The United States Government has recently settled a case against Bank of America’s Country Wide subsidiary. The case was settled for a record amount of $335,000,000.00. The $335,000,000.00 settlement sets a record for being the largest housing discrimination lawsuit ever resolved by the government.
Government Looking For Two Hundred Thousand Minority Families to Reimburse Them For Housing Discrimination
So who is supposed to receive the $335,000,000.00 settlement? The basis of the settlement was to reimburse minority homeowners for housing discrimination. However, Country Wide’s records were not well maintained. After they were purchased by Bank of America the records suffered further set backs. The Justice Department is now looking for the two hundred thousand minority borrowers of Country Wide who are entitled to receive a share of the $335,000,000.00 settlement. If you are one of those individuals or families you need to contact the Justice Department to obtain your fair share of the settlement.
The lawsuit alleged Country Wide Mortgage Company was charging minority borrowers higher interest rates and higher fees between 2004 and 2008 then they charged non-minority individuals.
The housing crisis has left a significant portion of the American public in a position where they are unable to meet their monthly mortgage payments. The purchase of a single family home was the American dream. For families who can no longer afford to make their mortgage payments, it’s the American horror story. The Law Offices of Schlissel DeCorpo have been representing individuals and families with foreclosure defense problems for more than 45 years. We litigate issues concerning defective mortgages, defective lawsuits, predatory lending issues and many other real estate related issues. We also represent our clients in applying for mortgage modifications. If your case is in litigation we attend foreclosure court settlement conferences on your behalf. In appropriate situations we will recommend foreclosure related bankruptcies to our clients.
New York City and Long Island Bankruptcy Lawyers
In some situations filing either a Chapter 7 bankruptcy or a Chapter 13 bankruptcy is the best way to deal with foreclosure problems. At your initial free consultation with our office we will discuss all of your foreclosure and bankruptcy options with you. The filing of a bankruptcy will stop foreclosures from moving forward, stop debt collection activities against you and in some situations eliminate second mortgages. At the end of the bankruptcy we can help you re-establish your credit.
Call us and we will discuss all of your foreclosure defense and bankruptcy options. Thank you for visiting our foreclosure blog.
