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

Independent Foreclosure Review: Payments Up to $125K Begin April 12Long-delayed compensation to 4.2 million borrowers that were part of the Independent Foreclosure Review will begin April 12, with precise amounts based on the stage of foreclosure and the type of servicer error involved, bank regulators said Tuesday.
The Office of the Comptroller of the Currency and the Federal Reserve Board said payout amounts have been determined for each category of servicer error by using the financial remediation matrix published in June 2012 as a guide — but also  “incorporating input from various consumer groups.”
Regulators have published the payment amounts and number of people in each category.
For example, a borrower who was foreclosed upon — but was not actually in default — would qualify for the highest amount of $125,000. If a borrower was not in default, but the foreclosure was rescinded, the individual qualifies for $15,000 in compensation.
More than 1,100 borrowers qualify for $125,000 under the new matrix.
If a servicer initiated or completed foreclosure on a borrower who was protected by federal bankruptcy law, the borrower is entitled to $62,500. Nearly 6,000 borrowers qualify for this amount.
Borrowers who had a servicer complete a foreclosure — even though the borrower was performing all requirements of a written trial-period plan — would qualify for up to $50,000. Nearly 1,000 borrowers qualify for this amount.
Foreclosures are generally considered complete when ownership of the property is transferred to the servicer or investor, and the debt is extinguished. The foreclosure process varies by state.
However, the vast majority of borrowers fall under servicer errors paying out $500 to $6,000 in compensation.
The new payout matrix has been much anticipated by eligible borrowers since the initial Independent Foreclosure Review with 13 mortgage servicers, including the nation’s largest banks, was scuttled in January in favor of a settlement.
Firms were hired for a total of $2 billion over nearly 18 months in an effort that produced scattered results and an unwieldy, poorly-monitored process, according to a Government Accountability Office (GAO) report released last week.
According to the announcement today by regulators,  borrowers whose mortgages were serviced by 11 of the 13 servicers — all servicers but Goldman Sachs and Morgan Stanley—  will be sent checks “in several waves” beginning with 1.4 million checks on April 12.  The final wave is expected in mid-July 2013.
More than 90 percent of the total payments to borrowers at those 11 servicers are expected to have been sent by the end of April.
Information about payments to borrowers whose mortgages were serviced by Goldman Sachs and Morgan Stanley will be announced in the near future.
The agreement, which was reached earlier this year, provides $3.6 billion in cash 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.
In most cases, borrowers will receive a letter with an enclosed check sent by the Paying Agent — Rust Consulting, Inc.
Some borrowers may receive letters from Rust requesting additional information needed to process their payments.  About three weeks ago, Rust sent postcards to the 4.2 million borrowers notifying them of their eligibility to receive payment under the agreement.
Regulators said that borrowers can call Rust at 1-888-952-9105 to update their contact information or to verify that they are covered by the agreement.
Information provided to Rust will only be used for purposes related to the agreement, regulators said.
Borrowers should beware of scams and anyone asking them to call a different number or to pay a fee to receive payment under the agreement, today’s announcement also said.

167 thoughts on “Foreclosure Review Payouts: Most are in $500 to $6,000 Range

  • April 9, 2013 at 11:33 am

    I was denied modification 3 times. I just hope that my record with Rust Consulting reflects that. We could reallyl use the $ right now.

  • April 9, 2013 at 11:53 am

    We were performing the requirements of a trial period modification. After making 8 payments(trial period plan calls for 3) we were foreclosed on anyway without it being converted inton a permanent plan. Under the original financial remediation framework, we were to get the maximum amount of $125,000 plus equity and a corrected credit report. I pray that now I will be eligible for the $50,000 like the new framework says. Praying the banks do the right and everyone is placed in the correct category. Because I would cry if I’m listed under “other” .

  • April 9, 2013 at 12:03 pm

    Has anyone heard when the checks for Litton customers are going out?

  • April 9, 2013 at 12:09 pm

    Its good finally to here some news about when the checks are going to be mailed out….

  • April 9, 2013 at 12:22 pm

    What is a “completed” foreclosure defined as?

  • April 9, 2013 at 12:41 pm

    When I was originally having issues paying my bills I called US Bank and asked them how I could modify my mortgage to have a lower payment. The agent told me to stop paying my mortgage for 3 months, and boom, he would send me a modification packet, easy peasy, a reduced mortgage payment. He even told me to take that three months worth of mortgage payments and catch up on other bills and assured me it was no big deal because they do this all the time. (God, I was so gullible back then.) Except, after spending hours filling out a modification packet and dropping it in the mail, it went missing. So I filled our numerous modification packets, even sending them with proof of delivery, and they mysteriously lost those too. Then they sent my payments back telling me if I couldn’t pay everything that was past due + late fees, they wouldn’t accept my money. The next thing I know I’m paying a lawyer a few thousand to file a Chapter 13 bankruptcy because my house is up for auction. I somehow went from waiting on a loan modification to a police officer showing up on my doorstep and serving me papers to let me know my house would be auctioned off in two weeks. That was news to me, as US Bank never told me foreclosure was even on the table.
    I’m sure I’ll fall into the $500-$800 category. Nevermind the fact that I was basically forced to file bankruptcy or become homeless and my credit is now a disaster. Nevermind the fact that $800 doesn’t even begin to cover the expenses this debacle has caused me. Nevermind the fact that I devoted hours upon hours on the phone with US Bank trying to figure out WHY no one could find my paperwork. Nevermind the fact that I spent a great deal of time filling out this stupid Independent Foreclosure Review form so no one could look at it and US Bank could get a slap on the wrist.
    “Hey, sorry we caused you a few years of anguish and headaches and cost you thousands of dollars, here’s $500, let’s call it even!” Yeah, no, let’s not. This is about as even as US Bank’s backhand going across my face.
    So bravo, big banks, even after the collapse of the American economy you still maintain your usual level of douchery.

  • April 9, 2013 at 12:47 pm

    I was wondering the same thing johnny.
    Litton is Goldman Sachs and I cannot find any information as to why they are not included in this initial deal. It could be a good thing or a bad thing but it does state in the new framework that they are not in the same”waterfall” framework and that more will be announced on them soon.

  • April 9, 2013 at 12:55 pm

    Just wondering what category I will fall under……I made several successful trial payments……I think after the 9th one I was finally accepted and the foreclosure was stopped. My only problem is after all that time of me abiding by the terms the attorney fees continued to stack up, so even though I saved my home the amount that is owed on the loan is significantly higher than the original amount upon completion of the original loan. SO long story short did the modification drop my payment…..NO I have the same payment but owe more on my house…..How does that work?

