  63. @Rachek I just called Rust Cons they said the distrabution plan will be posted in mid April. they also said the checks will not go start going out till then, also the said checks will go out in groups the last group being no later the June 2013. The catagories are already avalible to view here is a link hope this helps some one to new information, I will cont. to post any new info i find or i am given and if anyone has any new info it would really help.
    http://www.google.com/search?hl=en&client=tablet-android-samsung&source=android-browser-suggest&q=waterfall+of+borrower+categories

  64. Reading all these comments breaks my heart, but I wish I had of been able to read when we were going thur our hell just to know we weren’t alone. I guess the old saying “misery loves company”. So many of the stories sounds so much like mine, because we had our house up for sale for almost a year we at least had a place to move, not like some of y’all who just came home with a lock or notice on your door. My heart goes out to all of you. As I’ve said before our loan was with HSBC (haven’t seen anyone else with them comment), but as bad as it was Chase seems to be the very worst. I never even knew a modification was an option – I’m just now learning that they were suppose to at least give us the oppotunity to complete an application, but we weren’t. Actually after reading about everyone’s modification problems perhaps that was a good thing -LOL. Also, we tried to do a short sale, but didn’t because HSBC wouldn’t help us – I’m also glad we didn’t after reading the horror stories of those. These things hurt everyone in the family. My husband and I went thru so much stress, embarrassment…, but we had two teenage kids who I tried so hard to shelter from it, but nosey people took care of that for us. I lied and told them the house sold and that was the reason we moved. Shortly afterwards my daughter’s good friend called her to tell her that her mother saw in the paper that our house was foreclosed, then a neighbor told my son that our house was being auctioned off. I actually felt worse for them than I did me. Teenage years is a tough time anyway, but to have all your friends talking about you makes it worse. Just want you all to know I’m praying for all of you and your families. Money can’t change what has happened to us, but it my case it sure could pay some bills and loans that will remove some financial and emotional stress and help start getting our credit build back up. Good luck to us all.

  65. @Teresa, please use caution when posting information. I do not believe that is an OFFICIAL list of the categories. That is one that the Washington Post created on their own if I am not mistaken.

    At this point there is SO much speculation on this whole situation that I can see why everyone (myself included) is getting more and more anxious by the minute. I also lost my home to these monsters (PNC Mortgage) after a HUGE battle so I feel everyone’s frustrations. But I just wanted to throw out a word of caution on giving mixed information on top of an already confusing, frustrating and depressing situation.
    At this point NONE of us know what the official categories are, where we will be placed in the mystery categories or how much compensation we will recieve…. That is the ONLY thing (in my opinion) that is official from the borrowers perspective.

    Unfortunately, all we can do is wait and see what happens next. BUT, in the meantime, PLEASE CONTACT YOUR LOCAL AND STATE CONGRESSMEN!!!!!! If we, as a group get loud enough from full circle, MAYBE, just MAYBE someone will finally listen.

  66. @ Teresa, THANK YOU so much for your help. @ Carol……how ruthless can some people be? I too have 2 teenagers living at home and I also had some very nosey ass neighbors. My husband had co-workers bring in the newspaper just to show that our home was in foreclosure proceedings. How humiliating that was for my husband! Of course no one offered any help and all they did was gossip! I lived in a fancy subdivision and gossip was ramped! We had one neighbor that had the audacity to rub it in our faces that he bought a new rv and he bought this and that knowing that I had just lost my job with the State of IL. and how we were struggling to stay afloat. We have since moved after selling our home through short sale and to be honest with you all………I miss my beautiful home but NOT the neighbors. People who I thought were my friends were not. This whole ordeal has made my marriage stronger and my faith in God even stronger. I know that he will provide but it still makes it hard for the rest of us feel like we were left in the dust with just the clothes on our backs and a few material items. God Bless us all!

  67. Carol..We were also through HSBC and tried to do a short sale when my husband lost his job and they would not do a modification and short sale was our last option. We had a buyer and each time our lawyer sent the paperwork to HSBC it somehow also got lost and we had to resend it…keep it mind it was always sent certifed so our lawyer had the receipts. The next thing we knew is our neighbor saw our house in the paper for sheriff sale, the day of the sale. we had received nothing from HSBC and it was never posted prior to this. Our lawyer went to the courthouse to try to stop the sheriff sale but was unsuccessful. We also had teen age children and I can not tell you the pain and suffering my marriage and my relationship with my children went through. This pain and heartbreak I do not ever want to endure again. Our credit is ruined and we can not even obtain a credit card or any type of credit to this day due to a foreclosure being on our credit report. It even effected my children trying to get college loans because we were unable to do any type of co-signing for them and kept one of my children from getting any funding on their own and was unable to obtain any grants or support because he had a savings account from working all through high school and the money he had in there put him over the limts for financial aid. HSBC destroyed not only my credit, but my family. Looking at all of the comments this is very confusing and not sure what category we fall under. We never received a packet to fill out because it was sent to the address were the house was foreclosed. I did receive the post card at my current address and when I called they said the packet had been sent to old address but that we were still eligible for compensation. However, from everything I am reading on different websites if we did not complete the packet we will get $225. It is not my fault we did not get the packet but again I will be penalized for this. The past five years have been a nightmare and believe me there have been times when I wondered if it was worth going on. $225 does not make up for the pain, suffering and heartbreak but no amount of money could bring my family back together again. I wish everyone the best of luck.

  68. I have a question for anyone that may have some insight. I never actually filled out paperwork, but I did receive a card. I was not aware that you could fill out paperwork. I had just completely given up. I tried a loan modification with no success. But more importantly, I tried to short sale my home with no success from Bank of America. They turned down the contract that they were presented with. Since I did not fill out a claim form, any idea where I may fall as far as category? I am hearing that only those that actually filled out a claim form would be entitled to a bit more than the $250? Thanks for any insight.

  69. First, let me extend my thanks to all of you for keeping this discussion going. There are SO many!

    I was also a victim of HSBC, referred to only as “Satan” in my household. I tried to get modification process BEFORE I fell behind but it was something new every time I called. You have to be late, send a letter of hardship, oh BTW we will lose :entire paragraphs of said har

  70. @ KP when the settlement was reached back in January for the Foreclosure Review I believe it was someone from the OCC that stated everyone involved in a foreclosure during that 2009/2010 time frame will get compensation. However, those that applied for the Review which I think was around 550,000 will be compensated more than those who did not apply for the review. I would have thought they would have tried harder to find people, they extended the deadline many times, and it was on my tv several times a day advertising it. I think that is where the $250.00 is coming from. That is the projected amount for people that qualify for compensation, but did not apply for the Review.

  71. First, let me extend my thanks to all of you for keeping this discussion going. There are SO many!

    I was also a victim of HSBC, referred to only as “Satan” in my household. I tried to get modification process BEFORE I fell behind but it was something new every time I called. You have to be late, send a letter of hardship, oh BTW we will lose entire paragraphs of said hardship letter. Needless to say I was denied, at least I believe u was because I never once received a written response. Then I was told I Didn’t qualify for government programs because my mortgage was not a government backed loan.

    I received foreclosure papers in October 2010 hired a lawyer and was able to thwart foreclosure and granted a deed in leu. It was a nightmare, but to just be out from the stress of it all. Once I got past the emotional ties to the house (raised all my boys), and loss of pride I was ok. I would have never recouped a cent, in my lifetime, for the house. I owed nearly twice as much as its value due to 7 other homes being empty in the block.

    er

  72. 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.

    Thascary 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

  73. @ anne, thank you for your insight. I was just hoping when they review my file that they will see that I tried to do these things (loan modification and especially the short sale) to save my home. But without applying for the actual review, I am assuming that Bank of America will not even review my file at all. I wish the best of luck to everyone out there and hope that everyone gets what they rightfully deserve from all of this mess.

  74. I maybe wrong, but I think the $250 came from someone “doing the math” several days ago. I have not seen anything off this discussion board with any figure other than “from hundreds to $125,000″. I think the $250 was posted and then reposted so many times it appears to be something official and I believe it was just someones speculating. Perhaps it is nothing more than wishful thinking, but I think the majority of us receive more than than $250 -at least $500 surely (in my mind I guess I think of that as being “hundreds”). Also, from the new “Q&A” I don’t see anything to make me think that previously requesting a review will have anything to do with determining check amounts, but as someone said earlier we won’t know anything for sure until they decide to reveal the new structure.

    @Rachaek — Like you, I’m happy to say that my marriage became stronger during this because we only had each other. Unfortunately, that is not always the case. Just recently finances became such an issue that it was driving me to the point of severe depression and I finally had to turn everything over to God and tell HIM I couldn’t do it anymore. Once I did that I stopped worrying and things started working out. I was always saying I was turning it over to HIM, but by the next day I took it back as if I could do a better job. After hitting the perverbial rock bottom and laid it as HIS feet things begin to change. I don’t know anyone’s religious beliefs and not preaching, but if you are a Christian consider it.

    @Sue – One of my lowest moments was not being able to get a loan for my daughter to go to college because of the foreclosure and bankruptcy. We “made too much money” for a grant, but credit was too bad for a loan. I work at the University of Alabama (Roll Tide), and even with 1/2 tuition we couldn’t afford it. That broke my heart completely into pieces when I had to tell her.

  75. I’m just hoping to get enough to send my son to college in the fall since I make too much money (which is a total joke…I’m a single school teacher) for much in the way of subsidized or unsubsidized loans and can’t get a parent loan due to the foreclosure. I need 4 – 8k, but I would honestly be happy with anything at this point. I do feel better reading all your stories here. My life was miserable from 2008 to 2010 and I really felt like such a loser for losing my home. I used to think that it was my fault. That I must have filled out the paperwork incorrectly or missed a deadline or SOMETHING! Why wouldn’t they want someone with a good, steady job to keep their house???
    Living in an apartment with 3 kids hasn’t been easy, but I know I can pay my rent and my kids will not have to change schools or go through a move like our last!

  76. @ Waldo if you were foreclosed while in Bankruptcy you are in the top 3 category. That is right there with those who were foreclosed on that were never late on a payment. I have a friend at one of these banks and that is where I got my information about those who did not request a review payment. I don’t know the actual payment but the ones who did not file a review are being placed in a category listed as “other”. Those who did request a review are being placed in the appropriate category above “other”. The payout also is coming from whom your servicer was, not one big pot. That is how the payments will be able to be larger for some people, and still be a decent payment for others. I agree with the post above from Carol, someone started the $250.00 and I think people just ran with that amount. I could be wrong, my source could be wrong. I think if you filed for a review you can expect anywhere from $1000.00 and up. I just hope that those who have filed and have been waiting for almost 2 years will be paid out first, and not in June from the last batch of checks.

