Borrowers Mull ‘Class Action’ as Foreclosure-Review Checks Arrive

Borrowers Mull 'Class Action' as Foreclosure-Review Checks ArriveTwo years after bank regulators took their initial “enforcement” action against mortgage servicers in the mostly-defunct Independent Foreclosure Review, checks to nearly 4 million eligible borrowers have started to arrive at mailboxes nationwide.

But anger persists among the recipients of these checks — the vast majority amounting to hundreds of dollars each — representing payouts that fall vastly short when truly accounting for the wrongdoing by the named banks and their servicers, according to the borrowers, consumer advocates and some lawmakers.

Check recipients have taken to forums, social media and various news and blog sites (eCreditDaily included) urging each other to keep banding together and form class-action lawsuits against the banks.

At least one forum had registered nearly 600 IFR  borrowers, with many calling for legal action, by late afternoon Tuesday.

Thousands of checks were received Monday, and many more will be delivered this week.

Here are some comments from IFR check recipients –  from blogs, forums and Facebook pages where hundreds of foreclosure victims have congregated:

Matt: My check was $800…not nearly enough to make up for losing my home…

Julie: I got my check today – $500.00. My house went into foreclosure, I applied for a modification, never heard back – they basically ignored me. I had thought I would have fallen into the $6000 category, since they ignored my request.

Kylee: We received our check today; it was $400.00. We should have got $3,750.00. We were covered under Bankruptcy law. The home has been sitting vacant for almost 6 years.

SoCal: I received a check today for 6K. I was in the category that should of paid 50k. Class action time!!!!!

Another borrower said she received a check for $300.00 and was not able to deposit it. Her bank  informed her more than once that there was no money in the account.

Borrowers under the Independent Foreclosure Review settlement, reached with 13 mortgage servicers earlier this year, have the option to file lawsuits for rightful compensation — an action that will undoubtedly unfold over the next few months as checks continue to be mailed out by Rust Consulting, the paying agent for the regulators.

There is no IFR appeal process. Regulators have made that clear. “The payment amount is final,” both the Comptroller of the Currency and the Federal Reserve say on their IFR web pages.

The one bright spot: Regulators said borrowers were not required “to execute a waiver of any legal claims they may have against their servicer as a condition for receiving payment.”

Last week, a payment framework was released by the Office of the Comptroller of the Currency and the Federal Reserve, with compensation scattered within a sweeping range — from $300 to $125,000.

Out of 3.9 million borrowers, about 2.5 million will get a few hundred dollars each.

Nearly 9,000 borrowers qualify for compensation ranging from $24,000 to $125,000 — involving foreclosures that were initiated or completed against borrowers who had not defaulted on their mortgages or who were meeting all requirements of a documented forbearance plan or were protected by federal bankruptcy law.

Some qualify to receive $3,000 to $50,000 after servicers failed to convert them to permanent mortgage modifications, even after the homeowner completed successful trial periods or were performing all requirements under trial periods.

Nearly 900,000 borrowers who were denied mortgage modifications qualify for an amount between $1,000 to $6,000.

Below those categories in severity of financial harm, botched mortgage modifications played a large part in the amounts configured for payouts, mostly ranging from $300 to $800.

But there is much ambiguity in these supposed lower categories. More than 900,000 borrowers fall under this heading: “Servicer who did not engage with borrower in a loan modification or other loss mitigation action.”

“People who managed to get far enough along in the [modification] process, many of them will get a decent payment,” Alys Cohen of the National Consumer Law Center told ProPublica. “But people who suffered servicer neglect clearly are not getting compensation for the harm they suffered.”

Many borrowers have complained of not being placed in the rightful category, some saying they should have been placed in more than one category.

Commented Christina to eCreditDaily: “We received 500.00 today. We had 3 different categories we fell into, and they choose the one we didn’t fall into. Very sad…”

Checks are being sent “in several waves beginning with 1.4 million checks on April 12,” the OCC said.  The final wave is expected in mid-July 2013. But more than 90 percent of the total payouts to borrowers by 11 servicers are expected to be sent by the end of April.

The banks and their servicing affiliates that are part of the IFR agreement are: Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo.

