North Carolina consumers who lost their homes to foreclosure may soon begin receiving claim packets in the mail entitling them to restitution payments, Attorney General Roy Cooper announced this week.
It’s part of a $125 million national settlement reached with Ocwen Financial Corp. and Ocwen Loan Servicing LLC that affected nearly 184,000 borrowers across the country.
In North Carolina, 3,400 residents who lost their homes through foreclosure between January 1, 2009, and December 31, 2012, and had loans serviced by Ocwen, Litton Loan Servicing LP and Homeward Residential Holdings LLC ( the company was formerly known as American Home Mortgage Servicing Inc.) will be receiving packets with claim forms and instructions this week.
The settlement alleges misconduct by Ocwen that resulted in premature and unauthorized foreclosures, violations of homeowners’ rights and the use of deceptive documents and affidavits.
Payments will range between $679 and $1,235, depending on how many eligible consumers submit claims. The checks will be mailed late this year or in early 2015.
“Foreclosures can be devastating to individual families, their neighborhoods and communities,” said Cooper. “With this settlement, people who lost their homes to foreclosures done wrong can get some money back.”
The deadline to submit claims is Sept. 15 and eligible consumers can submit the paperwork either by mail or online at www.NationalMortgageSettlementOcwenClaim.com.
Consumers who have questions or need help submitting the claim can contact the settlement administrator at 1-866-783-5382 or by email at [email protected].