$6.6 Million For Michigan Borrowers

By: News 10
By: News 10

Countrywide, the nation's largest mortgage lender and home loan servicer, is one of six major lenders who agreed to widen their efforts to help borrowers of all loans. (AP)

Thousands of people around the state are about to find out if they're eligible for a share of more than $6.5 million.
Countrywide Financial has to pay up that much as part of a settlement that questioned their lending practices.
Each borrower could get up to $1,800--- depending on how many people participate in the settlement.
To be eligible, borrowers had to receive a Countrywide Financial loan between January 2004 and December 2007. The borrower's home had to be foreclosed on between January 2004 and December 2008.
Eligible borrowers will receive a letter from the Attorney General, claim forms and postage-paid return envelopes.
Eligible borrowers have until October 22, 2009 to return the claim form to Countrywide Financial's settlement administrator. Payments should be received by December 2010.
If you have questions, call 866-411-6987 or click on the link below.

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  • by John Location: Lansing on Jul 23, 2009 at 05:35 PM
    Sorry Kim, you are not behind becuase of Countrywide, you bought more than you could afford. If everyone who BORROWED money actually PAID it back, we would not be in this mess. Greedy wannabees on 'mainstreet' are to blame, not the banks who lend the money on the PROMISE they would be paid back. I am so tired of the 'its not my fault' mentality.
  • by Kim Satterelli Location: 950 Cunningham Rd. on Jul 23, 2009 at 03:35 PM
    We are behind due to Countrywide Home Loans over apprassing our house and property.
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