Independent Foreclosure Review: Update on $3.6 Billion in Cash Payments and $5.7 Billion in Modification Assistance.

New info on Independent Foreclosure Review

By Sean Coffey, MPA, Program Manager at Foreclosure Help

April 25, 2013 Update: Representative Elijah Cummings (D-MD7) introduced legislation today to create a monitor to review the Independent Foreclosure Review, you can read more at our new blog post: “New Federal Bill Introduced to Create Independent Monitor”

Editor’s note: Foreclosure Help is a program funded by the city of San Jose and the city of Sunnyvale, and we can directly assist homeowners  and tenants in San Jose and Sunnyvale who are facing foreclosure.  However, we are unable to assist homeowners/former homeowners in other cities and states.  If you need housing counseling, we suggest using the interactive map on HUD’s website and if you have questions about the information below, please contact Rust Consulting (1-888-952-9105).

A press release jointly issued today by the Office of the Comptroller Currency and the Federal Reserve provides homeowners some additional details about the changes made to the Independent Foreclosure Review and how these changes could impact homeowners.

In January 2013, the regulators announced that most of the original banks/servicers had agreed to replace the program because of concerns over the cost, timeliness, and administration of the reviews (For more about these concerns, see our previous post:         7 Reasons to Postpone the Independent Foreclosure Review).

The 13 banks that are part of the replacement program include:

Aurora, Bank of America, Citibank, Goldman Sachs (Litton Loan Servicing), HSBC, JP Morgan Chase, MetLife Bank, Morgan Stanley (Saxon Mortgage), PNC, Sovereign, SunTrust, U.S. Bank, and Wells Fargo.

However, three banks (GMAC Mortgage, Everbank, and OneWest/IndyMac), did not agree to change their program, and will continue using the Independent Foreclosure Review process, which had a deadline to apply of December 31, 2012.  According to the press release, “Regulators expect the reviews for these servicers to be completed over the course of the coming year.”

What’s next?

According to the regulators, Rust Consulting, Inc. has been appointed as the payment regulator and Rust Consulting will begin contacting homeowners by the end of March 2013.    Homeowners can also contact Rust Consulting to update their contact information (which is important to do, especially if the bank/servicer’s only contact information is a mailing address or phone number for a house that was already foreclosed on).  The phone number for Rust Consulting is 1-888-952-9105, and representatives can also verify a person’s eligibility.

Am I eligible? 

Similar to the original Independent Foreclosure Review, the replacement program is only for homeowners who were part of a foreclosure action (pending or completed) between January 1, 2009, and December 31, 2010.  The homeowner did NOT have to lose their home in order to qualify, but did need to be “in any stage of the foreclosure process” during that timeframe.

How much money?

The money is being divided into two categories: Cash payments and loss mitigation assistance.

Cash Payments: The 13 banks/servicers have agreed to provide a total of $3.6 billion to homeowners.  Individual amounts to homeowners will depend on the severity of the mistakes the bank/servicer made, and could range from hundreds of dollars up to $125,000 plus lost equity.  The Washington Post has created a helpful table of borrower categories: Waterfall of Borrower Categories (from their article: “Foreclosure victims to get compensation alerts in $9.3B agreement starting Friday”

Loss Mitigation Assistance: The 13 banks/servicers will provide $5.7 billion is assistance to homeowners through loss mitigation efforts, with “preference given to activities designed to keep borrowers in their homes through affordable, sustainable, and meaningful home preservation actions.”  The banks and servicers are given until January 7, 2015 to complete the loss mitigation assistance.

Bank/Servicer Cash Payments Loss Mitigation Assistance
Aurora Loan Servicing $93 million $149 million
Bank of America $1.1 billion $1.7 billion
Citibank $306 million $486 million
Goldman (Litton Loan Servicing) $135 million $195 million
HSBC $96 million $153 million
JP Morgan Chase $753 million $1.2 billion
MetLife Bank $30 million $48 million
Morgan Stanley (Saxon Mortgage) $97 million $130 million
PNC $69 million $69 million
Sovereign $6 million $9 million
SunTrust $62 million $100 million
U.S. Bank $80 million $128 million
Wells Fargo $765 million $1.2 billion
Total $3.6 billion $5.7 billion

Note: Figures are rounded.  Source: Amended Consent Orders posted on OCC and Federal Reserve website.

