More than 2,700 Florida homeowners to receive Countrywide checks
February 16th, 2010 - 4:25 am ICT by BNO NewsTALLAHASSEE, FLORIDA (BNO NEWS) – More than 2,700 Florida homeowners will receive checks from a 2008 settlement obtained with Countrywide Financial Corporation, U.S. Attorney General Bill McCollum announced on Monday.
In July 2008, the Attorney General filed a lawsuit against Countrywide Financial Corporation for allegedly engaging in deceptive and unfair trade practices. Countrywide is one of the nation’s largest mortgage companies. The lawsuit stated that Countrywide put borrowers into mortgages impossible for them to afford or loans with misleading rates and penalties.
In October 2008, a settlement was agreed. It included foreclosure relief payment program for Florida homeowners with qualifying Countrywide mortgages.
It was announced that the checks will be distributed this week, each one for the amount of $6000. More than $16.9 million will be paid to the eligible Florida borrowers who returned valid and timely claim forms and releases.
“These checks will make a significant difference for Floridians who are trying to save their homes,” said Attorney General McCollum.
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Tags: attorney general bill mccollum, borrowers, checks, countrywide financial, countrywide financial corporation, florida homeowners, floridians, foreclosure relief, loans, mortgage companies, mortgages, tallahassee florida, unfair trade practices