  • April 9, 2013 at 2:06 pm

    Was in a mod with countrywide and Bank of America bought them out and refused to honor the mod. Bac made me reapply at least 12 times within a year only to send me to forclosure. Needed up short selling the house and received the mod from bac after I had an offer and bac refused to stop the short sale or forclosure. Think I will go after them directly. Already have files complaints and heard from bac’s office of the president which may really be nothing but I am going to try.
    The last matrix I was in the 15000 bracket now I have no clue what I fall under. Looks like a few hundred. What a slap int he face!

  • April 9, 2013 at 2:11 pm

    Is anyone being told by Rust what catgory they fall under?

  • April 9, 2013 at 2:21 pm

    Negative……I attempted to get information from them to find out which category I fall under and they gave me the run around on how they didnt have that information…..If anyone has read my above comment can you please advise which category I may fall under.

  • April 9, 2013 at 2:28 pm

    i’m trying to decipher what it means to be protected under federal bankruptcy laws. if you’ve ever been in that unfortunate experience, bankruptcy is run almost on a two tier system with state law controlling and you get to use federal exemptions etc if your state allows you to do so. i was foreclosed in a ch13 but i seriously doubt i’ll get more than the minimum. so who knows if i was protected? and little good it did.

  • April 9, 2013 at 2:31 pm

    BOA – Was placed in forclosure while the modification was pending. Fortunately I called for the modification status and found out that my home was in forclosure and was up for sale the very next day – this really did happen. They refused any paymnet from me unless it was the total amount due with forsclosure charges that I should not have had to pay because it should have not gone to foreclosure inthe first place. I was given the modification but never placed on a permanent one. Requested another modification (process took alomost a year) and found out on 5/13/11 that I was denied the day before 5/12/11 because, accourding to BOA, my most recent pay stub had a year to date amount on it but the one just prior to it did not – seriously!!! I only found out because i called them to ask the status – I initiated all contact because they never once contacted me throughout the entire priocess. I was forced to either allow foreclosure or short sale. Opted to take short sale and the bank refused an offer that would have collected an additional $3000 more then the asking price. Offer made in November they took until March to accept it. Sitting at the title company with the purchaser to close deal and BOA never sent the paperwork to the title company. Took two weeks before could get a phone call returned to either me or the title company. Once we did make contact, it took all of 1 hour to get the deal complete. Being forced out of my home whether it be by foreclosure or short sale because the servicer is incompetent is wrong no matter how you look at it. I returned the form for the independent review for never heard anything back from them either. The least they could do is to tell us what category we fall under. I personally think that I fall under several different categories in my case. It will be interesting to see what categories they feel I fall under. Any way to find out before you get the check?

  • April 9, 2013 at 2:32 pm

    I am with you litton victim and johnny my mortgage was with litton also,what is really going on is it a good or bad thing when we will hear anything?

  • April 9, 2013 at 2:33 pm

    Mine was the same situation Saywhat? But, I think they are looking at it as the foreclosure was stopped so what’s the big deal. From my understanding, I am only expecting a $300-$500 payment.

  • April 9, 2013 at 2:51 pm

    So in regards to the stacked up lawyer fees that now has my total amount due more than what my house is worth is pretty much just a “oh well, heres a $300 check.” I think its bull because they stalled sooooooo long on the whole modification. I know one thing there is a lawyer somewhere in the Chicago area who has Big fat pockets thanks to Citimortgage. I wonder if I will ever see that money back……..Not holding my breath

  • April 9, 2013 at 3:29 pm

    well the categories came out and am still lost ..where is the category that says the banks refused payments and forced you into a forecloser…my mod. was turned down twice…
    if Wells Fargo would have taken my payments iwouldn’t have been foreclosed on….i was one payment behind…can anyone tell me what category am in…also my home was bought in a short sale….plz. help !

  • April 9, 2013 at 4:56 pm

    I went into a trial modification way back in late 2009 when i first lost my job and successfully completed 4 trial payments when i called to find out when i would be put into a permanent modification and they denied me. I lost my house about 3 years later after numerous meetings with housing counselors trying to get me the modification and she was getting the same runaround. Hiring lawyers to get me a modification which did no good. I filed bankruptcy just so they couldnt come after me for the difference in what they sold it for and what I owed. So according to the matrix I deserve $50000 for not converting me to a permanent modification and since i filed for a review over 2 years ago.

  • April 9, 2013 at 4:58 pm

    I am with Saxon Mortgage and we are not included in the batch of payouts yet. I believe it’s because we were never sent a review packet. Saxon and Litton were not included in the initial review they came in later. I believe to make this fair they have to do this. In the new waterfall there’s two categories those that sent in their review form and the others and if you notice those that sent in get paid more. Now where would this place us being that we never even received one. They can’t place us in other because that wouldn’t be fair to us when we never got the form in the first place.

  • April 9, 2013 at 5:00 pm

    So we are being held off until they create the appropriate waterfall for us!

  • April 9, 2013 at 5:26 pm

    Still homeless – – we had a very similar situation where our bank claimed not to have received all our financial info (earnings). They didn’t call to verify or anything… They just automatically put us in the foreclosure pile, in the words of the useless customer service rep I spoke with at the time. So we resubmitted the paper work with the earnings info and what do you know, they gave us a workout package… However we were still considered to be in foreclosure until the loan was brought current. And Say What? I also am trying to figure out why the banks aren’t being required to pay back erroneous fees and foreclosure fees if they weren’t supposed to have foreclosed. I called Rust to find out if they would still be required to reimburse us… … Bah haha… Useless… Called federal Reserve to ask them, lady was oh so polite but of course, they hadn’t ‘furnished’ her with that information… So I called the OCC since they are the regulators, but the only number they have on their website is the bank complaint line and they won’t send your call to the correct ppl either, recommending you check their website or the IFR website, or federal Reserve, or call rust…. If I had gotten answers from any of those I wouldn’t be calling YOU!!! And one of the ppl actually hung up on me…

  • April 9, 2013 at 5:27 pm


  • April 9, 2013 at 5:36 pm

    I think it’s pretty crappy that we would get the card from Rust saying we are getting some form of restitution and then be told we will get more info on our payout at a later date. I finally recieved a modification from Ocwen(who bought my mortgage from Litton) and they were actually good to work with, but the heartache, bankruptcy and sleepless nights I endured will be with me for a long time. Thanks for the responses…at least I know I am not alone and have peeps who have my back!!

  • April 9, 2013 at 5:52 pm

    I was also with Litton, and never sent a packet so they could review my case. I think Litton and Saxon were added to the list the beginning of 2013, so I am thinking that is why we are not in the first batch of checks being issued. I sure hope they are fair to us, and not include us in those that did not submit a review request.

  • April 9, 2013 at 5:55 pm

    I have been trying to figure out what rescinded vs. completed foreclosure means in my case. we were in a trial plan, paid the payments, then denied after the trial payments were made. Went into foreclosure and then was able to short sell in the end. The foreclosure was never “completed” but I wouldn’t say it was “rescinded”. We still lost our home by the lesser of 2 evils with a short sale. There is a big difference in payout between the two. I can’t find anyone who can tell me what category an person that was able to short sell to avoid foreclosure would be in. Anyone have the same question???