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183 Responses to “Borrowers Mull ‘Class Action’ as Foreclosure-Review Checks Arrive”

  1. Kim says:

    @tgoodman I believe anything over 600.00 is taxable.

    @Swalley. I called today and was told I was not included in the second wave then I asked for a supervisor who gave the girl I was talking to authorization to tell me that I was included and my payment was mailed today,. Rust gives you the run around.

  2. LifesaBeach says:

    T.Goodman – I also entered all of my information on 12/31/12 (nice way to spend New Years Eve). I assumed I would get some kind of confirmation after I submitted it but, nothing. Originally, I thought I may have gotten timed out but after all that has been going on, I have doubted it. When I called they told me I was listed but no record of me requesting a review. Very frustrating.

  3. unknown says:

    There is apparently a new script today…FYI.

  4. me2 says:




    Regards, me2

    NR 2013-66

    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.

    As of the close of business Thursday (April 18), 434,484 checks totaling nearly $419 million were cashed or deposited.

    The payments result from agreements between the Office of the Comptroller of the Currency, the Federal Reserve Board, and 13 servicers to provide $3.6 billion in payments to borrowers whose homes were in any stage of the foreclosure process in 2009 or 2010 and whose mortgages were serviced by one of the following companies, their affiliates, or subsidiaries: Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo.

    The first wave of checks was sent April 12. More than 90 percent of the total 4.2 million checks totaling $3.6 billion will be sent by the end of April. The remaining checks that require additional borrower information will be sent in mid-summer.

    Notice to Financial Institutions
    Institutions processing checks are reminded that to help prevent fraud, checks require positive identification. Banks and other financial institutions should follow the instructions provided on the back of the check to validate authenticity.

    Borrowers Assistance
    Borrowers with questions regarding payments should contact the Paying Agent—Rust Consulting, Inc. at 1-888-952-9105, Monday through Friday, 8 a.m. – 10 p.m. ET or Saturday, 8 a.m. – 5 p.m. ET.

    Regulators have issued guidance to the servicers under foreclosure-related enforcement actions directing a review before foreclosure sales for all pending foreclosures. These reviews help prevent avoidable foreclosures by ensuring foreclosure-prevention alternatives are considered and foreclosure standards are met. Regulators encourage borrowers needing foreclosure prevention assistance to work directly with their servicer or contact the Homeowner’s HOPE Hotline at 888-995-HOPE (4673) (or at to be put in touch with a U.S. Department of Housing and Urban Development-approved nonprofit organization that can provide free assistance.

  5. sla says:

    I contacted Rust Consulting yesterday received the same reply that someone else posted. That 90% of the checks will be mailed out by the end of April they could not tell me if mine had been mailed or not.

  6. pat says:

    Called Rust yesterday told check had not been sent out to me. Call at 4:00 pm Illinois time. Called this afternoon 2:00 pm to ask what wave I was in was told check was sent out friday.
    Will post if I get it next week

  7. kim says:

    I think they just answer whatever… Still haven’t got mine. Chase in Florida… Anyone in FL get one from chase yet.

  8. Unknown says:

    That number is now 1022, with 340 votes for a class action suit! Getting close enough in numbers to actually start a serious discussion on finding a lawyer etc. Here is the poll, please register and vote!

  9. fc says:

    Need a statutory cause of action passed by US or state(s) legislature(s). Statute of limitations for bring action against FRAUD is 2 years. 3-4 years for wrongful foreclosure. THEY KNEW TIME WAS EXPIRING on us, therefore, no problem saying this IFR settlement doesn’t require us to waive rights to sue. We can’t sue anyway after statute of limitations or prescription ended. Right?
    WRITE YOUR SENATORS AND REPS of HOUSE. Statutory cause of action which will give us 20 years to SUE AND BREAK UP THESE BANKS.

    Other option — civil suit under RICO… and including the OCC and FED RES board of governors. FEb regulators all have their start at the same wall street law firm have bounced around in their careers from US government regulator agencies, consulting firms like Promotory, OCC, FED, etc. Along with Eric Holder….

  10. Dana says:

    Anyone have the phone number for rust to check status of payment….. I keep getting a recording

  11. JH says:

    Rust Consulting toll free number is 1888-952-9105, Press Option 3.

  12. Swally says:

    Check was sent out Friday hoping it will be at least 1,000

  13. Swally says:

    $3,000 feel a little better!

