Tuesday, March 25, 2014

How to Claim National Mortgage Foreclosure Settlement?

File your claim into the National Mortgage Foreclosure Class Action Settlement at www.nationalmortgagesettlement.com to get refund of $1,400.

In today’s costly lifestyle, it becomes nearly impossible for middle class people to purchase their dream home without taking financial help from bank in the form of home loan. Sometimes, big financial companies do mortgage foreclosure that leads to loss on borrower’s side by losing home. To reduce the illegal mortgage foreclosure, US federal government has declared a historical combined state-federal settlement in the National Mortgage Foreclosure Settlement for country’s five largest mortgage servicers: Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo.

National Mortgage Foreclosure class action Settlement, National Mortgage Foreclosure Settlement agreement

Federal court has investigated against all five financial companies and found that without acknowledging a public legal representative, companies have routinely signed foreclosure related documents. These illegal actions of financial organization violate the federal laws.

National Mortgage Foreclosure Settlement offer refund benefit to borrowers, who own home loan from any of the five banks: Ally/GMAC, Bank of America, Citi, JPMorgan Chase, and Wells Fargo. But borrowers of Oklahoma are not eligible for benefits of the settlement. In the National Mortgage Foreclosure class action Settlement, borrowers, who have lost their home due to foreclosure during the time period of January 1, 2008 to December 31, 2011, are eligible to become a part of the settlement. For any additional information, you can call to National Mortgage Settlement Administrator at 1-866-430-8358.

For being eligible to file claim into the National Mortgage Foreclosure Settlement, you must have to satisfy below criterias:
  • Loan must go to foreclosure sale between January 1, 2008 and December 31, 2011
  • Borrowers must have taken loan from one of the five financial group that included in settlement
  • Borrowers need to make minimum three installments of loan
  • At the time of origination of loan, borrowers must live in or intended to live on property, for which he has taken loan.
  • Borrower property needs to be a one-to-four unit residential property.
  • The unpaid principal balance of the first-lien mortgage loan could not exceed $729,750 for a one-unit property; $934,200 for a two-unit property; $1,129,250 for a three-unit property; or $1,403,400 for a four-unit property.
If any borrower, still feels confused that which specific loan modification programs they will get from the settlement, then they can contact their mortgage service provider bank. Contact numbers for financial organizations are given below:
  1. Ally/GMAC: 800-766-4622
  2. Bank of America: 877-488-7814
  3. Citi: 866-272-4749
  4. JPMorgan Chase: 866-372-6901
  5. Wells Fargo: 800-288-3212
Every eligible borrower will get refund of $1,400 as per the agreement of National Mortgage Foreclosure Settlement. For getting the claim form for National Mortgage Foreclosure Settlement or any other inquiry, visit settlement’s official site www.nationalmortgagesettlement.com.

Highlights of National Mortgage Foreclosure Settlement:

Official site of National Mortgage Foreclosure Settlement: www.nationalmortgagesettlement.com
Minimum refund: $1,400
Settlement Administrator number: 1-866-430-8358

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