National Mortgage Settlement

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 Notices were sent to all borrowers meeting the following eligibility requirements:

  • The mortgage loan was secured by the home in which they lived or intended to live at the time they took out the loan and it was a 1-4 unit residential property.
  • The mortgage servicer was one of the following:  GMAC (Ally), Bank of America, CitiMortgage, JP Morgan Chase or Wells Fargo.
  • At least 3 payments were made on the mortgage loan.
  • The home was lost to a foreclosure sale between 1/8/2008 and 1/31/2011.
  • The unpaid principal balance on the 1st mortgage did not exceed $729,750 for a 1 unit property, $934,200 for a 2 unit property, $1,129,250 for a 3 unit property or $1,403,400 for a 4 unit property.

All eligible borrowers were mailed a claim form in September and October of 2012.  The claim form contained a Claimant ID that is required to submit your claim.  If you did not receive this claim form and think you may be eligible, gather the following information and contact a customer service representative at (866) 430-8358 Monday-Friday 7am to 7pm central standard time.

Name
Mailing address
Telephone number
Loan number
Servicer name
Property address
Last 4 digits of your social security number

The deadline to submit the claim forms was January 18, 2013 but the settlement administrator has indicated that claim forms that are properly completed and received in the next few weeks, may be processed.

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