  • April 9, 2013 at 7:38 pm

    I deed a deed in leiu of foreclosure with my bankruptcy …what catagory is that?

  • April 9, 2013 at 7:57 pm

    Hey guys, If I was approved for a loan mod trial with BofA and made my 6 payments but then they said they had to increase my payment and so I could not and house foreclosed, does anyone know what category I fall under?

  • April 9, 2013 at 8:05 pm

    Did anyone has heard anything about the credit restitution because whats the point of a compensation if we can’t get another house

  • April 9, 2013 at 8:14 pm

    From what I am understanding from an attorney friend is that most people will fall under other loans due to loop holes each bank was able to come up with. We tried to do a short sale but it never went through due to papers alwasy being lost and then the next thing we knew we were being foreclosed on. Also had been advised that the reason some people did not get the original packets is because they were sent to foreclosed addressed and once returned non deliverable were not sent out again and disgarded. I feel bad for those people that this happened too. It was not their fault if they did not receive it and get the chance to fill it out. This whole thing is a disgrace and embarrassment to all of us My family was torn apart, children made fun of in school and neighborhood gossip that caused pain to my children. I can never forgive the banks for what they have done to all of us and then do hear most of us will fall under other loans is just another slap in the face from this nightmare. I do believe in karma and these people will someday get what they all deserve.

  • April 9, 2013 at 9:55 pm

    I rather Aurora Loan to pour more salt in my wounds than send me a $300 check- They make money on the house they should of never took. What a joke

  • April 9, 2013 at 10:06 pm

    This settlement is garbage…ppl who actually lost their homes are getting lesser amounts than ppl who still have theirs…typical backwards government BS….also stay away from the foreclosure victims forum that someone posted a link here to…the mods work for the mortgage servicers….any meaningful posts are deleted!!!

  • April 9, 2013 at 11:35 pm

    Jennifer…I am wondering what category am in also as my forecloser is almost like your…but i was turned down twice for a mod..after they my lost paperwork many times. I got paper for my forecloser and was told when I had to be out of my house…after i left about a month later it went for a short sale…were i had to got to a office and sign paperwork for the short am wondering where i fall in at..
    This whole category thing is so confusing…and what there offering all of us is out right shameful !!!!!!

  • April 10, 2013 at 4:17 am

    Our house was foreclosed with Bankruptcy Chapte 13. What category will fall under? Thanks.

  • April 10, 2013 at 5:40 am

    What a let down… Most of us will recieve $500 for falling under “other loan” that turned in paperwork… again its just like winning the lottery if you get more money. Even though we all went thru the same thing… Its hard to take and disappointing. I am sure that all of us was expecting just a bit more than the $500.. a completed foreclosure that you fall under if you foreclosed and dont fall in any other catagory. Alot of unhappy people who really went thru some hard times… to only get $500 -$800 is beyond disappointing .. I think I just wanted alittle more to feel that all of the paperwork that I sent for them to review my loan -40 pages or more…At that point I really had hope… now forget it.. I believe this was a way to shut every one up saying we are going to look at what happened and try and comensate you. Thank you for your paperwork-here’s $500 for your time and effort. Its not even enough of money to pay back people who helped us thru this crisis.. Thats what is really sad. It does sound that the people will get more money who still have their home but the people who lost theirs will fall under other catagory. It doesnt make sense… we are at the mercy of what they THINK and DECIDE -no what we think what happened to us.. thats the hard part.. I see everyone posting what catagory should they fall under.. its sad.. Because what you might think is your catagory … it may not be.. who knows .. we will all soon see.. the checks are to be sent out by April 12th.. probably the lower checks.. Good luck to all and remember to post what you get.. because I can probably guess we are all going to fall under the same catagory.. $500 ” all Other”

  • April 10, 2013 at 6:27 am

    Not sure what category I’m in. About 3-4. Can you be in more than one? Who knows…. I guess we get a $200 bonus for sending in paper work. I can’t remember what I wrote when I sent it in. I wish I could resubmit my papers again. I know I did the loan modification but it wasn’t honored. Paperwork issues and delays. I’m expecting $500, but I might get lucky and get $6000, but not counting on it.

  • April 10, 2013 at 7:36 am

    Where to begin, lets start with this is total bullshit! There was over 9 Billion (oh wait have to count the 2 billion spent on reviews that were never even done properly!! So 11 billion actually) given to this foreclosure review process and they decide to only give over 3 billion to the people affected in cash payments and the rest goes to creating other services for individuals going through the foreclosure process?? Hmmm, sounds to me like the banks got another bailout! The money for this should have been used as strictly cash payments and the banks should have to follow whatever helpful services can be offered to homeowners who are facing foreclosure or having trouble making their payments, WITHOUT receiving any type of funds! It is their fault that people are having troubles financially with their mortgages to begin with, but hey lets give them more money when they do absolutely nothing to deserve it or serve the people!! The payment amounts determined are a joke to say the least! I dont know what this country is coming to, but I think it is time for the people to make a stand and pull together to take these bastards down for good! I am sure the top dogs in the big banks are laughing all the way home with their large bonuses they will get with the government money given to them for these so called plans to help the homeowners, how many bail outs can they get for real??!!?? If everyone would pull together and put in a small amount of money, say the crap payments we will end up receiving from this so called review, and turn around and hire a team of attorneys for the millions of us affected I guarantee we can take them down and get what we rightfully deserve! Seems like too many people are just afraid to take a stand and it is really quite sad, because we could really turn things around and keep anyone else from having to go through the heartache by taking this stand. Who needs their so called foreclosure assistance programs generated by the billions of dollars we will end us owing in the end again anyway? It’s not like they will really honor them anyway, they didnt the first time around what makes anyone think they will do it this time?? Makes absolutely no sense to me whatsoever. Time to take the country back for the people and by the people, not government or the big banks that are just to big to fail, BULLSHIT! Let them fall on their faces!! Where the hell were they when they needed to step up and help the economy? Oh thats right, they were too busy worrying about their millions of dollars they gamble and spend frivolously!! I certainly hope they reconsider these payment amounts and increase them tremendously because they are far from fair! I hope God makes things right for each and every one of us. Prayers to all. Sorry for the rant and the somewhat bad language, just really angry about this outcome!

  • April 10, 2013 at 8:36 am

    @unknown, that link you posted makes me really depressed. Its worse than the one the OCC published. I’m thinking I’m just better off going after the banks legally. My lawyer will be doing all the leg work anyway

  • April 10, 2013 at 9:04 am

    Question- once this all happens… Will the foreclosure be removed from my credit report? My life has just steadily gone down hill since I lost the house. Furthermore, I sent in those loan kid packets a million times and never got any response. I finally just called and arranged a time foe them to pick up my keys, which they called me right back and sent a man to get them. Funny that they could not return my calls, etc but when I gave up they were there within the next few hours!

