North Carolina homeowners who lost their homes to wrongful foreclosure and had their loans serviced by Ocwen Financial Corp. are being urged by the N.C. Attorney General’s office to file paperwork to claim their settlement payment.
Consumers eligible to get money back from the $125 million settlement between Ocwen and the federal government have until Sept. 15 to return their claims.
So far, only 35 percent of the 35,000 eligible North Carolina consumers have submitted claims, according to the attorney general. All eligible consumers should have received claim forms from Rust Consulting, the settlement administrator.
“People who lost their homes to faulty foreclosures now have a chance to recover some money,” Attorney General Roy Cooper said. “Don’t delay if you think you’re eligible to get money back.”
Borrowers who lost a home to foreclosure between Jan. 1, 2009 and Dec. 31, 2012 and whose loans were serviced by Ocwen, Litton Loan Servicing LP or Homeward Residential Holdings LLC, a company formerly known as American Home Mortgage Servicing Inc., should have received a mailed package containing the claim form and instructions.
Homeowners who qualify but did not receive the package should contact the settlement administrator at 1-866-783-5382 or on the web at [email protected].
Depending on how many people submit claims, consumers could receive payments of between $679 and $1,235. Payments will be mailed in late 2014 or early 2015.
The settlement agreement reached with Ocwen last year requires the financial company to pay $125 million in restitution to nearly 184,000 borrowers nationwide for its alleged foreclosure abuses.