Bank of America Horn Settlement for overpaid interest

File your claim to the Bank of America Horn Settlement at www.HornSettlement.com and get 75% refund of your overpaid deferred interest or minimum $40.

Financial companies are known for their accurate work, no matter how many customers they are dealing with regularly. But it may happen that big companies do mistakes that sometimes lead to big damage. The bank of America has settled down the Horn Settlement, in which every eligible class member can get refund of $40.

As per the allegations of plaintiffs, Bank of America has failed to report the internal revenue service of $1.5 billion in mortgage interest, which had actually paid by mortgage borrower. Due to this announcement failing, mortgage holders have to pay taxes for tax years 2009, 2010, 2011, and 2012 or they can not claim their payments of deferred interest in those years. Bank of America has denied that they have not made their borrowers to overpay taxes but agreed on the settlement.

Only those class members, who have done payment of deferred interest on their option adjustable rate mortgage (ARM) with bank in following years 2009, 2010, 2011, 2012, or 2013, are allowed to file claim. Even those borrowers who have completed their mortgage load but had the option of ARM are also eligible to claim there refund into the class action.

All class members will get refund as described below:

• Every eligible class member will get minimum refund of $40.
• If any class member has paid deferred interest in tax year 2009, he will get refund of 75 % of the approximate tax deduction value of payments.
• If any class member has overpaid deferred interest in tax year 2010, 2011, or 2012 then, he will get $40 refund and they have to fill amended Forms 1098 for further benefits.
• IF you have paid your deferred interest in tax year 2013, then class member has to fill the 1098 form for payments.
• For more information regarding the class action, visit www.HornSettlement.com. Last date to file your claim is July 13, 2014.

Highlights of Bank of America Horn Settlement:

Official site of Bank of America Horn Settlement: www.HornSettlement.com
Link to download claim form online: www.HornSettlement.com

Address of mail your completed claim form and proof of purchase details:
Horn Settlement
c/o GCG
P.O. Box 35113
Seattle, Washington 98124-5113
Email: info@HornSettlement.com
Phone: (877) 899-4117

Last date to file your claim form: July 13, 2014
Refund: minimum $40

Class Counsel:
David J. Vendler, Esq.
Morris, Polich & Purdy LLP
Michael R. Brown, Esq.
Michael R. Brown, APC
Jeffrey D. Poindexter, Esq.
Law Office of Jeffrey D. Poindexter

Defense councel:
Peter B. Morrison, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
Image source: Flickr, MoneyBlogNewz