  77. Grrrrr!!!! I just spoke with Rust Consulting, INC. and they could not find my “file”.I gave them my number on the post card and they could not find my info. We did in fact fill out the review form back in December 2012. Does this make any sense to any of you? It sure doesn’t me. If they didn’t have my info, then how in the heck did they send me a post card?

  78. @RacheK, yes they did have my file. They are very scant on details that is for sure, which I figured. Who was your loan with RackeK? I have two letters from the IFR the first one was that my request was received, and the second one was that my file qualified for a review. Did you receive any of those two letters? If so I would contact Rust Again and see who you would need to fax those letters to in order to find your file.

  79. My bank was Saxon. Saxon and Litton was never sent a IFR form. I was also screwed over by the modification mess and the Short Sale (no answer from the bank) just like everyone else then foreclosed in August 2010. I did however receive a card stating that I would receive compensation. So how can I be penalized when we never even got a form. I gave all the stress to God already!

  80. @Anne, my loan was with Chase. I just went through all my paperwork and I did NOT receive any such letters. I am beginning to wonder if it wasn’t sent to the old address. But funny thing is, is that I received the postcard at my new address. I remember receiving the letter from the IFR about the review and promptly went online as it stated I could and fill out the paperwork that way. I am going to call them again to see if I get a different answer. Thank you for your help.

  81. Since I have no legal expertise it’s hard to make heads or tails of some of the things I’m reading. We filed bankruptcy and our attorney did a “In Lieu of Foreclosure” instead of including the house in the bankruptcy (if it matters we filed Chapter 11), but we never heard anything until we found out we were foreclosed on. Does this mean we’re in Waterfall Catagory 3? Waldo Faldo, you seem to have the best grasp of the categories. Any thoughts?

  82. @Anne, spoke with a different customer service w/Rust consulting and they indeed receive my request for review but she could not tell me why I did not receive verification that such information was received. Geez…….. I wonder if I call back tomorrow if I am told something different. lol

  83. We were in bankruptcy chapter 13 when WF foreclosure on us twice first in April 2010 our names were publicity in the newspaper then the foreclosure was suspended in June 2010 due to the gulf oil spill until the last of September 2010 WF started the foreclosure again publicity our names in the paper we also were trying to get a loan modification during the time of the foreclosure and WF kept losing paper work and finally denial us we receive the post card and waiting to see what’s going to happen:

  84. I just got off the phone with a lady from Rust and she was very helpful,or as helpful as she could be with the information they are given. I found out I am actually in waterfall cat 3 and that is the new schedule of how payouts will be made. She said they have been told that the payout amts will be made public around the middle of April. She also said that it no longer makes any difference if a review was requested or not. This info may chance tomorrow, but supposedly this is the most current info. I am glad to at least know what category I’m in.

  85. @Relief ~ I feel your pain on the public humiliation. My name was in the paper numerous times regarding the intent to foreclose. So incredibly embarrassing and the same thing happened to me. Chase lost our paperwork time and time again for the modification.

  86. @Anne…hopefully by the end of the month, we will all know something. Lets keep our fingers crossed.

  87. Had anyone had their credit repaired? We are with Bank Of America. My husband had the foreclosure removed from his credit record. We have proof it was on their in June 2012?!?! It was a shock that they removed it. I believe it is because he was wrongfully foreclosed on.

  88. To bad we dont have an insider working for rusk consulting that would spill the beans on check amounts :)

  89. From what I read on the postcard and listened that recording, everyone who got a postcard WILL get a check. Am I right? That’s what it says unless postcards say different things.

  90. We did nothing. It was a huge surprise to find it had be taken off. It clearly stated “Foreclosure” in May of last year. Clearly it was removed because it was a wrongful foreclosure. I hope they do the same for everyone else.

  91. I just check my credit reports and the foreclosures have been removed on two of the three reports. It used to read “F” (F=foreclosure) and have 30, 60, 90 and 120 days late. It was also on the negative accounts side and now it reads pay as agreed, no late entries and is on the positive side. the one that have not updated is Experian but they don’t update a frequent as the others. I still send them a dispute telling them to remove it as agreed in the IFR settlement. Now to keep waiting to see what happens with the payments. For our family God fought this battle and won it as we went from loosing our home to where we are today, yet we always had a roof and food for us.

  92. I just finished looking at my credit reports. Wells Fargo has been removed from all 3. They were not updated, but removed. I wonder why they didn’t just update them. Now lets see how long it takes for my score to go up too.

  93. @Eric, yes everyone will be getting a check. I called Rust back today to try and get my category since Carol was able to. But was told it was not available nor was the framework until Mid April.

  94. I too called to see if I could get category info but to no avail. Mid April is when the monetary amounts are to be assigned to
    The Waterfall categories. I got the impression that there was new ibinformation distributed but a reluctance to share because she said there was new information and put me on hold but when she came back to the phone she only read back what was already communicated on the postcard.

    I did get a direct number for HSBC inquires:: 1-888-568-7642

    I would also like to get anyone’s feedback about the verbiage within the financial-remediation-framework “Servicer may offset missed and unpaid principal&interest payments and property taxes paid on behalf of the borrower, subject to certain limitations”.

  95. Anne, did you say that you did a short sale on your home? My husband and I did a short sale in 2009 – just wondering if/when it will be removed from our credit reports…Thanks for your help!

  96. @Melissa, yes we did a short sale. The offer was place in January of 2009 but the sale was not completed until May, 2009. Did you get a chance to pull your credit report to see if it was removed. I would have never thought to check that until I read the post here that someones report had been updated. You can get it for free at annualcreditreport.com. It will give you all 3 reports. If you haven’t checked your report lateley it may already be updated or removed. I am wondering why some are updated to a current paid as agreed but mine was removed completely.

  97. Just called and they could only tell me to check the website in mid April for an update with categories. I’m active duty military and filled for bankruptcy when my house was foreclosed on. It would just be nice to have some answers.

  98. Thanks, Anne! I checked after I read your earlier message and it’s still there :/ Wells Fargo didn’t offer us a modification or anything. Also, our offer was in place in January and completed in May of 2009 as well. I will keep checking. Thanks again!

  99. @Denise, I am not sure but I do know that you can either pay your house taxes yourself or have them put into your mortgage payment. We had ours in our mortgage payment. If your bank paid your house taxes on your behalf then your bank does not pay that back to you in the settlement, they deduct it because it had to be paid to the state or county. Property taxes are only paid back to you if you should have paid for the whole year, sold you home within that year then the borrower reimburses thier portion of the taxes when you go to closing. As far as the rest of the sentence I am not sure but somehow must apply the same way the taxes do.

  100. @Anne-Thanks! That is sort of what I thought, but I was wondering if they will find a way to reduce the payments somehow. “Unpaid principal and interest payments” could it mean missed payments up to the time of foreclosure?

    You would have thought all of this would have been worked out by now!

  101. @Denise, that would be my assumption regarding the missed payments. I wonder too about them reducing the payments. However, in my case they increased our mortgage by $700.00 for the modification which was outrageous for us. So I feel that we shouldn’t be penalized for the earlier missed payments because it was more than made up for by paying the extra $700.00 per month during our modification. After making those payments we were then informed that we did not meet the quidelines for a permanent modification, which to this day I don’t understand that whole mess.

  102. Anyone have any updates? Has anyone received a check? I read on some other website that this lady received a payment of 1500 from Countrywide. I find this whole thing hard to believe. I was foreclosed on. I requested a modification but was always denied over the phone. They never even bothered to send any paperwork. I’m still finding this whole thing hard to believe but after receiving the postcard, I am very curious!

  103. @Michelle do you have the link to the site you read someone actually got a check? I have been obsessed with this whole mess and have googled hourly for updates. Just curious. Thank you!

  104. Cautious- I don’t have the website. I was googling last night too. I’m surprised there arn’t more forums for this topic since so many people received this postcard. It was just a random post so I didn’t even think to save the site/link. I don’t even believe it though because it was a random post with no follow-up.

  105. @Cautious, like you I am constantly looking for updates. If someone already received payment I think others would have too, and we would have seen them posted on the different sites. It also may be a payment from the Settlement fund, and not the Review fund. Everyone that has posted here in the last day or two has spoken to Rust and posted the same thing, no payment framework or payment date till mid April. I am going to assume that is the earliest anyone would receive payment from the IFR.

  106. Did someone say in an earlier post that a short sale only stays on a credit report for three years? If so could that be the reason it’s no longer showing up on some credit reports?

  107. @Carol, you can apply for a home loan after 2-3 years of a short sale, otherwise a short sale stays on your report for I think 7 years. I checked my reports today and my short sale is completely removed. However, I kept a copy last years credit reports and it showed that my Wells Fargo short sale wouldn’t be removed until 05/2015. Foreclosure and Bankruptcy I believe is 10 years, but can qualify for a home after 5 years.

  108. This whole process is sneaky if you ask me. Especially the part where they say that none of us can appeal the amount we get. We all know that some checks won’t find their rightful owner and will be returned to Rust as “undeliverable” and some checks just plain won’t get cashed. That money should be redistributed back out to harmed homeowners – but that won’t happen because “they” are already telling us that one payment is all we’re going to see – so you KNOW who will get the money from those uncashed checks….it will be RUST who gets to keep it – or probably Rust has a deal to split OUR money with those sneaky little “regulators”. I hope that Elizabeth Warren, in her attempt to get to the bottom of this, asks “regulators” what happens to the “unclaimed” monies……bet they tell her if she’s a good girl, and stops asking questions they’ll cut her in.

  109. The TRULY SNEAKY part is where it says the SERVICER CAN REDUCE REMEDIATION PAYMENT AMOUNT!!!! Are you kidding me???? Wtf???

  110. @Anne – I have one more question – did you also do the National Mortgage Settlement? I only did the IFR – when I realized they were separate the deadline had passed to submit a claim form for the NMS.

  111. I called on the National Mortgage Settlement and I was told that I don’t qualify. I had Aurora who foreclosed on my home.

  112. I just checked my equifax report and it is no longer showing “foreclosure” on my mortgage account. It has a 0 balance and just says sold/transferred. Before it did say foreclosure. I have not dispute anything in years. I wonder what is going on…

  113. @Melissa, No I did not. I don’t know that a short sale would have qualified for the Mortgage Settlement. Plus I didn’t know about it till it was settled. The National Mortgage Settlement sounds like another mess. I think I can only handle one mess at a time! LOL

  114. @Tess, that is great! Obviously they are starting to correct the credit reports. I am glad because I thought that would have been done last or not at all. I am not expecting a “big” payout because we did do a short sale. However, I am so glad my credit report was wiped clean.

  115. My husband and I both agreed that they could never repay us enough for what they did. We are just happy that they cleaned up his credit. Its like a fresh start!