  • April 10, 2013 at 9:32 am

    Sorry to hear of your situation. I spent an hour yesterday afternoon on the phone trying to get that answer.
    I contacted Rust Consulting (don’t even bother because all they do is read scripts to you after every questions) and the OCC (but only got an automated response telling me to visit their website or call other numbers) as well as the Consumer Financial Protection Agency (new government agency specifically in charge of overseeing and regulating the credit agencies). They told me to visit their website to log a complaint and that the credit agencies would be forced to look into the matter and I would get a response in 10-15 days.
    I guess I will try that because nobody seems to really have an answer to that question and I have resigned myself to fixing my credit because the $600 check I’m about to get it virtually worthless at this point other than paying 1 month of rent.

  • April 10, 2013 at 10:26 am

    I think it’s absolutely ridiculous and backwards… get everyone in a frenzy…postcards that TELL YOU NOTHING. Then we get the new framework… what about the most important question “what catagory do i fall under” THIS INFORMATION most def. should should be avail. to us…. But, JUST like everything else with this mess WHY would they use COMMON SENSE….. Not holding my breath for more than 300.00 which is an absolute JOKE! If checks TRULY are to begin disbursing on the 12th we all KNOW darn good well that they HAVE to KNOW what catagory we are in…..But, OF course they don’t want anyone to know cause then they have to deal with the OUTRAGE which i think 90% of us will fall in.

  • April 10, 2013 at 12:09 pm

    @Matt – You are completely wrong about the forum. It was set up by Nikki who lost her home under the same awful circumstances as most of us and she was posting on these blogs. A couple of people wanted to set up a facebook so it would be easier to keep posts together, but so many of us (me included) did not want to be apart of that because it shows up on our own facebook pages and we didn’t want all our facebook friends to know our personal business. Nikki said she could set up a formum that no one other than those who join to post on. As adminstrator she is the only one who can delete posts. I am on it regularly and have not noticed any posts missing. A couple of days after setting it up she posted that she had to delete one, but I believe it was because of bad language and possibly from someone who didn’t agree that any of us deserved a settlement check. It is actually to all of our advantage to join so we can get BIG numbers if we decide on a class action suit. Matt, I definately agree with you that we were ripped off by the biggest amount of money going to consultants/auditors and back to the banks. I think they are the only “winners” here – even those getting the bigger checks are not “winners” , because it is only a drop in the bucket to what was paid out in legal fees, payments, emotional stress… I encourage all of you to at least look at the forum to see if you feel you are interested in joining. A lot of good information is being posted and staying away from rumors – only articles from reputable sources.

  • April 10, 2013 at 3:13 pm

    Carol…I agree I joined yesterday….more ppl….big numbers… we all need to join forces..

  • April 10, 2013 at 4:01 pm

    Pretty Crazy – Filed a Ch 13 and was paying on my house through the Trustee for 6 months. US Bank comes in and ask to remove the Stay so they can foreclose and a judge grants it based on the negative {7K} equity in the house. The scary part is will I get $300 in the Other category or will I be correctly placed and get 31K.
    Unbelievable the stress this causes and we have absolutely no say.

  • April 11, 2013 at 3:00 am

    Did banks still looting low income US population ?
    More likely, yes !!!
    Keep US citizens out of cash is a target …

  • April 11, 2013 at 10:08 am

    Scared & Lonely–don’t get worked up again about this mess. I sympathize totally with you as the same thing happened to me. I couldn’t handle the stress and just gave up trying to deal with it.
    I don’t expect to get a decent payout as that would be completely out of character for PNC.
    Beyond this foreclosure mess is the mess of title which is completely trashed due to MERS. To buy a home in foreclosure is literally taking a quitclaim deed since no one can prove that they own all the bits and pieces of the property.

  • April 11, 2013 at 10:42 am

    Does anyone know where this fits… I filed Chapter 13 Bankruptcy to save my home. I made payments the to Bankruptcy courts on time. After I got sick I could not keep up the payments, so the court released the Relief of Stay on my home and I was placed in foreclosure. I converted over to a Chapter 7 at that time. So I was in Chapter 7 at the time of foreclosure. I eventually sold my home in a Short Sale, however was taxed by the IRS for the difference on my loan and what the house sold for (they say I made a gain of $9700). Does anyone know what this category this falls under? Is it “other” with a $300 payout?

  • April 11, 2013 at 11:39 am

    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…..

  • April 11, 2013 at 11:45 am

    They needed refund 20k to each applicant.

  • April 11, 2013 at 12:24 pm

    Warren is awesome.

  • April 11, 2013 at 5:20 pm

    everyone is only talking about what they will get $$$ nobody reads the whole post card i bet half of us will get part 2 “” or we will need more information ” im counting on the minimum 500 hoping for more to help pay my chapter 7 so i hope its a check and not a request that will tie up the $$ for months more im sure …

  • April 11, 2013 at 8:52 pm

    I had to pull money out of my pension to keep my home from being taken away.I’m talking almost 9000.00 with late fees! And when I did I was also taxed 25% penalty.Saxon was my lender.

  • April 12, 2013 at 2:09 am

    NO ONE is going to get what they truly deserve. $6000, $50,000, or $125,000. How do any of these amounts cure what damage has been done? IT DOES NOT IN ANY WAY.

  • April 12, 2013 at 4:34 am

    I agree. Anyone who even submitted a review should get $20K. I lost over 100K and my 401k not to mention my credit is destroyed. But I will end up with $500 which is a joke.

  • April 12, 2013 at 9:28 am

    We will be paying the IRS for the rest of our lives because of the penalties/high taxes from having to take money out of our 401K because of HSCB — not to mention not knowing how we are going to live without that money in a few years to come. Every year we had to extra taxes I wrote the IRS told them i didn’t have it – hense the reason I had to take the money out –and they sat up a payment plan for us. We pay $45 month.

