Visit optionarmclass.com and file claim to get your refund of $500 to $5000 in Bear Stearns Option ARM Class Action Lawsuit Settlement.
BSRMC (Bear Stearns Residential Mortgage Corporation) has reached the court as some of their customers have filed a class action lawsuit against the company that the company’s Option ARM Loan documents failed to make complete and accurate disclosures. If you have come across an Option Adjustable Rate Mortgage Loan, which was purchased by EMC Mortgage Corporation during the period of August 28, 2003 and March 29, 2013, then you are eligible to file a claim to get refund of $500 to $5,000.
As per Bear Stearns settlement, class members have complained that Option ARM Loan documents were misleading about mortgage loan. As company has failed to disclose it by making the minimum monthly loan payment at the beginning of loan term and it has made increase in the principal balance of mortgage loan.
Company has denied of any wrong going, but has agreed to do settlement. As per Bear Stearns, the Option ARM Loan documents are rightly described with minimum monthly payment plus negative amortization. Still Bear Stearns has agreed to settle the class action by paying cash to class members as per their loan amount.
To be eligible, all class members must have obtained an Option ARM Loan secured by real property located in California between August 28, 2003 and March 29, 2013 and it must be originated by BSRMC or one of 56 other Option ARM Loan originators. Besides, all these eligibility, class members must satisfy the following characteristics to claim for refund:
Official site of Bear Stearns Option ARM Class Action Lawsuit Settlement: optionarmclass.com
Address to exclude yourself from the class action:
If you do not want to become a part of the settlement, then you can exclude yourself from the class action lawsuit by mailing your personal details and objection/exclusion to the following address:
Monaco v. Bear Stearns Residential Mortgage Corp.
Settlement Administrator
P.O. Box 43154
Providence, RI 02940-3154
Refund: $500-$5000
Class Counsel:
Jeffrey K. Berns
Lee A. Weiss
BERNS WEISS LLP
Defense Counsel:
LeeAnn Pederson Pope
Victoria R. Collado
Andrew D. LeMar
BURKE WARREN MACKAY & SERRITELLA PC
BSRMC (Bear Stearns Residential Mortgage Corporation) has reached the court as some of their customers have filed a class action lawsuit against the company that the company’s Option ARM Loan documents failed to make complete and accurate disclosures. If you have come across an Option Adjustable Rate Mortgage Loan, which was purchased by EMC Mortgage Corporation during the period of August 28, 2003 and March 29, 2013, then you are eligible to file a claim to get refund of $500 to $5,000.
As per Bear Stearns settlement, class members have complained that Option ARM Loan documents were misleading about mortgage loan. As company has failed to disclose it by making the minimum monthly loan payment at the beginning of loan term and it has made increase in the principal balance of mortgage loan.
Company has denied of any wrong going, but has agreed to do settlement. As per Bear Stearns, the Option ARM Loan documents are rightly described with minimum monthly payment plus negative amortization. Still Bear Stearns has agreed to settle the class action by paying cash to class members as per their loan amount.
To be eligible, all class members must have obtained an Option ARM Loan secured by real property located in California between August 28, 2003 and March 29, 2013 and it must be originated by BSRMC or one of 56 other Option ARM Loan originators. Besides, all these eligibility, class members must satisfy the following characteristics to claim for refund:
- The interest rate paragraph in loan document must state a “YEARLY” interest rate, i.e. less than the index plus the margin and that the interest rate “MAY” change.
- “Initial monthly payment” of your loan must be based on the interest rate of year.
- Your loan papers must not contain any statement that after the first interest rate change date, paying the amount listed as the “initial monthly payment” will result in negative amortization or deferred interest.
Highlights of Bear Stearns Option ARM Class Action Lawsuit Settlement
Official site of Bear Stearns Option ARM Class Action Lawsuit Settlement: optionarmclass.com
Address to exclude yourself from the class action:
If you do not want to become a part of the settlement, then you can exclude yourself from the class action lawsuit by mailing your personal details and objection/exclusion to the following address:
Monaco v. Bear Stearns Residential Mortgage Corp.
Settlement Administrator
P.O. Box 43154
Providence, RI 02940-3154
Refund: $500-$5000
Class Counsel:
Jeffrey K. Berns
Lee A. Weiss
BERNS WEISS LLP
Defense Counsel:
LeeAnn Pederson Pope
Victoria R. Collado
Andrew D. LeMar
BURKE WARREN MACKAY & SERRITELLA PC
No comments:
Post a Comment