  116. @Kristine, I agree and I always said from day one if it was a choice between a couple hundred dollars or my credit fixed, I wanted my credit fixed. A couple of hundred dollars or so can easily be spent, our credit is our worth. I wonder how long it will take for the score to start to go up? I know that as soon as a foreclosure/short sale hit the report it automatically goes down immediately, I hope now that its been removed it will go up automatically!

  117. So far my reports have been cleaned like I updated yesterday. By reading the comments, it is obvious we are all anxious to hear some sort of news regarding payment and pay dates. This I think will come sometime in April as at least they have been consistent with this date so far. My big issue is, why no appeal process? Like many, our family endured quite an ordeal (thanks God He provided) and we have decided that no $ amount will ever ease what we endured. Yet, the $ is a way of “getting even” for lack of a better term. My question is, has anyone contacted his/her senator / congressman to see if we can have some sort of appeal should we get some crazy low amount from the settlement?

  118. @Anne – Thanks, then hopefully Wells Fargo will remove the short sale from our credit reports. If you don’t mind me asking, what did yours say? Ours says something like “settled for less than owed.” Also, I completely agree – don’t think I could handle another one either!!! LOL

  119. I have been googling this myself ever since the postcard was received. I also saw the post about the woman who claimed to have recieved a check from Rust Consultanting for $1,500 and her servicer was Countrywide. I have seen no other posts about people receiving payments. I called Rust Consultanting to try and get additional information about the payment categories or the amounts assigned to those categories and was told that the OCC would be releasing that information in mid-April, and that the payments were going to be sent in “batches” with the last batch being mailed in mid-June, but they could not tell me what category I fell into, how much I was getting…only that my loan was eligble for payment. The mid-June batch however falls past the postcard information of payments being mailed in four to eight weeks. I unfortunately think they are giving us false hope and this is going to drag out alot longer than four to eight weeks. If anyone receives additional information or actually receives a check…it would greatly appreciated if you would share that information!

  120. Considering only 250K filled out the paperwork the average check had better be at least $15,000 vs. $1,800!!

    I’m not expecting anything until early May! I received 3 Rust letters!!

  121. @Anthony~ WOW 3 letters! Why on Earth did you get so many (sorry if I am being too nosey). According to what I have read, everyone that received the infamous postcard will receive some sort of settlement whether they requested the review or not. I am so curious to how this is going to pan out for everyone. I honestly believe that Rust Consulting know more than what they are telling us but aren’t able to say more due to the customer service agents calls are being “monitored”.

  122. I checked my credit report on freecredit.com and our foreclosure was not there. Without paying $32 it would only show me Experian. It showed the bankruptcy under “public records”, but nothing else, so obviously it was removed. I would be excited, but I didn’t know my credit score was that bad. It is so very depressing. It is because I have three small credit cards ($500-$600) at their limit, plus the bankrupcy is still showing up. I’m just praying to get enough to get everything paid off or at least down and get my score up. I thought it was around 610, but it was so much worse – and what’s even worse is *I think* most banks and credit unions use Equifax and it tends to be lower. :(

  123. We were foreclosed upon by Wells Fargo in 2010 shortly after applying for modifications.

    My wife had been laid off and was pregnant at the time. When we first applied for the mod in June of 2009 we were up to date on payments but were told by Wells Fargo that we should not make any payments while in review because we would be denied if we weren’t delinquent on payments. I questioned this idea but went along with it because, after all, it was the bank telling me to do this. Throughout the process, I was strung along and told that I was missing certain paperwork, even though I submitted it several times.

    After a 2 month review we were denied because they said we were not in default enough. (are you kidding me, i said). They suggested that I re-apply and continue to not make payments on our note. Another month went by and we were then $3500 delinquent in payments, we denied a modification and then immediately foreclosed upon. We chose short sale and were out of our house by February of 2010. We went from up to date on payments to out of our house in 8 months with a newborn and a 2 year old.

    These people caused a tremendous amount of stress and humiliation for my family so forgive me if “fixing my credit” doesn’t suffice me. I’m sure there are others who endured even more offensive actions by their bank, however, I feel that I deserve the maximum based on the circumstances and problems it caused for me and my family.

    I’m hoping the news will be good but I’m not holding my breath. All of this just makes those feelings of dispare, stress and hopelessness come rushing back.

  124. I do agree that no amount of money could repay what we endured. I do certainly want my credit fixed but that is not enough for me.

  125. I posted this on the other form as well.

    Ok, I think I’m going crazy. Anyone have an idea what I will get? I ask this because I recall getting a letter in the mail about the IFR. I know now because I found it underneath 100s of papers in my shred pile. I do remember filling something out and sending it back in HOWEVER, I also remember getting some in the mail saying “I don’t qualify.” But the problem, I can’t remember who that was from and I can’t find that piece of paper.

    BUT I did get a postcard. So I have no clue. But I do have the orginal IFR letter I got in the mail. There isn’t a date on it, it just says to mail back that form by December 31, 2012.

    The letter says:

    “Step 3: Your request will be evaluated to confirm eligibility for the IFR. (Review by an independent consulant.)

    Step 4: Your request will be reviewed to determine if financial injury occurred because of errors, misrepresentation, or other deficiencies in the foreclosure process.

    Your bank will provide relevant documents along with findings or recommendations related to your request for review to the independent consulant for review. The review may take several months. You will receive a letter with the findings of the review and information about possible compensation or other remedy.”

    That was word for word. I have two questions.

    1. Did anyone received anything back?
    2. Did anyone received any “letter or findings” besides the postcard?

    For me, I got a postcard, but I also thought I received a letter back saying they didn’t find anything but I can’t confirm and I can’t find the letter, but I got a postcard. Ugh……..Help!!!

  126. Eric,

    I never received another response after returning the initial packet of information. I had actually forgotten about it until I received the postcard last week. I think you are OK.

  127. @All – Give Russ a call they will tell you if you are eligible to receive a payout.
    They should be sending out yet another postcard to tell you how much you will receive mid April, which is only a week or two away.

    Good Luck

  128. @Former WF Customer: I think that everyone that got a postcard is eligible for payment but am not sure. When I spoke with a representative @ Rust, she told me that I was eligible for payment. Did you speak to someone @ Rust in regards to another postcard being sent out?

  129. @Eric, I sent him my review packet and received a letter stating that it was received. About 4 months later I received another letter stating that I qualified for the review. I am a pac rat and keep everything for at least 5 years. Credit reports, letters, etc… I still have all of my short sale documentation. I was reading through it last night and found that I had faxed 4 requests to Wells Fargo because they said each previous one was not received. I am so glad I noted at the top of the fax before sending them 2nd, 3rd, and 4th request, so they can see how many attempts I made before ever getting a response from WF.

  130. @RacheK

    I spoke to a rep this morning and she said..they would begin sending out letters or postcards stating how much we would receive, mid-April.

  131. Has anyone called Rust per Former WF Customer post?
    @Former WF Customer, Are they (Rust) giving new or different information out today? I just called yesterday and was told nothing that wasn’t on the post card.

  132. So I checked all 3 credit reports yesterday and they all said our mortgage was discharged in our BK (which it was not!?)….funny, because they foreclosed on our house AFTER it was supposedly discharged. I called Rust today and was told I will be receiving a payment, but no date or amount was provided. The first rep I spoke with transferred me to the department handling Saxon borrowers and provided me with the direct line to them in case I was disconnected: 866-384-9366. The second rep was not all that forthcoming with information….anybody else have better luck with Rust today?

  133. I just called again today (HSBC) and was told “payments and/or letters requesting additional information will begin going out 4-8 weeks from the end of March, so into May. In mid April the websites will be updated to show the categories of harm, the number of people in each category and the amounts assigned to each cateory, HOWEVER individuals will not be able to determine what category they fall into until they either recieve their check or additional information request letters.”

  134. @Melissa, Experion and Transunion stated it was settled for less than owed. Equifax said settlement accepted for this account

  135. Can anyone tell me if we also had to fill out forms to be eligible for the National Mortgage Settlement? I also had Countrywide at the time.

  136. The person that received 1500 from Countrywide…can you tell me who sent it directly to you? Was it also handled by Rust and how long ago did your check arrive?

  137. To: Zuniga

    The attorneys general of 49 states reached a settlement with five mortgage servicers. They were Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo. If your mortgage was serviced by one of them and your first loan pmt was due between 1/21/04 and 12/31/07 or your loan was forclosed or over 120 days delinquent on 10/08/08 then your state attorney general if it participated in the settlement would have sent you a card and letter explaining how to submit a claim. You had until 12/31/2012 to submit a claim.

  138. I hope everyone realizes if you were late on payments when you were foreclosed on, they are going to reduce that amount plus any amount they paid on your mortgage or property insurance …just hope you all are reading the fine print..and worse part of it all…the mortgage company is the one making these decisions..WOW!!

  139. I still think the “low” amounts are a joke. We are talking about mortgages here. BIG NUMBERS! We’re talking about people’s lives. One of the most important things you will have. The minimum should be $2500 if not $10,000 IMO. I lost about $30,000, including equity, and my downpayment. It’s a joke.

  140. @Matt, yes and any taxes as well. Plus if you short saled your home there are other fees that are included in that as well. such as deed prep, property taxes, revenue stams, and the wire fee. I found that in my settlement documents. The mortgage servicers are making the decisions which is a joke. I know people are frustrated with Rust but they are only the middle man, they are waiting on the servicers and the occ to finish up what they have to do so Rust can send the payments. If you think you are entitled to $125,000 just remember that may be the amount but it wont be the final amount after the deductions from the servicer are made. That also includes in amounts less than that, everything will not be so cut and dry. I do think we should look into pursuing the banks and the occ even further when this is all said and done.

  141. @ Matt, yes WOW is right!!! I couldn’t agree more, it is absurd to me that the Banks have ANYTHING to do with this entire review. They have had over 2 years to doctor files and present their side to each home they forclosed on. Now they are the same people categorizing OUR situations in this “Waterfall” and we have no recourse to how the Bank portrays ‘us’ the people who lost our homes!

    It is also infuriating that they are going to reduce these payments by THEIR fees and back payments. What a joke! I was already 1099′d for the difference between what the bank got for my house and the remaining mortgage amount. I did a DIL and when I read what they sold my house for, after months of begging them to just modify the terms of my loan so I could afford the monthly payments, without so much as a written response.

  142. @Unknown from Ohio. That is a interesting point you raised. So if people received a 1099 after the sale of their home then I would think they would be exempt from fees. That is worth looking into and fighting. That would not be right to give out 1099′s and then take away fees from your review payment. That is double dipping.

  143. Well we all know these banks are not above double dipping! LOL I must also note that because it was my private residence, I did not have to claim the money as income on my taxes, however the bank already claimed it as a loss in 2011 therefore, I have to imagine any fees they reduce my payments by would be due to the Government, right?