  • April 12, 2013 at 1:17 pm

    The way the set up category set up by occ and consultant is not fair.
    what they should do
    Categroy Property that have totally foreclosed in 2009-2010 whether they declared Bk or not
    should be given $125K plus equity whether they are servicement or not
    Property that have foreclosed which was not supposed to be – not in default
    Property that have modified
    Accepted – homeowner stay in their home – get small check
    Denied and totally foreclosed – get large check also
    Property that have short sale and totally foreclosed – get large check also
    Federal should sued also the foreclosure lawyer as well as the sheriff and judges who
    let them foreclosed the property. Foreclosure lawyer also in conivance with their preference of realtor that they sold the foreclosed properties at very cheaper price.
    Federal should get the fee paid to consultant and return back to the homeowner

  • April 12, 2013 at 3:35 pm

    justin, i agree. but it isn’t going to happen. sit back and wait for all the class actions and join–not that you’ll ever get back what you deserve. waiting for the check is just reminding me of an awful, awful period in my life i never want to experience again. that’s why i’m not expecting what i truly deserve

  • April 12, 2013 at 4:27 pm

    agreee hotmess it was so awful, now this wait to be disappointed again is bringing back memories of screaming at idiots at the bank , droped calls , transferring to 7 diff departments before you get to your negotiator , i had 5-10 shortsales waiting on them they wait 6 months to reply , buyers withdrew the offers tried a deed in leau , cash for keys , i did it all , , realitors ,, omg realitors , bankers , lawyers , they should all be sent to an island in the middle of the ocean , “” within south korea’s missile range “” .. , god what a dark 4 year period of my life , now im on the state max allowed xannax , depressed / anxiety wish we could all sue the banks for what they did to us

  • April 13, 2013 at 9:20 am

    If you are a veteran because of our wonderful system you probably really got screwed. Not only did they get the VA fee you paid at the beginning to make sure they got the money back, but you lose your entitlement to ever get another VA loan They just keep ramming one up ya.

  • April 13, 2013 at 11:51 am

    I lost over 30k not to mention the 50k in equity i had in my home. i called rust consulting and all they could say was that i fell into 2 categories.

  • April 14, 2013 at 2:53 am

    I am totally confused regarding my situation. I filed bankruptcy while I was in my home trying to save it, but that only seemed to make my financial situation worse. My arrears were in my bankruptcy so I was paying the bankruptcy and still continued to try and pay the mortgage. Are a while we walked away from the home, we are still in the bankruptcy. An amendment was done to pull the house out of the bankruptcy and it was eventually disclosed. I’m still in the bankruptcy but the house wasn’t so would I fall in the category where my home was foreclosed while protected by the bankruptcy? This is all so frustrating and I don’t want to expect a certain amount and don’t get it. I finally put the bad memories behind me of those difficult financial times and now this may only make me feel like it will all be yet another DISAPPOINTMENT.

  • April 14, 2013 at 9:29 am

    The more I wait for the check, the more I feel I will be screwed again. The consultations made out better than the homeowners. I lost my home and now rent and will probably have to find a another location. I can’t stand to see those commercials on “the joy of Homeownership”, as I have no Home.

  • April 14, 2013 at 1:36 pm

    @ Confused I’am in a similar situation in bankruptcy but my house was in bankruptcy during 2009-2010 so that mean I was protected under the law. I understand what you’re saying but since you had the house taken out of bankruptcy it made no longer been protected under the bankruptcy law.the arrears or a part or your debit you are paying in your bankruptcy fee. as long as the house was in bankruptcy in 2009 -2010 u should fall under the bankruptcy category.I hope this help some good luck we all need it.

  • April 14, 2013 at 2:29 pm

    @Rox it will get better. Just work on rebuilding your credit. You can buy again. Don’t get in over your head with credit cards…take it slow and pay on time and you can buy again. It worked for us. Good Luck to you.

  • April 14, 2013 at 3:06 pm

    Do we know if any checks actually went out on April 12th? I’ve been searching OCC’s website and have not seen any verification of any body being sent anything. Maybe on Monday (the l5th) there will be some action. Let’s hope so. The suspense is overwhelming. Hopefully somebody responds soon with: “GUESS WHAT? I JUST RECEIVED MY CHECK!!!!”

  • April 14, 2013 at 3:45 pm

    We let our house go with a ch7 bankruptcy in 2009. I wonder if I will fall into the bankruptcy category or the “other” category?

  • April 14, 2013 at 7:53 pm

    @ Kim not sure if your house is included in chapter7. We were in chapter 13 when WF denied us a loan modification than foreclosed on our home. we are still in our home but this been a long hard fight but I am in it to win it.

  • April 14, 2013 at 8:38 pm

    I believe that if your bankruptcy was not dismissed at time of forecloser you would fall into bankruptcy catagory. I myself fall into this catagory but will be happy to receive $5000 only because i honestly couldnt afford the house after claiming bankruptcy cuz i was paying addl monies to trustee. BOA foreclosed on me anyway without my knowledge so i gave up and moved out. I think everyone that lost their homes should get the most money and others that saved their homes should get less, but thats only my opinion. Good luck to everyone!

  • April 15, 2013 at 6:36 am

    I think the payout is backwards and agree that the service men and women and people completely foreclosed on should recv the highest payout. Our home was taken within 2 months…… our stress and suffering isnt worth more than 300 dollars? Those lucky enough to stay in there homes are gonna get lower payments and larger checks, doesnt make sense, but congrats to those of you getting larger checks. Be prepared though cause uncle sams gonna have a field day with those come 2014.

  • April 15, 2013 at 11:09 am


  • April 15, 2013 at 11:14 am

    What was your story Mike? What state are you in? Was there any explanation that came with your check that explained how they came up with the dollar amount?? Did you request a review?

  • April 15, 2013 at 11:28 am

    Anyone get any checks yet? Was it in regular mail or was it certified?

  • April 15, 2013 at 11:59 am

    certified mail? i’d be surprised. That would imply that they care if you receive it.

  • April 15, 2013 at 12:22 pm

    mike, it looks like a payout on the $1000 is for a modification denied? correct?

  • April 15, 2013 at 12:39 pm


  • April 15, 2013 at 12:42 pm


  • April 15, 2013 at 12:45 pm


  • April 15, 2013 at 1:01 pm

    Why do you think you got 1000? I was denied a modification and my house was foreclosed. I’m wondering how much I will receive. I did request a review and I’m in CA.

  • April 15, 2013 at 1:04 pm

    Oh and I never filed bankruptcy and I was never on trial modification plan. I’m expecting 500…??

  • April 15, 2013 at 1:17 pm

    I am curious how all this is going to go and what people will get. Our house was foreclosed after a long and fustrating time. We did the 3 month trial mod and was told we would know our payments after that then said we were denied and was given 2 different payment agreements to catch us up however the balloon payments were to big and we eventually had the house foreclosed on. It was a mess. Guess everyone will fall into a category but it will depend on what the banks deleted and hid to cover their own butts.

  • April 15, 2013 at 1:52 pm

    the only modification i was offered took my payments to more than i was already paying and it was a joke. how is that a modification? i was in bankruptcy when they foreclosed (chapter 13–filed thinking stupidly that the trustee would have an interest in preserving the asset and that maybe Congress might grant the trustee the power to mitigate the mortgage amount……hahahahaha). When they did foreclose i was in the chapter 13 but i can’t believe that i’d be classified in that small category that pays out $61k. i was hoping PNC would also be in the National Mortgage Settlement but so far i haven’t heard anything.