  14. china says:

    good evening Swally what happen to you,did you loose your home?

  15. Lena says:

    I was told today by Rust that Litton Loan checks would be out at the beginning of May, so we are all getting different answers. I did read on line that the next wave of checks will be April 26th and May 3rd, so that is every Friday so far

  16. Swally says:

    @China yes we lost our house. The year prior to our foreclosure we had tried for help with Wells Fargo numerous times and they would not approve us simply never answer. We ultimately fell into the category for appling for help and being denied. We had not sent in for a review because we never knew we could. We only sent in the information for the National mortgage settlement. However I am happy we at least were given something for them not working with us.

  17. China says:

    Thank you Swally for that information,I will keep you inform when I do receive my check I was told it was mailed out on 4-19-13.

  18. Bulshita says:

    Got 6000 today! What a scam! Filed bankruptcy Oct 2008 then foreclosed on in February 2009. Wrong category like thousands of others. Class action for 700 billion seems about what the banks made during that time. 20% max to the lawyers. We end up splitting the other 560 billion. That’s about 125k each.

  19. Bend Girl says:

    My neighbor just got a $300 check today. We are in Oregon. She never filed a claim in IFR/OCC settlement. I on the other hand did. Both are servicers are Chase. I also filed an OCC complaint against WAMU (now Chase) in spring 2009 which OCC did follow up on at the time. After months, getting an attorney, and them filing foreclosure, I eventually got a modification. Only because I fought them tooth and nail. I attached foreclosure documents with IFR complaint and evidence it was signed by a “known” robo-signer. I know I am eligible but haven’t received a thing ($$$) yet. Maybe they are sending the big payments last! (LOL)

  20. DavidJ says:

    Well, got my $600!!!

    What a rip-off!! I was slated for $62500 from the old framework. We all got sold out!! The settlement was a sweetheart deal for the banks. CLASS-ACTION!!!

  21. Bulshita says:

    Or prosecute like they would me or you! CEO’s take credit for there success but disappear when the S@i” hits the fan. Cowards!!! Have not did business with any of the big banks in five years and will never again. Support your local banks and credit unions!! Cheers

  22. Bulshita says:

    Between the 13 banks involved in this they make about 500 billion profit per year. They give us 7% of that!!! OCC and Feds should have put them on there last dollar before bust! Or closed a few to show the American people this wont be tolerated.

  23. Mom2 says:

    i was denied mod for 2 years eventually gave up because i was tired of speaking with reps at WF and telling me they lost paperwork and resend. Well got 500 today for my troubles, and I am pissed beyond belief. lost my home and the bastards simply said take this 500 and move on….

  24. holamb says:

    We qualify for payments from two different banks as we were screwed over by both BoA and Chase (that is one lousy threesome!). We have received a whopping $400 from BOA but nothing from Chase so far. We got two separate postcards….one from each bank so I know we are supposed to get two separate checks. I think it is odd we got the BOA check last week but still waiting for Chase. So, in response to other people in FLORIDA, NO CHECK FROM CHASE YET!
    Of course, after playing “bang your head on a brick wall” with Chase for 2 years, why am I surprised that their checks have not arrived for most people yet?
    Seems par for the course.

  25. Missy says:

    Called rust yesterday. Was told they haven’t made a check out for us yet and now they are saying the last wave could take as long as Aug. to be sent out. Has anyone else been told that?

  26. Unknown says:

    That number is now 1210, with 380 votes for a class action suit! Getting close enough in numbers to actually start a serious discussion on finding a lawyer etc. Here is the poll, please register and vote!

  27. Hopeful says:

    @ Missy….more than likely it will be mailed out on 4/26 or 5/3 as those were supposed to be the last waves.

  28. Mark says:

    Anyone who still has their home should get $300.00 and go through the other part of this settlement. Anyone who lost their home should get the high amounts. $60,000.00 to 125,000.00. That would give the people who lost their home a chance to get a new home. The second par to this settlement is for banks to work with current homeowners and their mortgages. (i.e. lower the principle etc.)