  144. Good Morning Friends ~ I have been reading everyone’s comments & my heart fell into my stomach. I can’t not believe that the IFR, OCC and who ever else that is involved with this is allowing these banks to rape us once again! Yes I know I just sounded a little harsh but my lord this sh*t needs to end! We all know that our politicians get kick backs from endorsing banks and corporations. So, let me get this straight: Money will be deducted from our settlements that are rightfully owed to us because of fee’s, taxes and whatever else these freaking banks feel like charging us? So, my friends, I am afraid that after this is all said and done, we will walk away with pennies on the dollar. Let’s get this Facebook page up and running and lets get our voices heard!

  145. I think we may be deluding ourselves if we think we will see any money be disbursed by mid April. The nature of this entire program has been to delay, delay, delay. I cannot believe that government regulators allowed the banks to handpick the reviewing firms without being aware of the apparent conflict of interest. Are they really that inept or was it done by design? Would they really waste $2 billion reviewing these cases without one ever being paid? I continue to believe that it was a ploy to buy time to resuscitate the books of the banks so that everything didn’t meltdown.
    Will we get any compensation? I seriously doubt it when I see that fine print about past due real estate taxes and payments are to be deducted.
    After all the misery that losing a house, a job and family can cause I no longer believe in anything.

  146. I short sold my property for pennies on a dollar. I lost a lot of time and money and sleepless nights over the multiple calls I recieved from WF. However, I never gave up and selling my property no matter the loss was the best decision I could have ever made

    My advice to you guys is…..1-get a good accountant and amend your tax return for the year you lost/sold the property 2-Find a realtor well versed in short sales if you still have your property.

    Please go back and read the settlement information for yourself instead of relying on these Message Boards.

    Good Luck to you all…..

  147. We fought hard for 18 months to keep our home and were told by littion that a modification was underway. Pay…don’t pay, send and re-send documents and they slapped a forclosure notice on our door 4 times. I called them everyday for 18 months and documented everytime, who I spoke with and what they said. Eventually I saw how people were getting thrown on the streets by these banks so we decided to move out and do a short sale.
    The home was 289k in 2007 when we purchased it, assessed at 305k. By late 2009, after I completely landscaped it (it was new home) for 2 1/2 years, it was sold at 170k.
    Now I have moved back to my home state and we are doing great, except that we had a subprime mortgage and the second lender agreed to 6200 in the short sale but they will not discharge the 55k we owe. It continues to remain on our credit as open and we are behind 50 months. I refuse to pay for a home we dont even have.
    We lost the home becuse my husband had heart problems and was on disability. The doctor told him it was his high stress job. He later got a different job that payed considerably less. My job helped us out 2 times to help save our home. Having two small children, we couldn’t risk it. We ended up renting a home for almost as much as mortgage and we never late and paid in cash ever since. We got so behind from the lender telling us we had to be late 90 days to qualify for a modification. It was impossible to catch up.
    There is no amount of money that will ever compensate for the damage that they have done to any of us. The sleepless nights, the constant worry, the stress, the damage to your relationships, depression…. So much for the American Dream!
    I agree that I wish this damn card never came in the mail, just send a chek and be done with it. Its like all those old feelings of the worse time of our lives has come back to haunt us…

  148. @RacheK I had a 1st & 2nd mortgage and I got divorced in ’08 and bought another property ’08/’09 which I also lost. That’s why I have 3.

    I have done a lot of research on this topic and do believe they will distribute the $3B. Here’s why. They banks are sill getting over on us because there is another $5.8B that is supposed to go to foreclosure relief. Let’s be real, if you were fighting foreclosure in ’09 your home is LONG GONE by now. So the fine print is the banks must spend the $5.8B in “community projects” aka, they will set up a non profit and funnel the $$ back into their pockets.

    So they pay $3B and save $5.8B…Not bad for the banks!!

  149. I would like to understand how they can take the fees out of the settlement check if I dont live in the house anymore, and its been purchased by someone else. Isn’t that part of the duty of the PMI that I was paying on Now, if I was still in my home, I could understand the fees, but they took the home and I have a foreclosure on my credit. Not only that, some of us would end up “owing” money if you add up all the fees and only end up getting a $250 check. That sounds fishy. Something is wrong with that

  150. Hi everyone, the old framework is completely void. They will be putting everyone in a category and the amount you get will be determined by the category you fall under. SARC the military personnel who were foreclosed on will all automatically get $125,000.00 and anyone foreclosed on when they were not in default. All the other categories are not determined. If you listen to this 60 minute audio that came out in March just before the post cards when out it explains quite a bit. They are not looking at anyones files or financial harm. If you were foreclosed on while in bankruptcy everyone that had the same scenario will fall under the same category and get the predetermined amount for that category. There will be no fees calculated, who spent what when. It will all be on how much your category pays. Listen to the audio it is very informative. It also has a question answering session. Here is the link https://www.stlouisfed.org/bsr/connectingcommunities/index.cfm?proc=showall it is the second line. I hope it helps, it helped me understand. I still don’t know how much I will get though.

  151. May sound fishy that they would take fees..but you better read the fine print…it specifically states if AT TIME OF FORECLOSURE, YOU WERE BEHIND ON PAYMENTS, TAXES OR INSURANCE THAT WAS PAID ON YOUR BEHALF, THE SERVICER WILL DEDUCT THAT AMOUNT FROM THE REMEDIATION PAYMENT…BASICALLY, THEY ARE GETTING ALL THE MONEY BACK IN FEES…

  152. Instead of facebook, why not set up a yahoo groups page? That way, a moderator has to approve everyone who comes into the group. That way the rest of the world, family, friends, enemies, people you work with won’t have access to your personal business. We kept our problems to ourselves and our family doesn’t know. My idiot sister suspects and told other people, but no one else. I’d just rather keep it private.

  153. @Matt, now we know why the servicers jumped at the chance to settle, they are putting money in and getting money out of it as well. Any unclaimed money probably will go back to the banks, otherwise the Govt would have to justify keeping it. Its all very shady.

  154. They settled because they KNEW they would be paying out WAY more than the total settlement amount AND they are going to profit BIG TIME on the credits they will get every time they do a modification now. This whole situation is heart breaking for so many families, mine included. I am a single mom of 2 and was so proud of myself for being able to purchase a home on my own after my divorce only to have it taken from me 4 years later. I was laid off from my job of 10.5 yrs and tried everything to get a modification with PNC Mortgage but ultimately gave up after battling so long and getting nowhere. I lost my home and had to uproot my children and lost any sense of pride I had! There is NO amount of money they could give that would ever make up for the loss!

  155. Hello to All:

    I also received a postcard from Rust
    Consulting/Bank of America awaiting
    settlement, amount not known. My
    understanding is that our legal rights
    will not be waived to pursue litigation.
    I would like to propose a class-action
    lawsuit. We are not being compensated
    enough for the fraud, robo-signing, illegal
    activity of these too big to fail banks.
    They stripped our home equity, devalued
    our homes and may have not even had
    the legal right to foreclose without proper
    chain of title. The emotional distress
    is not being compensated. As a senior
    would this constitute as Elder Abuse?

  156. How could they possibly calculate correct, they announce the banks can deduct, late fees, taxes ect. if they aren’t taking into account (Bank charged 15,000.00 over charge, bank say don’t make pmt then charge much larger pmt than what original pmt was?, the banks don’t show larger pmt made on credit report?, the banks only will agree to sell home for 70,000 less than what it’s worth? then deny modification) Wells fargo obviously profited from having myself and 3 kids move out than granting a promised Mod, over and over again.
    List of the banks screw ups go on and on….Wells Fargo 18 years.
    That’s why they need a TRUE & HONEST independent review

  157. @Tess…great Link!! It shows that we were all correct….all us “non military” are going to get peanuts.. cause it’s all going to those 300 servicemen…hmmm..what WILL I do with my whopping check for 169 dollars?? We went throught the same as hell as they did, but we’ll last on the list….ho humm…

  158. @robdagain
    Yeah poor service members serving a million miles away protecting us who didn’t save for a rainy day because we wanted way more house than we could afford …sitting on our fat asses complaining about the entitlements Obama is handing out.

    ….and I am not a troll. I have posted here before but I draw the line at your selfishness.

  159. Life is Funny, back in the 80′s when we tried to buy a home, we had good jobs and good credit, However, we (blacks) could not get a mortgage. Now fast forward to the subprime area, and me and my dog could get a mortgage. But what we got was the worst ones…I got behind in my payments and contacted WF and they started spinning my send this, “we’ll help you, send that, we’ll help you. I was working with them for 2 years, even had a 3 month HAMP trial modication, that lasted 6 months at $2,000.00. But still did’nt get a modification and still lost my home. Now there are the IFR and the NMS ($840). The Mortgage Companies are still going to Make Out…….Just mailed the checks already, I want my $125,000 and my $840.00…LOL

  160. Well I’m ready to receive my money. For all the stress they put us through and at the end of the day still foreclosed on us. I really don’t know about you guys but my wife and I will be suing the mortgage company. It stress my wife so she wound up with a tumor and the doctor said it came from stress. Cheng cheng cheng J P Morgan pay up now n later thank you

  161. The servicemen were also wrongfully foreclosed on. The only difference is they are protected by SCRA’s, and should be. I am not expecting a big pay out because I was able to do a short sale. I am sure everyone believes they are entitled to 125,000 and some will get it (not just the military). Howerver, with what I read (fine print) no one will actually walk away with the said check amounts. Servicers get to recoup any loss fees, taxes, etc.. prior to foreclosure, and short sales. No matter how you slice it this payout is not going to be fair for anyone, military or not.

  162. I’ve been reading all these posts and what started out as people with a common issue telling their story and being compassionate to the other’s stories, but it has turned into a blog of pure selfishness and greed. I’m shocked that some are begrudging service members who fought for our and our family’s freedom getting the most money. I was in the National Guard for 26 years and although I didnt have to serve overseas I have friends who did and I know the strain it put on their wife and children that they had to leave behind. I can only imagine what it was like to be fighting thousands of miles from home when your family is being kicked out of their home. And then the talk of all these lawsuits four and fives years after the fact – why now? And a tumor caused by stress —- really???? Our family lost our home too and I feel I deserve a piece of the pie, but all this ugliness in not going to change the amount of the check, or when we get it. No figures have been given, but some of you are predicting the worst and getting others all riled up over something that may or may not happen – a form of the mob mentality. Personally I’m praying and expecting a large check – if we get it it will be a new beginning for my family, but if we only get $100 then it is $100 more than we have now. I felt a connection to everyone in the beginning, but now I want no part of this. Something to think about – you get back what you put out.