  • April 15, 2013 at 4:35 pm

    Got 2000 in a check today… My father and I was on the loan together , he idied in 2011. How would I cash the check, both names are on the check.

  • April 15, 2013 at 5:32 pm

    @lost my home: if your name is on the check, you should be fine as long as you provide your dad’s death certificate when cashing it. Just a thought. 🙂

  • April 15, 2013 at 5:37 pm

    @lostmyhome all you have to do is show the bank your father’s death certificate.. good luck all…

  • April 15, 2013 at 6:58 pm

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

  • April 15, 2013 at 7:07 pm

    @SoCal, what were your circumstances?

  • April 15, 2013 at 9:16 pm

    @ Lisa, I went through the making homes affordable modification program and made the required “trial” payments + an extra 2 or 3 months worth of payments waiting for a contract.
    So I completed the trial and the house was still foreclosed on shortly after. Some peole will luck out, but sad to say….. most will not!!

  • April 15, 2013 at 10:32 pm

    We recieved 500.00 today. We had 3 different categories we fell into, and they choose the one we didn’t fall into. Very sad……..

  • April 15, 2013 at 11:13 pm

    keep posting updates as to who gets their checks and where ur located….. reading all of these kinda keeps my hopes up. Checking the mail each day @ 1, almost to the point of curiosity now, just to see how much.

  • April 15, 2013 at 11:39 pm

    I Received a check for $ 2,000 today. I am currently in foreclosure. The bank failed to get me into a modification over the past few years. I am still in my house and now i have this extra 2k. I received the post card a few weeks ago. Today the check game via regular usps mail. It was a pretty non descript envelope from rust consulting. Almost could be mistaken for junk mail. I am sure they would like it if people threw the checks in the trash by accident. It did NOT come certified mail or anything like that. Supposedly you did not have to do anything to receive these payments. In other words you did not have to apply. I was hoping for 10k or more, and i was also hoping i did not fall into the 500 dollar category. So 2000 bucks is ok by me.

  • April 15, 2013 at 11:48 pm

    @Kelly, good luck to you!!!!

  • April 15, 2013 at 11:50 pm

    The way i see it is its a found 2 grand. Also of note i had a home equity line of credit with wells fargo. It was for $110,000. I received a letter about 6 months ago that due to the settlement with the states attorney generals that they FORGAVE my 110,000 home equity loan. In other words they wiped it out and i do NOT owe the money. Its just gone. So personally i cant complain as i do not ever have to worry about paying that back . 110k wiped out from the attorney generals settlement and then this 2k in cash today. So in effect they FORGAVE my HELOC loan that was LARGE, and they gave me 2 grand. I doubt i will save my home. but at LEAST i am not on the line for the 110k. I have been in foreclosure for 4 years now and have not made mortgage payments since 2009, thats 4 years of mortgage free living. Then they sent me the 2 grand. Again i think its doubtful i save my home , but i did live in it for 4 plus years, going on 5 years without making any mortgage payments and now they paid me 2 grand and took away the 110 k i owed from the HELOC. I am one that cant complain at all. i made out very well thru my hardships of my loss of and my wife.

  • April 16, 2013 at 12:02 am

    Doing some research. I have been looking at the charts for payments. I REQUESTED A REVIEW in 2012…so i got the full 2 grand. Others that DID NOT REQUEST A REVIEW got only 1,000 that were in my same situation, which was “modification request denied” IF YOU WILL NOTICE …many payments are DOUBLED if you requested the review last year..IF YOU DID NOT then you are cut in half. ALSO if i was already foreclosed on and the foreclosure was COMPLETED and i moved out already then i would have tripled my payment to 6 grand instead of the 2 grand i received today.

  • April 16, 2013 at 12:45 am

    crunched some more numbers. Only about 30-40 thousand people will be getting checks that are SIZEABLE. Which is in that 6 k to 125k area. The other 3.9 million people are getting checks in the area of 300 bucks to 2k. the way i see it the average joe gets about 800 bucks. I feel fortunate based on this that i got 2 k. ALSO most of the payments are going to people like myself , people who either got mods, or were denied a mod for some reason (me) . that is like 3 million people plus of the 4 million .

  • April 16, 2013 at 4:32 am

    Checks are coming in all over. Most are getting $500 which is the lowest amount if you requested a review. The highest I’ve seen is $6000 by two people. Another guy got $3000, but he didn’t request a review. If he did, he would have had $6000. Several people also received $300 which is the lowest. I called Rust and my check isn’t mailed yet.

  • April 16, 2013 at 6:46 am

    I am an active duty Marine that was foreclosed on in 2009. This is after being overseas and submitting 2 loan modification request that both did not get answered. After using our life savings to stay afloat and pay the mortgage I was forced to file chapter 7 bankruptcy. I almost lost my family at the same time. The fact that the government got involved is great but on the other hand the banks did not take the government serious in any way. Today I recieved a check for 600 dollars. This is a great slap in the face for them violating the law that says not to foreclose on active duty military. And yet they do these things and get away with it. Us the peasants of the country would have been thrown in prison for not paying or share. We are taxed on our pay then we pay taxes on purchases at the store. Then pay taxes at the end of the year. All this to still be treated like the lowest things imagined.

  • April 16, 2013 at 1:58 pm

    This is crazy! I got the SOOO anticipated check only to get $500! Now I wonder what are they going to do the other 6.3Billion that its supposed to go to lower the principal balances on the homes of those people that were able to keep it. Perhaps they are going to lower the principal for another $500!!!!

  • April 16, 2013 at 4:22 pm

    I got $500 today. You can read my story further up. Basically we tried for a year to get a modification until they tried to foreclose, then we filed bankruptcy to save the home. My attorney fees alone were $3500. I filled out the review forms, so at least I got $500 and not $300?
    It’s disheartening.

  • April 16, 2013 at 5:13 pm

    Got my checks for $6,000, I guess it’s better then nothing. WF foreclosed my house…will not modify my loan no matter how many times I submitted my document in. Has been fighting with them over a yrs and still getting the same answered so I just give up. As much as I love my house I can’t stay in there I just give up. Bought the house for $360,000 and it was sold for $197,000…when they should have just give it to me at that price,I would have a place to call home now. But nope….they were selfish and just think about the self. I still blame on the government becuz they bail all the bank out without holding any accountability that is why is such a mess right now. This should be a lesson for them to learn to not bail any bank out! I hope WF go and fixed my credit so that I can start buying a home soon.

  • April 16, 2013 at 7:14 pm


  • April 16, 2013 at 7:50 pm

    Can you elaborate why NO NEWS IS GOOD NEWS? Thanks

  • April 16, 2013 at 9:25 pm

    Has anyone heard of anyone getting more than the 5000 or 6000?