  29. Dan says:


    April 23, 2013 at 10:11 am


    Wells Fargo foreclosed on us, and did not even own the mortgage.
    I hired 3 different firms to try and work something out in the form of a
    Modification, Wells Fargo would not even discuss it.
    Then I ended up hiring 3 differ law firms to help file the Chapter 13

    All of these Firms were so busy raking in Huge profits from all the BK cases, that we could not even get one of them to do due diligence and file the correct papers.

    I spent over 20K on worthless Attorneys, we also filed every complaint under the sun and all of these Government agencies did NOTHING AT ALL, we never even received a reply from any of them.

    After all of this, I choose to become my Own Attorney Pro Se and straighten out the Chapter 13.

    This all took so much time, that even after being laid off in the worst depression on recent record, and being lucky enough to find something temporary 200 miles from home,.

    I also lost the temporary position after a year, as I was being summoned to court and harassed by Wells Fargo every other month.

    I finally negotiated a shotgun at my head modification with Wells Fargo, who refused to ever provide a single shred of any evidence that inflated my Mortgage by over 10,000.00.

    My new payments were higher than before, and this all cost me over 40,000.00 and surely took years off my life due to the stress and hassles.

    Now The FEDs and Bank Crooks want off the hook for a 1,000.00 per person with no disclosure at all.

    America, none of these crooks even went to jail; we were all ripped off BIG TIME.

    I Demand BETTER, and so should the rest of the Americans in this once great country.

    People need to be Jailed, Feds needs shut down.

    This is absolute BS, Call your Senators.

  30. victim says:

    I am in Florida. I was one of the first dozen to file with the IFR….as a result of BOA oh so many errors. Two years later I received $300- I was in the 50,000 category. I am unable to sleep or function I am so devastated. They literally have made me sick.

  31. Ben says:

    Victim, you filed a review the minimum you should have received is $500.

  32. me2 says:

    VICTIM, While this is so very frustrating and devastating try not to allow this to may you ill. Ben, is correct, the minimum for you should have been 500 because you filed for a review which means that they didn’t even follow their own rules.

    Please understand that people are still getting their checks and more and more people are not in agreement with the compensation they received.

    Lets NOT give up and lets make sure that in the end we band together go to the Senate and say sorry but this is unacceptable and we will NOT have it.

    This is not over……….

  33. victim says:

    Thank you for your kind words…..they have been the only ones that I have received as I have spoken to the OCC…….the office of the President of BOA…..etc. All to be told that the checks are final as that is what was worked out. This atrocity. I had kept in constant contact with the IFR and as an original filer and the category I was in, I expected 50,000. The horror of a few hundred dollars has me unswallowing continually. The state attorney was on the news in Florida encouraging everyone to file before the end of the year deadline as it would result in “thousands” of dollars. Naturally as I had filed years previously…..i expected at least that for the multiple years of lost documents….applied astronomical fees etc…..I am devastated.

  34. Wanda says:

    “IFR SUCKS, then Mutha@#$%&@’s ain’t Sh%$%” I only recieved 500 dollars today. I lost my home and my family and I were homeless only for 500 measly big one. To hell with them, LET”S GO TO WAR

  35. me2 says:

    Victim, don’t loose heart. This is not over by any means…Like I said before people are still receiving these checks..

    We need to band together and FIGHT!!!! The evidence is already showing that another fiasco is in the making by how the banks slotted customers into these categories.

    This new mess is still developing…. I will pray for you but I already know that God is on the side of justice….be well and try to be calm!

  36. Reef says:

    Where do we find these classifications?

  37. Angie says:

    I just talked to someone from BOA, after i called the Rust number, a rep transferred me to them, it took about a half hour. My payment will be sent this Friday. My question is, How are the mailings being determined or categorized? I know the first wave was April 12, this next one being April 26, and another on May 3. Is it location of foreclosure, amount of settlement? Just wondering about this. I had requested a modification, twice, was in the middle of a short sale and the house went to auction anyway, the potential buyer and her agent were not notified, I received a letter two weeks after the fact that it had indeed gone to auction and with no bids, went back to the bank. I was the one who had to tell the agent and would-be buyer, who was hearbroken and I was left very, very confused. All paperwork was faxed and mailed by both myself and my Realtor and BOA claimed to have never received a thing. I was in the middle of a medical crisis (which I know is not a category), but they did not seem to care, and I am now on SSDI. I have looked at the categories and it looks like I fall under a few of them but my bet is I will receive the lower of the payments based on the other replies I see posted here. Did anyone else have this happen with them, being in the middle of a short sale situation? I will post later when I receive the funds and let you know how much. Good luck to all of you and don’t give up.