  163. My husband and I owned our home for 16yrs….when the economy went south we asked for a re-fi but were denied….then we were set up on a hardship payment plan…which worked well….until we found out that Beneficial sold to HSBC and all of their policies changed (without warning)…We were told that our payments were behind and that we no longer qualified for the reduced monthly payments…..We were sent nasty, threatening letters and told we would be foreclosed on if we didn’t come up w a huge amount of $$ to “catch us back up”….Here’s where it gets bad….Every time that we would receive any paperwork from HSBC…it would have our names and someone elses name on it. ….and I wasn’t always even the same “unknown” name….also, the account numbers were never the same! When we would call in to speak to someone about the matter…they could never find us…except by using my husband’s ss#…..and then…non of the info was correct! Anyways….after the foreclosure papers were served, as we were moving things out of the home….the real estate company (hired by HSBC) to come and get the house ready for the sheriff’s auction …actually broke into our home via a bedroom window…some 5 days before the date that we had to be out. (we had already moved out…but were going daily to grab some of the smaller boxes) They changed all of the locks and tore the house (which was technically still ours) up! Its was devastating, to say the least! I called the local sheriff’s department and the incident was fully documented and pictures were taken. The judge in charge of the foreclosure hearing actually postponed the hearing, because of this, and demanded that the company (HSBC) send a representative from the company to the proceeding. They still took our home….but they were inconvienienced …so that made it a bit better. We contacted a lawyer regarding the matter, but were told that we were just small people and they were big people w big lawyers. So we didn’t bother. I have no clue as to where we will fall in the payment plan…..Money is nice, but at this point, I am just happy to know that they are being made to “think twice”, before taking advantage of anyone in the future.

  164. I listened to the 60 minute audio tape. But I have no idea what category I fall in. It looks like there are 4 main ones.

    1. Millitary SCRA Violations
    2. Foreclosed In Bankrupcy
    3. Denied Loan Mod.
    4. Never Received A Loan Mod.

    What is the fine print and what are the exact pay outs?

    I hope people post when they get a check on here.

  165. I Think, all things are brouhaha!
    They send me letter that i was excluded in the entire process therefore i wouldn’t qualified for anything.. meaning i get zero.

  166. I don’t think anyone has received a check yet. Someone also posted on here that after contacting Rust payments will begin in April but the final batch of checks may not go out until June. Delay, delay.

  167. I also recieved the post card and it said I was going to be recieving a payment as well but everytime I call to find out what category I fell under they say they can not provide that info??? So I guess my question is How do you know what category they put you under and what is the payment amount?

  168. I spoke with Rust Consulting this morning and basically got the script read to me. I stopped the gentleman and said I have heard that before. I asked if he could tell me what category I was in and again he started to read another script which I stopped in. He said obviously you have heard all of this before and I said yes and he said you know I am reading a script and I said yes. He said all he can say is checks will be out from mid april through mid june.
    Has anyone found out anything different today?

  169. I agree Matt…where is our checks, but somehow I have the feeling there will be no checks. This is all too secretive and too many loop holes.

  170. I think it will happen. The OCC promised a quick payout and I don’t think they want any more backlash then what they are already getting. As far as payouts go I don’t expect much. I think that is going to be the kicker, we get checks in the next couple of weeks, but nowwhere near the amount we were hoping. Any insight as to what the payment threshold would be for having taxes taken out? Im curious about the taxes.

  171. I still don’t understand why we need to pay taxes on money that was robbed from us. Why don’t the banks the real crooks here pay our taxes? Not expecting much here, but on the other hand i don’t agree to continue paying for something that was not our fault.

  172. If you haven’t joined the foreclosure forum, you should. It is an easier way to keep up, plus members are posting any article they find that is even a little informational. The address is:
    foreclosurevictims.freeforums.org

  173. I called rust and they know nothing…lol it was almost like they were hiding something…wtf is the point of having a call center if there no sense in calling…VERY CONFUSING TO SAY THE LEAST…LOL

  174. Matt…they are reading off of a script. The guy I talked to today said to me “”you know then I am reading off a script” when I told him to save his breath that I had heard it before. I am getting very discouraged by all of this. I don’t think these employees have a clue what is going and were just hired to read off the script. Another thing that I thought was unique is a coworker is dealing with the same thing. I am with HSBC and she is through Citi. We both were given different numbers to call into directly to people at Rust, but amazingly we both talked to the same guy today by the name of Hosea. We then called in right after each other and had it on speaker phone and it was same guy. These people are not dedicated to our mortgage servers they are answering all the calls and just want us to think they have dedicated people for each server. Another way that we are made to look like fools by these people. I have my doubts that we will get anything at all.

  175. Rust probably hired some people to set up the call center. I have worked for a Call Center before and you are only able to see the contact information screen and whatever script you go by. I would be alarmed if I thought that any Joe smoe had private information regarding my payout or anything else. They have to keep it confidential or they would have people (thieves) running all around collecting our checks in our mail boxes. Blame the banks blame OCC but its not the employees at Rust or better yet contracted by Rust. By the way I don’t work for Rust! I have just worked in a call center setting and that is the way they are usually set up.

  176. If you don’t recieve payment in April it might be a good sighn$$$$.. June is the big money month…..

  177. Found this article. This quote in the article just proves that nothing will be the same across the board. If I am reading this correctly if you say for instance have a loan with BOA and were a category 3 and a Category 3 with Wells Fargo, they payout is not quaranteed to be the same? Then whats the point of the framework, whats the point of this process? This is the quote, please go read the article.

    “there is no assurance of consistency in payments by the various servicers for the same harm”

    http://www.forbes.com/sites/francinemckenna/2013/01/08/settling-the-foreclosure-reviews-winners-and-losers/

    The only good thing that could come from this is by the wording of this article and my earlier thoughts we are being paid via our servicer, and not one big pot. That could help make the award payout larger for individuals.

  178. Payments will start going out on Friday 04/12/2013, check the Federal reserve website they also have the payment amount details listed as of today.

  179. @Unknown, thank you for the updated site. Of course I still am not sure where I fit into that. I would assume that since they released that today, checks must be going out soon.

  180. @Anne, they are starting to send out the first batch this Friday. It is posted on the Federal Reserve’s website.

  181. Called Rust Consulting this morning and they have not updated their scripts…still saying the same information from last week

  182. Hello, I have a question if anyone has an answer or advice…what category would you fall under if you tried to short sale your home and were denied by the bank (bank of America) on 3 separate occasions? I had three contracts in on my home. Of course, they tried to say they did not receive paperwork and then they flat out denied the contracts? Thanks and I am thinking of everyone and hoping that everyone can get the compensation that they rightfully deserve from all of this mess.

  183. @KP what was the final outcome? Were you denied? Did it result in foreclosure or eventually short sale? I know we did a short sale but it was after we met the requirements of the trial modification and then they failed to convert us so we had to short sale.

  184. Hi, is there anyone on here who did NOT lose their home? We didn’t, but the original information said the banks would have to pay back foreclosure fees paid inappropriately, in addition to the payout of whatever category you fall into. Does anyone know if this still applies?

  185. @Tamalee, I think the extra fees may have been considered the lost equity, in which case I think only the top 2 or 3rd category will get that.

  186. @Anne, unfortunately I think you are probably right. It’s a shame the banks aren’t being held accountable. Even the people who have been through the worst of it aren’t getting anywhere near what they deserve. I hope everyone involved in all this horrible mess will be able to move on and have some peace in their lives. My heart goes out to all the people in the forum who have shared such sad stories… Especially people with children who were abruptly kicked out of their homes. It’s truly unfathomable that these kinds of things happen, whilst the banks just keep making more money. God bless all of you folks and I pray for peace and happiness for your futures. So many of your stories have brought tears to my eyes. Best wishes to you all.

  187. After reading the new waterfall amounts listed on the OCC website dated today 4/9- Am I reading this correctly that if you requested a review for some of the payout amounts your amount is listed as higher because you actually requested the review? Specifically- in the section entitled ‘all other loans’ and ‘services did not engage with borrower …etc’

    Am I correct when I understand this to mean that if you actually requested the review you will be compensated at a higher amount??

    Sorry I’m on iPad…

  188. I think I read this but can’t find it. Is it possible to be in more than 1 category, or were we put in only 1.

  189. Ok thanks Kim. I guess it’s good that I did request a review then. Hopefully I get a little bit more but I really have no idea where they will group me. My house was foreclosed on in 2009. I tried calling to get a loan modification over the phone and was instructed as others that I had to actually go into default before anything could be done so I too stopped making payments. I phoned a few other times after I went into default and was basically denied any sort of assistance or a mod over the phone.

  190. Ok thanks Kim. I guess it’s good that I did request a review then. Hopefully I get a little bit more but I really have no idea where they will group me. My house was foreclosed on in 2009. I tried calling to get a loan modification over the phone and was instructed as others that I had to actually go into default before anything could be done so I too stopped making payments. I phoned a few other times after I went into default and was basically denied any sort of assistance or a mod over the phone

  191. @Anne…it resulted in foreclosure…they denied me three times for a short sale…i had three offers and they denied all three and then foreclosed. Prior to the short sale attempt, I applied for a loan modification and they reduced my mortgage $70 per month. Unfortunately, I still was not able to afford the monthly payments, so I tried for an additional modification and was denied as well and that is why I tried to short sale and was denied three times and was turned down by Bank of America…which resulted in foreclosure :(. So I was just wondering in what category I may be placed? Thanks Anne.

  192. @KP, Its tough to figure out, I still am not sure what category I am in. I actually could fall in more than one category. I think you would range from 500-2000. I recieved a modification but they never trasferred me over to a permanent modifcation after I completed the trial period. I ended up doing a short sale instead of foreclosure.

  193. So I am interested in how we could start a class action lawsuit against our bank. These amounts are such a slap in the face. I have nothing against military but they are the only ones being compensated! Everyone else just got F***** over!! That new payment schedule is horrible. How are they going to know what we should be compensated if they didn’t review our case??? Lemme guess, they drew names right?

    This whole thing makes me never want to but a house again! BUT, guess what we have no choice because rent is awful here. Oh and lets not forget the new private mortgage insurance law they just passed for all FHA loans will be for the life of the loan for everyone and the % went up on that.

    Now they are really screwing us over.

  194. @KP – from my understanding of an article I read a few days ago – you will only be compensation at the higher catagories. Who knows how they have it, but I think I fall into the catagory of being foreclosed on while in bankrupcy and I was also never offered a modification. If all this is correct I will be paid for the higher one and forfiet the big $300. It was unclear to me if we fall under two $300 payouts. Nothing is completely clear — other than us getting screwed.

