Foreclosure Fraud Settlement Checks ARE Bouncing!!!


Foreclosure Fraud Settlement Checks ARE Bouncing!!!

Foreclosure Fraud Settlement Checks ARE Bouncing!!!

Cluster Fvcks… Everywhere One Turns!!! Yes! Cluster Fvckin’ Fvcks!

Release Date: April 17, 2013

For immediate release

The paying agent for checks being sent to borrowers under the Independent Foreclosure Review has assured the Federal Reserve Board that early problems with some checks have been corrected and that funds are available to cash all checks.

Some early recipients of checks informed the Federal Reserve’s consumer helpline on Tuesday that they were told their checks could not be cashed. Members of the Board staff contacted the paying agent, Rust Consulting, Inc., and the paying bank, The Huntington National Bank. Rust subsequently corrected problems that led to some checks being rejected.

The Board will continue to monitor the payments closely and encourages borrowers who have concerns or experience difficulties cashing their checks to call Rust at 1-888-952-9105.

As previously announced, on April 12, payments began to 4.2 million borrowers following an agreement reached by federal bank regulatory agencies and 13 mortgage servicers. More than 50,000 people have already cashed or deposited checks.

For media inquiries, call 202-452-2955

2013 Banking and Consumer Regulatory Policy

source: Federal Reserve

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2 Responses to “Foreclosure Fraud Settlement Checks ARE Bouncing!!!”

  1. Terri says:

    These payments are a Joke! I received a check for $500, with no explanation as to how they came up with that amount. Insult to injury. We tried to Modify for over a year, finally we received a trail modification. Completed the trail period and then our loan was sold to another lender and foreclosed on. Sorry the $500 check does not cut it. Especially when they sold our home for $245,000 less then we owed on it, but yet we could not get a modification lowering the payments or principle?? Very little for the loss of our home. I agree big cluster Fvck!!!!!!!!!!!!!!!

  2. Roger Dantes says:

    You are correct…I rec. a 600.00 check that is B S for$120,000.00
    deposit the system for payouts is a joke.
    Spent months on modification then BOFA hung up on me.


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