More Settlement Checks Mailed

Well, if you've been following this site, you know that the first batch of foreclosure settlement checks was mailed out a while ago, with some of them bouncing on a technicality. You also know that the balance are to be mailed "soon". Well, for at least some of the checks, if not quite all, the second batch has now been mailed. This news comes from the Office of the Controller of the Currency, the Federal agency that oversees the operation of all federally chartered banks in the US. This latest group of checks totals 1.4 million checks, totaling $1.2 Billion in settlements. When added to the previous batch of checks, the total number sent out to homeowners is 2.8 million checks totaling $2.4 Billion. By the end of April, 4.2 million homeowners should receive a check, with the total payout by then equaling about 90% of the final expected total amount. If you have any questions about your eligibility or your check, call Rust Consulting, the paying agent, at 1-888-952-9105. And, as always, Good Luck.