  195. I have just found this forum and it’s good to see that I’m not alone on the confusion surrounding where we might fall in those categories. When I got my card from Rust I didn’t bother to call until the new publication of payouts was released yesterday. I know I filed the paperwork to have my foreclosure reviewed so I called Rust to make sure that my case reflected that fact. Rust told me they have no record of my asking for the review…grrrr…so I planned to fly back home and get the paperwork out of my safe deposit box…when I mentioned this to Rust they told me “don’t bother we won’t even look at it”!! I’ve seen many posts where people are frustrated by this settlement, I now am seeing why they are.

  196. @ Carol, I think you are right its one or the other. I still can’t figure mine out so I guess I will wait and see. Plus they don’t list anything pertaining to short sales. I guess you have to go by what happened before the short sale?

  197. Way back in Oct of 2009 I received a HAMP Trial Modification through WF. This is when HAMP was just being initiated. I did my 3 trial payments (actually 4 ), then called to get it transferred into a perm. mod. and they denied me. Since my situation happened over 3 years ago im not sure how they will get me into the $50,000 category of being denied a perm. mod. after completing my 3 trial payments. I filled all the paperwork out 2 years ago for the IFR, so i do qualify for “double” the compensation. How did they determine that??? By my IFR file number they gave me??? Did the banks actually read some of the reviews so they knew who got doubled compensation and what category they would put us under?? Like alot of people it makes sense where I should be as far as category but really will they follow through. Good Luck everybody!!

  198. I do believe in God and Karma. As far as I am concerning no one will get what they rightly deserve. Will they clear our credit records. I am just now building my credit back. The foreclosure was a nightmare. The mortgage company was a nightmare. Good Luck to everybody peace

  199. Just completed watching the live stream meeting Elizabeth Warren had with those wonderful “consultants” that got paid TWO BILLION DOLLARS to review and determine harm for those of us who were foreclosed on. The final point that Ms. Warren made was the fact that the banks WHO COMMITTED THE CRIMES ultimately were the ones who decided WHO was harmed, and HOW MUCH they are going to be compensated – not these wonderful consultants that walked away with TWO BILLION DOLLARS. Ms. Warren made it absolutely clear the she SEES that the consultants got TWO BILLION DOLLARS for producing NOTHING – and that those criminals (the Banks) pulled off one of the biggest coups this country has ever seen. Mass should be proud of Senator Warren – now that she has these admissions on record, I’ll enjoy watching her next move…..

  200. I’m not sure where I fall either. We requested a loan mod and, at first, was told that we don’t qualify and then after numerous requests, were told that they sent one out, but since we didn’t fill out the “necessary paperwork”, it wasn’t approved. I told them we never received it because we would have definitely been interested, but then found out that the loan mod that they said that they offered would have actually RAISED our monthly payment!!! So, would we fall under loan mod denied, approved or never offered???

  201. @brileyrac, the banks should have been forced to put an extra two billion into the pot. Had they done that maybe our payouts would have been higher and we would not be so angry. Now it looks like they are going to get sued again by us. I know once a class action suit is available I am on board! The worst of it is there is no way they have completed all of the reviews or even looked at all of them so I don’t know how the banks are able to determine harm.

  202. The “robots” they have working the “call center” are a bunch of incompetent jerks! How hard is it to answer one simple question?
    All I need and want to know is ON WHAT DATE do they use for the matrix? I understand that this is for any one who was in any stage of foreclosure in 2009 and 2010… but in 2010 my parents were in one stage of foreclosure, in 2011 another stage, and then in 2012 yet another stage. If they use the 2010 date, then my parents will get the minimum amount. If they use the 2011 it will be a higher amount, then in 2012 they will use an even higher amount. Yet noone there can tell me this, and apparently the Fed Reserve and the OCC wont say either. What a bunch of garbage.

  203. @Tina, these categories are so hard to figure out. But if you did not recieve the modification they only told you about it verbally then I would think it be never offered. I do wonder how its considered a modification that raises the payment. That is what happened to us. We had to do a 3 month loan modification and they raised our payment. Then they never converted us after the 3 months were over and we could not keep making the higher payment. The higher payment was almost 700.00 more than our normal mortgage payment. I thought modifying the loan was reducing the interest rate and or payment. I have not read anywhere that the modification lower their payment.

  204. Folks sorry if I don’t join the party ‘of its their fault that we agreed to these mortgages and something happened and now I can’t pay’. I was in the same boat as a lot of you and I asked for a modification while still current on my mortgage, however I was denied. I was told that I needed to be 3 months behind before I would even be considered for a mod. With that said, 1-I finally stopped making payments, but was very proactive through the whole process. 2-The months I did not make the payments, I had extra money in my budget, those of you complaining about an increase in with your mod, ‘what happened to those extra house payments that you didnt have to make for 3 months or 2 years?’

    I’m just as mad as the rest of you about the major crap big companies and banks are allowed to get away with…..but whatever we may get is more than what you had yesterday. I am suprised that they are even ‘handing’/’giving’ out cash.

    You better believe that there will be several classactions you can join from the fallout of these payments.

    Quit freaking complaining and running yourself crazy on what category you fall into, because you are setting yourself up for a letdown.

    And as far as the call center is concerned, they have one job to do and thats verify you will or wont get a check. They know no more than what they were given. I can imagine how many times they have been cursed out for a min. wage job.

    As stated a few days ago, I will post if and when I receive a check.

  205. BTW, I did a shortsale and got the WF monkey off my back and was able to sleep through the night.

  206. @Anne – For the loan mod that was “supposedly” offered, they weren’t changing the loan at all, they were simply putting our missed mortgage payments to the end of the loan and, in the process, somehow it raised our payment! So crazy!

  207. Former WF Customer,

    I totally agree with you! All the complaining and whining is getting old! I lost me house too and I’m living with my parents because I have no job and three kids! The past five years have been tough but it is what it is. You make the most of what you have and I am extremely grateful if I can even manage to get $300 out of this thing. If your $300 means nothing to you- as soo many people are saying- then please send it my way! I can use an extra $300 bucks! I’m just scraping by….. News of this settlement has been good news for me.

  208. To FormerWF – Laid off my job is what created my mess so how can someone have extra money if they didn’t have a job. I know in my situation what little extra I did have went to keeping the lights on and food on the table for my kids. I would have loved to have banked some money, although if I was proactive, I probably wouldn’t have been in the mess to begin with. No one questions you on how you ended up in Foreclosure sounds to me like you still had a job if you were able to be “proactive”. Every situation is different. People are voicing what happened but that doesn’t mean they have provided every detail so know one knows what another one truly went through. There is nothing wrong with complaining or venting if it makes the feel better. There are no rules on this board regarding complaining. If it bothers you that much why do you keep coming back and reading the posts.

    As far as Rust goes I completely agree they are probably contracted specifically for this job, and they can only see our contact information. As I stated before I would not want any payment I would receive to be known to just anyone answering the phone. I am glad they don’t give payment information over the phone, plus I am sure they don’t know it anyway!

  209. @ leave it alone… Thank you. Agreed whole heartedly. This website has provided a therapeutic outlet for many.

  210. Interesting note: I have a relative who works for a large bank here in Mass. Supervisors got staff together late yesterday informing staff that if a customer comes in Monday (or after) with a check from the IFR/OCC Rust payout, these funds WILL NOT be immediately released to the customer they will have a 14 day hold placed on them because the settlement payments are “suspect” and the bank will not expose themselves to uncollectable funds….WOW

  211. @Kim…I know!! I can only guess that they think these checks are going to bounce somehow and want the money from the gov’t before they let it out their door! Probably not a bad idea where this whole thing has been all secretive etc…

  212. @brileyrac, wow thank you for the update. Hopefully it will state that in the check somewhere so those who do not get this message will know about the possible hold.

  213. I think if you tried to just cash the check, you would have problems. Depositing though, the bank can’t just say the deposit is suspect…read Reg CC. Plus, they would have to give up to $5000 available the next day for large checks. If this were my bank, I would find another financial institution to do business. Not all banks are like this.

  214. What good is complaining doing you, except getting you all worked up? Theraputic?? Really???

    As I stated earlier, there will be class actions all over the place in fact I started getting stuff in the mail already (not sure how legit it is).

    Those of you that had a gun held to your head and signed those mortgages have already turned on the great men and women who serve our country….the ones that are gettting $125K

  215. Exactly we signed the loan docs! At least take some responsibility for your actions! I hope the people with this attitude don’t get a dime. Yeah I lost my job too but is it the banks fault that I lost my job?? hello! Wake up people….. I do agree there are some with legitimate issues but most of these stories are the same. It’s sad yes that we lost our homes but hopefully we won’t make the same mistake twice… If I’m able to buy again I know there are a lot of things I would do differently.

  216. @Mack…lol I don’t use the bank this relative works for …don’t want the “family” to know what I have (or don’t have) lol. I called my own bank and they said yes they would hold it for 3 business days but ONLY because it would be an “out of state” check…no big deal…I’ll probably donate my $300 to Make a Wish anyway…

  217. Wow… I didn’t lose my home… I am surprised at such bitterness and judgment coming from you guys. I have no ill will toward any of you, only sadness for those who have lost so much. And yes, this has been therapeutic for many who wanted to have their voices heard and share their heartaches with others. Regardless of whether a family lost their home or not the circumstances of financial struggle are painful regardless of why one went through it. I only hope, as I stated in previous posts, people can have peace and move forward in their lives.

  218. @brileyrac…On a related note I’m not quite sure I would like to have $62,500 (right!) check sitting in my mailbox all day without any forewarning it was coming. This is 2013, has anybody heard of EFT?

  219. @Mack…it would take them another 2 years to load in EFT information, and cost another billion dollars to do it LMAO!! Seriously though, I’m hoping the best for those seriously effected by this mess. I sued outside of the process and made out very well; my thoughts and prayers go out to all.

  220. I was a prime loan holder . Lost my job and immediately stopped paying the mortgage no more income so I have to buy the essentials now. Rented a cheap apartment changed phone no. and only respond to people by mail for business matters. Life is as stressful as you want to make it. If your dealt a big blow in life like not being able to pay for a home just find a place to rent or live with relatives. The good thing about all of this is you find out quick just how much it doesn’t have to belong to you . Material things around you can easily be lost or taken away from you but guess what look around you and pick another material thing you like and keep on keep on smiling cause the world is bountiful . I guarantee you will not find a better country to wait out a disaster . Thank god for the good ole USA economy and crazy things that happen and live to tell about.

  221. So I was in BK protection and made my 3 trial payments. This being said I guess I will get the standard $300?

  222. @Shane it depends. Were you in Chapter 7 or 13, and did you make all payments but they failed to convert you over?

  223. @Anne I was Chapter 13 but switched to Chapter 7 and I made all three payments and they failed to convert me. They auctioned my house to an investor while I was still living in it. We luckily saw the writing on the wall and had already secured a rental and were in the process of moving when the investor told us the house had been sold. We never recieved anything with a date from Aurora Home Loans. The investor then sold the house in under 30 days. I guess that portion was illegal as well. Anyway I am waiting for my $300 that the govt will take $150 of…….

