HomeLatest NewsFeatured HomebuildersHome Buyer ResourcesBinding ArbitrationResource LinksSubmit ComplaintsView ComplaintsTake Action 101!Report Mortgage FraudMortgage Fraud NewsForeclosure NewsConstruction DefectsHome DefectsPhoto GalleryFoundation ProblemsHomeowner Website LinksHOA Reform
Main Menu
Home
Latest News
Featured Homebuilders
Home Buyer Resources
Binding Arbitration
Resource Links
Submit Complaints
View Complaints
Take Action 101!
Report Mortgage Fraud
Mortgage Fraud News
Foreclosure News
Construction Defects
Home Defects
Photo Gallery
Foundation Problems
Homeowner Website Links
HOA Reform
Featured Topics
Builder Death Spiral
Report Mortgage Fraud
Foreclosure Special Report
Mold & New Home Guide
Special News Reports
Centex & Habitability
How Fast Can They Build Them?
TRCC Editorial
Texas TRCC Scandal
Texas Watch - Tell Lawmakers
TRCC Recommendations
Sandra Bullock
People's Lawyer
Prevent Nightmare Homes
Choice Homes
Smart Money
Weekly Update Message
HOBB Archives
About HOBB
Contact Us
Fair Use Notice
Legislative Work
Your House

 HOBB News Alerts
and Updates

Click Here to Subscribe

Support HOBB - Become a Sustaining Member
Who's Online
ABC Special Report
Investigation: New Home Heartbreak
Trump - NAHB Homebuilders Shoddy Construction and Forced Arbitration
Texas Mortgage Fraud Dispenses $7.46M of Justce
Thursday, 30 July 2009

Countrywide to dispense $7.46M to Texans
Texans eligible for a portion of the payout will soon be receiving a form in the mail to fill out to request restitution, according to the Attorney General's office. The office of Texas Attorney General Greg Abbott said the program to reimburse Texas homeowners was first announced in February. Only customers who took out Countrywide loans between Jan. 1, 2004 and Dec. 31, 2007 are eligible.

Dallas Business Journal
Countrywide to dispense $7.46M to Texans
Mortgage lender Countrywide Financial Corp.is preparing to mail out $7.46 million in restitution to Texans who the Texas Attorney General has determined were encouraged to take on home mortgages they could not afford.

Texans eligible for a portion of the payout will soon be receiving a form in the mail to fill out to request restitution, according to the Attorney General's office.

The $7.46 million payout to Texans is part of a $345 million settlement the attorney general’s office reached with Countrywide earlier this year. Countrywide was acquired by Charlotte, N.C.-based Bank of America (NYSE: BAC) last year.

Qualified recipients will receive about $1,400 apiece.

The office of Texas Attorney General Greg Abbott said the program to reimburse Texas homeowners was first announced in February. Only customers who took out Countrywide loans between Jan. 1, 2004 and Dec. 31, 2007 are eligible.

Borrowers who lost their homes to foreclosure or who experienced a period of delinquency that lasted more than 120 days are eligible to receive funds.

As part of the agreement, Countrywide also said it would perform loan modifications for 30,000 Texans -- a process that is valued at $335 million.

Countrywide also is funding a Relocation Assistance Program, which will provide $2.8 million in benefits to approximately 1,400 Texans who are in default on subprime mortgages and likely to lose their homes. Those Texans who are eligible will be able to receive up to $2,000 if they voluntarily turn over their residences into the program.

http://www.bizjournals.com/dallas/stories/2009/07/27/daily8.html

 
< Prev   Next >

 Texas, First Home Lemon Law Debated in the Nation
Homebuyers Need a Home Lemon Law

Search HOBB.org

Reckless Endangerment
BY: GRETCHEN MORGENSON
and JOSHUA ROSNER

Outsized Ambition, Greed and
Corruption Led to
Economic Armageddon


Amazon
Barnes & Noble

 Feature
Rise and Fall of Predatory Lending and Housing

NY Times: Building Flawed American Dreams 
Read CATO Institute: 
HUD Scandals

Listen to NPR:
Reckless Endangerman
by
Gretchen Morgenson : How 'Reckless' Greed Contributed
to Financial Crisis - Fannie Mae

NPR Special Report
Part I Listen Now
Perry Home - No Warranty 
Part II Listen Now
Texas Favors Builders

Washington Post
The housing bubble, in four chapters
BusinessWeek Special Reports
Bonfire of the Builders
Homebuilders helped fuel the housing crisis
Housing: That Sinking Feeling

Consumer Affairs Builder Complaints

 TRCC Implosion
 TRCC Shut Down
 Sunset Report

IS YOUR STATE NEXT?
As Goes Texas So Goes the Nation
Knowledge and Financial Responsibility are still Optional for Texas Home Builders

OUTSTANDING FOX4 REPORT
TRCC from Bad to Worse
Case of the Crooked House

TRCC AN ARRESTING EXPERIENCE
The Pat and Bob Egert Building & TRCC Experience 

Homebuilder's Right-To-Repair Illusion

Build it right the first time
An interview with Janet Ahmad

Bad Binding Arbitration Experience?
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
or call 1-210-402-6800

REWARD
MOST WANTED

ARIZONA REGISTRAR OF CONTRACTORS
Have you seen any of these individuals

Pulte Homeowner Survey
Warranty & Mortgage Experience
 Click to participate

top of page

© 2024 HomeOwners for Better Building
Joomla! is Free Software released under the GNU/GPL License.