  38. Angie says:

    @ Reef, go to the OCC site or the federal reserve site and there is a link to a pdf file that has the categories.

  39. Addy says:

    I received my check today, $2,000 (Loan Servicer: SunTrust Mortgage Sunnyvale, CA)

  40. not the one percent says:

    After endless faxing…..mailing… calls….over and over again. The notice taped open across my front door….feet from busy sidewalk for all to see. Oh, and they even had my ss# on it…after BOA ruined my life…..i received three hundred dollars from them for the privilege of doing so. I am in total despair.

  41. Barb says:

    Has anyone received their check from US bank? I have not yet received my check and I applied to the review back in Nov 2012. I am devastated to hear that the amounts thus far has been very low. I have not heard one person post that they received 125,000 or 130, 000 or even 50,000 dollars yet. I have checked many blogs about checks and not one person yet has admitted to getting the higher amounts.


  42. Herb says:

    Wow!! After 5 year of battling with BOA in court I received a check for $600 and that battle continues today. In 2009 Boa increased my mortgage payment $275 on my fix mortgage, in which their was not a increase on my taxes or insurance. Also, this was done while I was supposedly protected by the laws of Chapter 13. According to the categories I should have received $7,500. Because I also, applied for the review. Scam? No. It was simply a deal made between the rich bankers & the federal government, screwing the little people again. If we work together we have 4 million voices & votes in America that’s more powerful than money. In 2008 the Federal Reserve provided a ‘breathtaking’ $7.7 trillion bank bailout, which dramatically exceed the $700 billion TARP bailout . The government bailed the banks out when they knew they were doing wrong by the America people, why?…..hardship on the banks behalf or just crooks? We need to bond together and force the government to provide a bailout for us. Why not we haven’t committed any crime, just America’s facing hard times. NOTE: The next election in 2014. WE can win!!

  43. Michelle says:

    Hello Barb, I received my check from US Bank yesterday, i am in ohio and it was only $500. I dont know which category I fell into but i did request a review in june 2012 and i did loose my home. hope that helps

  44. Hoping says:

    Barb – my bank was US Bank and I just received my $300 check yesterday! I did not expect much given everyone’s response. I did not file for a review. Thought it was a scam. Truthly, I just want me credit report fixed. I haven’t seen or heard much about the other part of the settlement – the $5.2 billion in other assistance, such as loan modifications and forgiveness of deficiency judgments. Are the banks suppose to automatically modify and forgive loans or are we suppose to request this ourselves and put our destiny in the hands of the banks again?

  45. Gail says:

    FFrom Kansas, received $6k today from HSBC, wrong category of course, but feel blessed I received more than the majority of us who lost their homes to these greedy a**hole crooks. Completed IFR forms in early 2012, last name begins with A. I was in Forebarence plan when forclosed on.

    PASS IT ON….new whitehouse petition demanding reevaluation of IFR…..and OCC and Fed reserve’s role. Need 150 signatures before it will be moved to main site, PLEASE SIGN! We need all the publicity we can get! Link is below:

  46. me2 says:


    A group of House Democrats want an independent consultant to oversee billions in payments to borrowers who lost their homes because of shoddy foreclosure practices after some of the checks bounced last week.

    Maryland Rep. Elijah Cummings, ranking member of the House Oversight and Government Reform Committee, along with seven other House Democrats, introduced a measure on Thursday that would ensure the funds mortgage servicers have agreed to pay for shoddy foreclosures get to those harmed by the procedures while also setting up a system for Congress to track the process.

    “Mortgage servicers have now admitted that they broke the law by illegally foreclosing on American families and committing numerous other abuses, but regulators refuse to provide even the most basic information about the extent of the abuses that were uncovered,” Cummings said.

    “Since federal regulators now plan to rely on these same banks to determine payouts and deliver settlement funds to borrowers, we need an independent monitor to bring transparency and accountability to this process.”

    Nearly $3.6 billion is going out to about 4.2 million borrowers but many of the first checks issued earlier this month could not be cashed.