  224. @Shane, In Chapter 13 the bank is not supposed to be able to take the home away. Chapter 7 however is essentially handing the home over to the banks. Have you checked your credit report lately? It appears they are starting to correct or remove the foreclosures. I checked mine and found that all 3 of my reports no longer have the short sale on them. I really have given up on speculating what my portion of the payout will be, but I am very happy about my credit report. In case you are not aware of it you can go to annualcreditreport.com and get your reports for free once a year!

  225. Ok, I the lighter side I just finished watching 20/20. There was a segment on “Adverse Possessions”. This is apparently legal in all 50 states. If a house has been vacated by foreclosure you can move in change the locks, and go the court house and file a “adverse possession claim” if no one claims the home you own it for free in 7 years. Crazy! LOL. Of course you have to pay the taxes, and utilities.

  226. Does anyone know what the “from name” on the check will be? – Will it say Bank of America, Chase, Rust Consulting, OCC, etc? Thanks if anyone has a notion.

  227. Food for thought: If we don’t get the amount we should have gotten lets send a bill to the OCC. Seriously – make a copy of your records showing where you fell in the catogories – make up an invoice showing what you were due minus what you were sent and net out the balance due. Tell them you expect the balance to be sent to you in that last “wave” in July. LOL I know all payments are “final” but hey, Brown & Warren may actually make them look at this situation again, and the occ will already have your balance due!! Wouldn’t hurt to send a copy to Senators Brown and Warren as well???

  228. For those of you that have had your credit reports corrected, were you also included in the National Mortgage settlement?

  229. @birelyrac, that is a good idea, however I don’t think the OCC can go after the banks again for more money. Once the settlement was agreed on and paid it ended there. They may do investigations, but there won’t be anymore money unless you personally sue your servicer.

  230. @Ann – I was indeed part of the nat’l mrg settlement – expect around $1,000. from them in June – but I don’t get the connection between the nat’l settlement & credit reports. @Unknown-LOL they’d love to get the money back!! I’m thinking I’ll get $300, even though I fit in a category that pays much higher – and if I’m right- I’ll send my $300 to Make a Wish.@Anne-you are right, the OCC was working WITH the banks, not us, and they’d never go back for more from their buddies. But it would be just plain satisfying to send them a bill, lol

  231. @brileyrac, I was wondering what I could do (to benefit others) with my check since I also fit into a larger category but am not expecting much. Make a Wish is a great idea and I think that is what I will do with my payout.

  232. @brileyrac- Correcting credit reports was included in the judgement of the National Mortgage settlement (posted on the internet). When I checked my credit report recently, it had not been corrected yet so I was just checking to make sure that the corrections weren’t a result of this settlement which I was not included in. I’ll check my report again in a month. Currently, my report doesn’t reflect any of the payments that BAC had me send via Western Union. During this time when I wiring these payments every month is when I was served with the foreclosure papers.

  233. @Ann…I had no idea that was part of the National settlement. I looked on the internet but couldn’t find that so if you have a link let me know?? I know what you mean about payments you made not being acknowledged!! My ch 13 trustee was making the payments as part of my plan and the servicer tried telling the trustee they didn’t make payments..OMG how stupid could the servicer BE??? We won, they lost. So my category should be servicer initiated foreclosure when not in default $5000. but I still bet it will only be $300, lol

  234. I did the ” trial mod ” that kept getting renewed !!! after 3rd. time loan was sold to servicer who didn’t honor trial mod then they raised my payment to double what i was paying and then told me not to send in payments cause they would only return them!! smh

  235. Just read on another website that some have received checks! It’s crazy! Also I read that someone with a higher dollar amount check was notified that their check would be arriving via fed ex and they would have to sign for it. Has anyone here received anything?? I guess since I I’d not receive notification that my check will be one of the lower dollar amounts. This whole thing is really sad. Arghhhh

  236. @Michelle – what was the website?? Thanks for the update!! I don’t navigate the internet that well so it’s really nice that you updated us on here!! I didn’t get anything today – but love hearing that some people have!!

  237. @brileyrac- If you go on the national mortgage settlement website you can click on your banks consent order but then you have to scroll down past all the signatures (about 60 pages) to get to exhibit a. But I dont remember it being so difficult to find the last time. I was on the website over a month ago and when I clicked on bac it took me right to the agreement. I also recall reading in the order that any corrective actions ie offering refinancing, modifications etc had to be extended to consumers who were foreclosed on but whose homes did not yet go to sheriff’s sale. I couldnt find that section just now when I reviewed the order. It might have been under a specific state. I dont remember but the credit reference is there.

  238. FYI! You can call Rust and they will tell you if your payment as been sent. I called and mine has NOT been mailed yet.

  239. Just got off the phone with Rust and verified my payment was not been mailed out yet, but at least I was able to verify I will be receiving something. Rep I talked to also said payments will go through August 2013, so all she could say is I would receive it between now and then. Good luck everyone !!

  240. @Tv, that was my first reaction too! However it seems the lower payouts have gone out first so I may be getting more than the $500.00 originally thought.

    @Michelle can you post the thread. I found the site but can’t seem to find the thread. Thank you!

  241. I am in MI and my check has not been mailed. I have no idea what category I will be in. I declared BK but that is because I could never get any kind of straight answer out of BofA. Never any loan mod offers, never got an accurate status of my many short sale attempts. At the time they issued a moratorium on foreclosures so I feared I would have this worthless house haunting me forever. BofA really is the worst.

  242. Called Rust Consulting. Said my check was not mailed yet. I spoke to Linda. She said the longer you wait the more you will get. The 1st wave did ship out on Friday. So to all those that are waiting, myself included it MAY be a good thing. In my case they probably forgot to send mine and its 500…LOL. Dont know how reliable Linda at Rust is though. She was an older sounding lady? Just thought i would share for whatever its worth.

  243. I too called Rust and got a man whom I had trouble understanding but he did say “check no sent to yous Friday, maybe soon okeee” This is going to be a long drawn out process I think

  244. Yes, that is awful, 2 bombs went off. Some of the pictures are pretty gruesome, prayers sent their way.

    By the way, people are trying to cash their payout checks and when their bank calls to verify funds they are being told there are no funds.

  245. @Jim, yes quite a few people have taken their check to the bank and had the teller call the bank on the check to verify funds. The bank teller’s at the bank where the check is drawn off of is stating there are zero funds in that account!

  246. I thought that this was SUPPOSE to be completely funded? Some others have posted that they cashed their checks at a Walmart in Florida. Dont know if thats true but thats what they said. Well since theres a funding issue i’ll probably get 125,000. I just cant cash it.

  247. That is what I read. I can also say that it may be different if you deposit the check. Maybe for security purposes the checks can only be deposited and not cashed. I don’t have a check yet so I can’t say for sure, I just wanted to let people know that there may be a problem cashing it.

  248. @Jim you should join on group so you can let everyone know what the lady told you today from Rust..very interesting I am part of a Face book group called “Class action group for IFR vicitims there is now 250 members in our group.

  249. If you would unblock me from free forums, I would sign your petition for a class action suit…btw, my check was $800…not nearly enough to make up for losing my home…

  250. @Jim – love your sense of humor “will get 125K because it can’t be cashed”…lol I needed that!! Too funny!! I’m getting frustrated too – with Rust. Yes Rust is actually upsetting me more than my servicer ever did!! Rust’s reps are rude simply because I ask questions. I’m sorry folks, but I believe they know when the next check run is going to be. We aren’t asking them for freakin launch codes for crying out loud!! I wonder how much money, from OUR settlement, that these rude people are getting for their lack of knowledge and rudeness?

  251. @brileyrac
    Thanks. A bit of humor does us good sometimes. If i may make a suggestion. When i use to call Rust and after giving them all my info. and first born would tell me absolutely nothing, which they do to everybody. But when i call now and go through their 3 mins. of nonsense before you speak to a rep they ask may i help you. They are looking for specific questions. So i just say Hay i was wondering what you could tell me about my account thats not scripted. I have found little tid bits here and there.

    I AGREE that is is just so frustrating to try to pry information out of people that should be given freely considering it is our money,which is a joke within itself. Truly no amount of money could compensate people for what they have gone through. Some of these stories make you want to cry. So @brileyrac you are absolutely right, its is beyond Frustrating. But hay after all what do we have to worry about we have OCC, and the Feds on OUR side ( Insert MAJOR sarcasm here plz )

  252. @Jim…I will try that approach at todays 3 p.m. call.. The thing that keeps nagging at me is that 10%. I’ve read, in several articles, that 90% will be mailed by April’s end…makes me wonder what is so special/different about that last 10%…hmmmm

  253. @brileyrac……I have heard different things about the last 10%. While i have NO verifiable knowledge of anything, i have heard the Larger payments will be made later. Again i have NO verifiable knowledge of this but it does make sense to me. They get to hold onto that money a few months longer. If this was Truly a compensation package for the people that were damaged ALL payments could/should have been sent at the same time.

    I realize thats 4.2 million checks,but they have had plenty of time and resources to get this done in an expeditious way. Just MY thoughts.

  254. @Jim…I agree, all checks, and I mean ALL, should be shipped out by the end of April, and whereas they aren’t, it sure looks underhanded and sneaky, but then again, this whole thing has been underhanded and sneaky.

  255. Maybe its actually a Good thing, with the OCC, Federal Reserve, IFR. This yet furthers the cause on how the system failed, but failed miserably to all that were involved in this fiasco. Hopefully as outrage continues, pressure from Senators, and the mainstream media picks up on this Something more positive will come from all this. You cant put a price on everything that has happened to people, But payments starting at 300.00 surely isnt a way to start. Its only the beginning.

  256. Which state is the check being mailed from? Is there any proof that the smaller amount checks are being mailed out first?

  257. @Tina, the post card is from MN so I would guess that is where they are coming from. As far as what is being mailed first. There is no proof but the majority of the people from several different forums have ranged in their checks from $300.00 – $6000.00. I agree with the above posts they are going to hang on to the higher amounts as long as possible. Rust has to get paid for their part in this. I would assume any interest from the bank with the funds in it is their payment.

  258. I have a question. I had a first and a second mortgage on my home. First through BOA, second through Citi Mortgage…does this mean that since both of these mortgage lenders are included in the settlement that I will receive payment from both lenders depending what category I fall into? I only got one post card and it was for my loan with BOA. I did not get a postcard for Citi Mortgage.