  • April 17, 2013 at 12:26 am

    I’ve read of those who live in Florida getting checks. I haven’t seen anything yet. I live in Utah. We had far less foreclosures than Florida. They were in the millions, while we were thousands.Maybe the mailing priority is working from East to West? I called B of A two times inside of a month back in 2010, only to be told BOTH times I called back to check on the status of my modification, that they had no record of me calling, and there wasn’t a modification. I sent in the review last year, and received the post card a few weeks ago. It’ll be interesting to see what they pull out on this one. The fact that the banks themselves are administering the payments, and paid/are paying Rust to do this, really tells the tale of why this has turned out to be such a disaster. Banks do only one thing correctly; take your money. After that, everything is greed and retardation.

  • April 17, 2013 at 6:19 am

    Has anyone who was with pnc recieved anything yet ? Let me know

  • April 17, 2013 at 10:22 am

    Has anyone in Texas, and with Bank of America, received a check?

  • April 17, 2013 at 11:22 am

    @pat I was with PNC and received my check yesterday 04-16-13.

  • April 17, 2013 at 11:44 am

    mogirl mailman has not ran yet . will let you know if i get something .thanks for letting me know I live in illinois

  • April 17, 2013 at 11:56 am

    mogir mailman came did not bring anything but few fliers.
    I hope and pray you use some of the money for a nice dinner for yourself

  • April 17, 2013 at 1:07 pm

    @pat I am sorry you haven’t gotten yours yet, but maybe (fingers crossed) that means you will get a bigger piece of the pie than I did! And thank you, I plan on taking my 14 yr old daughter out for a nice date night with mom! 🙂

  • April 17, 2013 at 2:59 pm

    I received my settlement check yesterday for $6000. We were denied modification 3 times. The below link shows how the figures were established. My question is, what would classify you as bing in the group of:
    Servicer initiated or completed foreclosure on
    borrower who was protected by federal
    bankruptcy law
    The reason I ask, is we filed for Bankruptcy and included our home in the filing. Our debt was discharged in January of 2009. I then nlost my job, and was unable to pay the mortgage. Tried to get a modification and was denied. Once I got a new job, they still would not modify. After 2-12 years of trying we gave up and gave in. Nearly 3 years after the first phone call they took posession of the home. Would I not be in that category of bankruptcy protection? Even after the debt was discharged in bankruptcy, we were still foresclosed on.

  • April 17, 2013 at 3:40 pm

    @Nate I am wondering the exact same thing!!! I have been ALL OVER THE INTERNET, blogs and forums trying to find out how anyone would fall in the Category. I have not received anything yet but my situation is very similar.

  • April 17, 2013 at 3:45 pm

    Let’s face it, there are NO $50,000 checks.

  • April 17, 2013 at 3:53 pm

    @Nate I SHOULD have fallen into the Modification Denied category myself as I was denied 3 times as well but instead they put me into the “no loss mitigation” category and I only received $600. I think it is merely luck of the draw and they are just placing people in categories at some sort of random.

  • April 17, 2013 at 4:06 pm

    has anymore got a check from jp morgan chase. Rust is no help they wont tell me anything

  • April 17, 2013 at 4:21 pm

    I got my check for $6,000 yesterday from WF. They would not modify my loan…or let’s put it this way, they denied me three times too. Have been fighting with them over a yr so nothing seem to be working so I just give up. And of course I did apply for the review so that is probably why they double my amount. It’s better to get something then nothing. I am waiting for the next check from the national mortgage settlement in May.

  • April 17, 2013 at 4:55 pm

    Hey Sherry I am also waiting on a check from JPMorgan Chase, and you are correct Rust will not give any time frame of when my check will be released. I also had a hard time trying to get my loan modify back in 2008. They left me no choice but to file for Chapter 7. My attorney and I deed the property back to them. Six months after it was discharged they try to get my to take the property back, I said hell no, when I wanted to Modify the loan they would not work with me. I now live in apartment by choice, and would rather pay 1500.00 a month for rent than deal with any of these big banks. America’s Greed. Greed is never good.

  • April 17, 2013 at 5:12 pm

    Has anybody received payment from US Bank or in OHIO

  • April 17, 2013 at 7:18 pm

    I am waiting for mine too… From chase. My story is long… Paid good faith payment and was all set with a mod when the government gave my account to chase… They made me start over and said I had to pay again even though they got the good faith in the transfer and could see it on the computer but no one could let me talk to anyone… Call back was all I got… Then foreclosure papers after calls every day to them from Jan to April. Moved out and someone was living in our house within 5 mo. We were not under water. We just needed a mod for payments when my husband was injured and lost his job.

  • April 17, 2013 at 8:30 pm

    We called Rust and they told us our check was mailed out on the 12th, but still no check. We called today and the guy said he couldnt say if our check had been mailed and to be patient. We could have it end of this week or next.

  • April 17, 2013 at 8:42 pm

    Hey everybody, I was just wondering has anyone received payment from suntrust mortgage.If so, whats the amount of payment from rust consulting. State Nc.

  • April 18, 2013 at 12:31 pm

    I didn’t know anything about this until i got the post card from Rust…I received a check for 1k from JP Morgan Chase on 4/15 really for doing nothing. We were late a couple of times (this is a rental property for us) but that was it!! I really feel sorry for some of the people on this post. You lost your house and only got $600 dollars. I’m in GA

  • April 18, 2013 at 9:59 pm

    …you have to have been in a bankruptcy and the banks Atty filed a foreclosure proceedings I would assume that’s what that statement means
    Forclosure filed while in an active bankruptcy

  • April 18, 2013 at 10:40 pm

    This was posted on another blog. Those interested sign up.
    If you are interested in a possible class action or if you are just needing the latest up to date info on the IFR mess, visit I, along with volunteers, are working to get as much information as we can. There soon will be a forum and the ability to share your story with everyone

  • April 19, 2013 at 9:23 am

    Has anyone in San Antonio, Texas received a check from Bank of America? I’m still waiting.

  • April 19, 2013 at 9:43 am

    called Rust yesterday told my check was not mailed out yet. I was with PNC. Foreclosured on in 2009 after doing a trial modification and PNC which bought my original bank out National City Mortagage. If we do class action . With as many people being stiffed. How much will we get after lawyers fee

  • April 19, 2013 at 10:37 am

    Been watching this forum since late March now. Pretty much expecting the usual $300. From reading other posts, I’m now curious if I may fall into the foreclosure initiated while in process of filing for bankruptcy category. Chase started forclosure on us in 2009. I filed for Chapter 7 in April of 2010. My bankruptcy was completed around november 2010. I received many certified letters re: stay being lifted, and foreclosure proceeded. After speaking to probably 40 different people at Chase and sending in the same stack of copies over and over, I was continually assured that we could still avoid foreclosure. Jumped through every fire hoop they put out for us, applied for modification multiple times, to no avail. Finally put house for short sale, to no avail. Chase told me deid in lieu was our final option. I again made the same set if copies, sent in. Only to be told they were missing one page, and that we didnt qualify now because of time frame. They finally foreclosed dec of 2012. I literally felt as though I carried that house on my back for 3 yrs. I, as of yet haven’t received a check. We are still very strapped for cash do to a very lengthy lay off for my fiancé. I was hoping for my $300 by now to help with some bills. I really don’t understand much of this. If, by reading this, anyone can shed some light for me, I’d very much appreciate it.