    The Federal Reserve Board said it has rectified the situation for getting out the payments that are expected to range from $300 to $125,000 and are being paid from 11 mortgage servicers as part of a January agreement reached by the Office of the Comptroller of the Currency and the Federal Reserve.

    In the process of working out the settlement, regulators eliminated the Independent Foreclosure Review (IFR) program that was designed to examine millions of loan files and determine the amount due to each homeowner.

    Regulators have argued that the process, set up in 2011, was painstakingly slow and the money wasn’t getting to homeowners fast enough.

    The measure would give President Obama the power to appoint a monitor who would review compliance of the banks and the regulators and issue public quarterly reports to Congress.

    The reports would include a broad range of data including information on borrowers who receive relief and how much they were paid, as well as the number and amounts of principal loan modifications and other types of borrower assistance.

    In January, Cummings and Sen. Elizabeth Warren (D-Mass.) launched a joint investigation of the settlement and requested that the Fed and the OCC provide documents relating to illegal actions by mortgage servicers identified during the IPR.

    The lawmakers say the regulators have refused to provide those documents, because they argue that they are the “trade secrets” of mortgage servicers.

    House Financial Services ranking member Maxine Waters (D-Calif.) also has been at the forefront of investigating why regulators decided to nix the IPR without consulting Congress.

    In an April 4 report, the Government Accountability Office said of the IPR that: “Complexity of the reviews, overly broad guidance, and limited monitoring for consistency impeded the ability of the Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Federal Reserve) to achieve the goals of the foreclosure review.”

    The report concluded that “limited communication with borrowers and the public adversely impacted transparency and public confidence” and recommended that regulators “apply lessons from the foreclosure review process, such as enhancing planning and monitoring activities to achieve goals, as they develop and implement the activities under the amended consent orders.”

    The January agreement provides cash payments to borrowers whose homes were in any stage of the foreclosure process in 2009 or 2010 and whose mortgages were serviced by Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank and Wells Fargo

  47. lisal says:

    PLZ sign the whitehouse petition…..

    Has anyone seen any stats where the IFR breaks down the “victims” by states or by mortgage lenders? I would be very interested in knowing the breakdown of that!

    Also Senator E. Warren office is accepting “letters” from IFR victims! Just send statement of who what when and where details, preferably no more than 2 pages. Be sure to include your contact info.
    aslo if you have received your check from RUST, plz include amount you received.
    On the envelope
    , the FIRST line in YOUR return address should be
    then your return address
    MAIL TO:
    Elizabeth Warren, Senator for Massachusetts
    2400 JFK Federal Building. 15 New Sudbury Street. Boston, MA 02203
    Good luck and may the odds be ever in your favor! (yes I am a hunger games fan)

  48. Debra says:


  49. miriam says:

    As a homeowner I fought hard to keep my home, this so called Independent Foreclosure Review has resulted as a slap in the face I recieved a mere $500 and its not that Im greedy or ungrateful person but I know I deserve more. After countless efforts of making extra payments towards my modification, and submitting documents and my mortgage servicer(America Servicing Company) continuously renewing my modification instead of turning it over to a finalized status they finally foreclosed on my home, I am disgusted with the decision (IFR) made to place people in whatever category they felt instead of digging into a clear cut decision based on the actual findings, and then distributing mediocre payments to those who lost their homes and remain in debt all at the fault of the loan servicer. I am truly disgusted!!!!!

  50. Elizabeth says:

    I was also with US Bank. in 2009, fell behind in payments due to job loss, we were first time home buyers, didnt know anything about loan modification. Everytime I called I was treated like a low class person. My only options according to US bank was catch up with payments or forclosure. Nothing else. They did agree to a short sale to save ourselves for forclosure. Put $10,000 down when we bought it and it sold in 2010 for $25,000 less that what we bought it for. Credit ruined. Filled bankruptcy in 2012 and filed for the review. Really I dont expect anymore than $300-$500. I have read so many posts of home owner robbed of what they should have recieved. Im so tired of renting, all I ever wanted was another chance at home ownership again. Guess I’ll have to wait years for that one. I called Rust and my check was mailled today. Thats all they would tell me. I will post what I get, when I get it.

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