  259. Well, I just called BofA directly at 800-669-6607.

    I was by the first rep that my house was still processing foreclosure (WRONG) and that it was being held.
    I informed him that through the register of deeds there was a sheriff’s deed for the home and that through the city assessment there is another owner. So he transferred me to the REO dept. She said that is was complete but because it was VA it was prob sold to vendor and still shows processing. (WTF) I said so this could put me into a totally different bracket. I filed for bankruptcy before I was behind, they were suppose to modify, never did and before my bankruptcy was discharged had the sheriff’s sale. Can’t remember if they had the stay lifted. However, it’s showing processing??? F-ers.

    All in all, she couldn’t inform me of when I will get my check or how much, just to call Rust Consulting. (WHATEVER) We see how far that’s gotten everyong else.

    BEST OF LUCK TO YOU ALL,

    I’m not holding my breath

  260. I don’t see anything mentioned in the new framework updated in April as to updating credit reports and mine hasn’t been updated yet. If they are doing that, I wonder how long they have to get that part of it done? Also, no check here yet….

  261. Hang in there folks….Yesterday we received a check for $6000 …..We were absolutely shocked! Granted we had every penny coming to us and then some…but we figured that we would b lucky to see the $300……From the posts that I’ve read…No one has received any amount larger than the $6000. Hopefully…if u haven’t gotten your check yet…it’ll mean possibly a larger amount for u. Sometimes miracles do happen…do not lose hope! ;)

  262. I haven’t seen anything else in the mail from the post card sent back in March and all I hear is that im getting a check and it can be sent from now till aug. Been reading from everyone who has gotten a check they are ranging from 300-6000 and only read 1 person got that 6000 almost everyone getting 300-600. That makes me curious if its just at random they sending the checks or if the larger amounts will be later sent. I will be watching the mail closely now.I called and they can at least tell you if your check has been sent out or not and she told me mine hasn’t been sent out yet.

  263. @ Tina ~ That is why i posted…..Yesterday I too was watching and waiting…I’m praying for everyone involved in this nightmare!

  264. @Coupongoddess – Thank you. I don’t even know what amount to even expect. It all depends on how their system shows our situation.

  265. I had no clue either…we were in a modification and then they stopped it and refused to explain why…..they proceeded to foreclose on us…even though we were under a bankruptcy at the time…then whoever the bank hired to come into our home to ready it for the sheriff’s auction…broke into the home and changed the locks before our scheduled date to vacate….. I have no clue as to how they figured our amount… :/

  266. @Coupongoddess – Oh no! Something similar happened to us. I requested the loan mod and then called every week to check status and was told it was “being processed” with the loan mod rep. Then one day I called to check status and they said that it didn’t go through. When I asked why, I was told that they sent it out and since we didn’t respond timely, they aren’t going to do it. I told them that I called every week and was told that it was being processed and that we NEVER received the loan mod because, obviously, we were waiting for it. The rep said that the loan mod that was supposedly offered would have raiser our monthly payment anyway because all they did was move what we owed to the back of the loan! I don’t know if that would be considered a loan mod denial or not offered, according to the settlement framework.

  267. Sounds like u got the run around too …they told us to call back after we made 3 modified payments and then we could make it permanent. When we did…they told us that we no longer qualified for the lowered payments (and we were behind on payment)…and that we never filled out the paperwork. When I told them that we most certainly did at the beginning of the 3 mo. trial period…they told me that they had since sold our loan and under the new bank (hsbc) we no longer qualified! I asked them why we were not made aware of such changes…they told me that it was not their job to make us aware! True story….THAT was the beginning of the end for us :(

  268. I just received my checks for $6,000. Just what I was hoping for, it’s not like I would b able to get my house back but it’s better then nothing. My house went into foreclosure in 2010, after fighting for yrs, WF will not modify so we just give up. Have been renting for the last 3 yrs..luckily my husband have a uncle who is a missionary have his house available for rent so we are bless that he is willing to rent his house for us for under a thousand. We will rent for now until we r qualify to buy again.

  269. @Coupongoddess – They sound like BofA’s customer service!!! You can never reach the person that you “need” to talk to and to THIS day, we still get payment reminders and we shortsaled the house in 2009!!

  270. UNITED WE STAND, DIVIDED WE FALL.

    Seems to me that is exactly what the big corporations are shooting for. Just because most of the citizens were not born with a silver spoon in their mouth, DOES NOT justify the cruel, intentious and down right hurtful acts, the so called big wigs bring down upon us.

    We are not pawns on your gameboard, we are not the scapegoat to your schemes and web of lies. WE ARE AMERICANS! We deserve our freedom, right to justice, and voices to be heard.

    It so saddens my heart that so many of us have had to deal with nightmares that just don’t go away. While they get stronger, we get weaker. Not just under this circumstances, but many.

    We have to stay united against the wolves and bring them down. Revolution!

  271. Anyone heard anything about when and what the payment structure will be for Goldman Sachs (Litton) and Morgan Stanley? When I call RUST they will only say my check did not go out in the first wave.

  272. I am with Morgan Stanley (Saxon) and they have not said when ours will go out. I’ve been searching for three days now looking for it as well as calling.

  273. I just called Rust to find out if our check has been mailed and the automated recording states that they do not know the date the payments are mailed out. I hear on here that most, if not all, who have called to get statuses on their check mail-out date have been told that they are not included in this wave. I think they are telling everyone that just to give them some kind of information.

  274. 300.00 check in the mail . Deposited in the ATM and it was credited to my account the next day. No problem with the check. People enjoy what money you get and go on with your lives. The bastards that allowed all these shenanigans to occur can all rot in hell. You don’t have to do any lawsuits just work and pay what bills you have for the moment.

  275. Just read on uprising that someone recved i think it was a 62,000 check. Not much info from it after that.
    My question is has anybody recevd anything in SC, from CITI?

  276. Howdy Folks,

    I just want to caution you folks about scams. A lot of folks are vulnerable right now and want whatever is coming to them.

    A lot of these scams come from other countries as well as ours. So I would be careful about these supposed big checks.

    All you have to do is click on a link and someone can plant a virus on your PC or phone and track your every click.

    Anyway, pouring fuel on the fire, yesterday I received a check for $500 from WF on a rental property that I shortsold. SMH

  277. Which goes to show you that there was no thought or assessment put into the amount of checks people receive.

  278. Like I said before these banks are a bunch of Crooks. I am still waiting on my check, I called this morning and was told that has not been process as of yet. The Lady on the other end was very nice. I Guess CHASE is taking there sweet little time. but I see that they have been in my credit file over the last year and just recently at the beginning of this month. They have updated my credit file and has the Mortgage that I had with them PAID AS AGREED. DAMN CROOKS.

  279. still wait’n on BofA over here in the bay area, got that letter they sent out last month. must be on slow boat from MN.

  280. One frustrating thing is that under the original framework the bank would have to pay back foreclosure fees paid by borrowers when the foreclosure wasn’t completed and the foreclosure action took place without the bank having cause to foreclose. We were pretty disappointed about only receiving $800 when we paid nearly $7k in foreclosure attorney fees. Of course we were thankful to receive any compensation, but wish they would have had to be more accountable. I am all for a class action lawsuit, but the sad facts are that we will only get another few hundred dollars most likely, and the attorneys will make a fortune. I am wondering if there is a way it can be put in the lawsuit that banks must pay back fees plus interest like the original framework. Provided for.

  281. @Florida – Thank you for that info. I was starting to get worried that we hadn’t received our check yet. But, from what I hear, no one under BofA has received their check yet.

  282. Dang it, I was hoping maybe the checks were being sent by bank, not just randomly. Anyone figure out what criteria they are using to send out everyone’s checks?

  283. FOR IMMEDIATE RELEASE
    April 19, 2013

    Contact: Bryan Hubbard
    (202) 649-6870

    Status of Independent Foreclosure Review Payments

    WASHINGTON—The second wave of 1.4 million checks totaling $1.2 billion was sent today to borrowers eligible for payments under the Independent Foreclosure Review Payment Agreement, bringing the total number of checks sent to date to 2.8 million worth $2.4 billion.
    http://www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-66.html

  284. Ann: Stay on top of your credit report. Also anyone who had a Mortgage with CHASE, You need to pull all 3 of your report Transunion, Equifax and Experian. I have a watch on my file and Chase as reported my Mortgage with them in 2008. At the time I file for Chapter 7 and Deed the Property back to them. TRANSUNION report 0, EQUIFAX reporting 0 balance. EXPERIAN was totally remove from my report. Please everyone check you credit report to make sure this is reflected. I have a credit monitor on all 3. It is worth the money. My credit score as actually gone up since they have settle this mess. I am still awaiting my check from CHASE. DAMN CROOKS.

  285. Did anyone get a code other than UPPN next to the serial number on their Rust postcard?
    It is on the right-hand side of the number under thebarcode.

  286. Well, after reading many complaints and everything, I really wasn’t expecting much, but today I received a $62500 check in the mail – loan was with Chase

  287. @Shocked Congrats! I have not yet received payment and was foreclosed while in bk who was your servicer?

  288. @ Shocked..Did they deduct taxes or request any additional paperwork? Were you under BK 7 or 13? Thanks and Congrats

  289. $800 is a scam. All the searching.g I’ve done I found that Indiana and a few other states are keeping a major percentage of the settlement to fix government screw ups. We are being robbed for a second time. Is there any attorneys going to fight the state for what we deserve. I lost thousands do to this whole issue and only $800.. NOT RIGHT

  290. No taxes were taken out and I am surprised they didn’t send extra paperwork, but I already figure I better put $20000 aside for tax time next year. Chase was the company. Yes it was sent certified. My mom had actually gone to the post office and said she had to sign like 10 things to get it. BK 7. I would be the “servicer initiated or completed foreclosure on borrower who was protected by federal bankruptcy law”. I think that answers all the questions so far.

  291. To Shocked: I am very happy for you, I am also awaiting a Check from Chase. I in the next Wave April 26. Now Please make sure that the correct your credit file. I will keep you guys posted when I received mine next week.

  292. Got my $300 check in the mail today from Chase. I live in TX and was foreclosed after Chase kept sending back my modification paper work for additional information. Got frustrated and then tried to short sale but Chase imposed too many conditions on my realtor that she said she could not work with to sell the property. Finally gave the house up to foreclosure. I am ready for class action lawsuit. Good luck to everyone expecting payment checks but please don’t get up your hopes too high!

  293. $800 today. Had a review, loan mod requested but no underwriting decision made. Funny thing, if they just denied me, I would have had $6000. Happy though. It’s been than $300. Suntrust/Florida.

  294. Received $2k today from B of A loan. I was denied loan modification during the timeframe, but still have home, not currently in foreclosure. Working on new loan mod. now.

  295. I received a check from BOA for $300 yesterday. I requested a review and fall into the $6,000 category. I’m not sure how I only got $300 when I verified last week that they DID receive my request for a review. The lowest I should have received is $500, according to the framework. Sad, but true.

  296. We received our $300 check as well. If we contact the credit bureau will they make some type of notation on our credit report?

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