  • April 19, 2013 at 10:57 am

    @Julian – Great insight! Please keep crunching the numbers.

  • April 19, 2013 at 2:36 pm

    Found out from Rust that my check was mailed out today…..We will see how much….

  • April 19, 2013 at 3:34 pm

    Call Rust today….my check not mailed yet. Can this please not be another 3 yr battle w Chase, like my foreclosure was?….if I have to wait until August for $300…..unbelievable

  • April 19, 2013 at 3:40 pm

    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.

  • April 22, 2013 at 12:22 am

    I say we all file class action suit on these stupid banks. They screw us & take our homes but the government bails them out every time, cause the government owns the banks! What little payouts there giving to people is a huge slap in the face! Rust consulting are the ones making out like bandits. I feel sorry for everyone who has gone through what I’ve been through. I managed to sell my home before Chase foreclosed, but I didn’t want to sell my home. I was forced into selling my home, so they pretty much took my home from me. I played the game with CHASE for 3 years. I completed my trial period and never got my modification. The way I see it, if they forced u to sell your home or took your home they should atleast have to compensate each person what they invested in that home. A few hundred dollars is hardly compensation for taking someone’s home. As of now, I’ve received no check. I fall into 4 categories but I don’t forsee a big check coming. We all need to stick together in this fight. We can’t continue to let them do this to us or anyone else. Good luck to all & don’t spend your big checks in one place now! That’s a joke!

  • April 22, 2013 at 6:59 am

    This waiting and wondering is gonna make me crazy. : /. I called Rust Friday. Mine hasn’t been mailed yet. Think ill call this morning and see what answer I get today.

  • April 22, 2013 at 7:51 am

    Just called. Apparently mine WAS mailed Friday. Geez…

  • April 22, 2013 at 11:39 am

    I’m with B of A my check is in the 3rd chapter of this Tragedy !!

  • April 22, 2013 at 11:57 am

    I was with Litton Loan (Goldman Sachs) so I still don’t even have an idea of what the payouts are.
    My Story (shortened)
    My husband lost his job in Feb. 2009, requested loan modification, sent in all paperwork, hardship letter, got trial modification. Paid all 3 trial mod. payments on time, called Litton about permanent modification paperwork, they said they are on the way, just pay another mod. payment. Called again, said they never recieved a certain paper, to send ALL documents in again, sent all in again, they put us into ANOTHER trial modification, but payment were $300 a month more, we struggled because we had been in our home for over 10 years and put a lot of time and effort into it. So after making the first 2 higher trial mod. payments, we receive paperwork in the mail putting us into ANOTHER trial mod. this time payments were only $150 lower than our original payment. NOw as you all know, all over the paperwork it tells you if you are still having problems, to call they have other programs to help. I called Litton and they told me to walk away from my home and let it forclose!! I cannot tell you how many times they were “missing” a document that I “hadn’t” sent them. It was all basically a run around and scam. Goldman Sachs received a HUGE chuck of the bank bailout money, they had no incentive to help us. THe best part? We owed $207,000 on our house and they sold it at auction for $49,000.

  • April 22, 2013 at 12:35 pm

    Same here but with Wilshire 3. 3 month trials then loan sold to B of A and they didn’t honor omod…then applied for mod with them only to get denied over and over again …..then loan sold again !!!

  • April 22, 2013 at 2:04 pm

    I just called Rust Consulting, and got transferred to someone handling the Litton cases. He said the LItton and Saxon checks should be going out at the beginning of May. I also read that the next wave of checks go out April 26th and another on May 3rd.

  • April 22, 2013 at 2:18 pm

    @dj, I was in the same exact boat. Did you get a check yet? I was put on a mod only to be told loan payment was going to be higher and they could not honor the mod payment they put me on. Not sure how much money I qualify for

  • April 23, 2013 at 1:24 pm

    @Chris. no check yet …in 3rd wave…should get $6000 or more !!

  • April 23, 2013 at 1:41 pm

    @dj, thanks. I hope the number is up there. I’m really concerned a $300 check will arrive in my mailbox. I do fall in the $50k cat but not sure if they will include me in that error rate of 6.5% they found. I dont know why the dept of justice cant put a freeze of some assets on these local banks until they pay everyone properly. They can shut down banks anywhere else in the world with a click of a button but our banks are too big I guess… scam

  • April 23, 2013 at 3:01 pm

    I received a check for $3750

  • April 23, 2013 at 4:00 pm

    I also fall in the 50K category but got my check for $6000 yesterday. In Arizona.

  • April 23, 2013 at 4:07 pm

    I got my big fat $500 check, what a joke! Doesn’t even come close to compesation for the Hell Bank of America and Freddie Mac have put me through. Won’t make a dent in the doctor bills for the ulcers I know have.

  • April 23, 2013 at 9:27 pm

    I requested a review, verified that they received my request and received $300. That’s the minimum for those who did NOT request a review. Sad, but true.

  • April 23, 2013 at 10:08 pm

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

  • April 24, 2013 at 7:51 pm

    Waiting for my check I am in the next 4/26 mailing wave. I am still being hopefull…will update once the check is in my hands.

  • April 26, 2013 at 8:26 pm

    I am very happy for all of you but what will everbank do. I think we got left out in the cold
    . I love living without my house back haha

  • May 6, 2013 at 5:30 pm

    Well, I just received a letter asking for more info for the w-9.
    That leads me to believe that I would not be getting anything under $500 as I would not need to claim that on my taxes, anything under $500, and I do not need a w-9.
    So, maybe I may get more than $500.?
    Wishful thinking!

  • May 9, 2013 at 10:45 pm

    I got the letter also, they originally told me my check would go out May 3rd, now I got this letter and W9. Very curious

  • May 12, 2013 at 6:42 pm

    Let me know how it goes on your end!

  • September 10, 2013 at 2:13 pm

    Getting no where with Rust Consulting Customer Service Dept. No one will provide me with any answers. It’s been over 8 months since I received a post card, (sent to the wrong address), and still no check. I’ve corrected my address several times and even mailed them a copy of my drivers license that they requested to update my address. Still no check! I’ve spoken to supervisors who offer no help, are rude and just aggravate me to no end. There processes are nonfunctioning and ridiculous. Whoever would hire Rust Consulting after this fiasco needs to have their heads examinded.

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