What Should I do next?  Rust Consulting will likely be overwhelmed by the number of phone calls from homeowners in the next few days, but it is worth taking the time to call them over the next few weeks and confirm that they have your current contact information and to verify your eligibility. The phone number for Rust Consulting is 1-888-952-9105.

For more information, visit:
Federal Reserve Press Release: “Amendments to Consent Orders Memorialize $9.3 Billion Foreclosure Agreement”

If you are a homeowner living in San Jose or Sunnyvale and are struggling with your mortgage, please contact ForeclosureHelpSCC, a program funded by the City of San Jose and the City of Sunnyvale at (408)-293-6000 or visit us:

Our housing counselors can help you evaluate your options, learn more about federal and state programs that may help you with your mortgage issues, and will help you create a plan forward.Please note: All content included in the ForeclosureHelpSCC blog is provided for information only and should NOT be considered legal or tax advice. If you have any questions, please feel free to contact us on our hotline: (408)-293-6000, or visit our website: or send us an email:

Si usted es dueño de una casa en San José o en Sunnyvale y están luchando con su hipoteca, por favor póngase en contacto con ForeclosureHelpSCC, un programa financiado por la ciudad de San José y la ciudad de Sunnyvale, al (408) -293- 6000, o visite nuestro sitio: consejeros puede ayudarle a evaluar sus opciones, aprender más acerca de los programas federales y estatales que pueden ayudarle con sus problemas de hipoteca, y le ayudará a crear un plan para seguir.

Por favor, tenga en cuenta: Todos los contenidos incluidos en el blog ForeclosureHelpSCC se proporciona únicamente a título informativo y no debe ser considerada como consejo legal o fiscal. Si usted tiene alguna pregunta, por favor no dude en contactarnos a nuestra línea directa: (408) -293-6000, o visite nuestro o envíenos un correo electrónico:

Nếu bạn là một sinh hoạt chủ sở hữu nhà ở San Jose hoặc Sunnyvale và đang đấu tranh với nợ nhà, xin vui lòng liên ForeclosureHelpSCC, một chương trình được tài trợ bởi thành phố San Jose và thành phố của Sunnyvale ở (408) -293-6000 hoặc truy cập trang web của chúng tôi:

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64 thoughts on “Independent Foreclosure Review: Update on $3.6 Billion in Cash Payments and $5.7 Billion in Modification Assistance.

  1. I read the amendments to the consent orders. Other than the various, obvious objections any victim of this bank scam would have to this process (really too numerous to mention…), I’m wondering about a couple of things. First – what exactly is the “borrower waterfall”? And second, when is a class action suit going to be filed? The court system is obviously the only place where justice might be found in this sad situation. I would urge all victims of this scam to keep informed of the process. Eventually, some law firm is going to be big enough, and ballsy enough to file a class action suit. We all need to join the suit as plaintiffs. By the way, interesting side note: Rust Consulting has the contract to disburse the monies on both the “Independent” Foreclosure Review, and the Attorneys General Multi-state Settlement. When questioned as to their possible dates of disbursement on the latter, they will only admit to “2013”. In Colorado, we will all get something in excess of $845, depending on the number of filers. I anticipate approximately the same amount in the Foreclosure Review, (only if I’m very lucky…). So, I might see $1500 return on my over $150,000 loss. Seems fair to me – not.

    • Thank you Beth, The Washington Post created a table of the borrower waterfall which we later added to the post- it’s essentially the different categories that borrowers would be placed in, based on how severe the mistakes were. It’s also not immediately clear if the replacement program is keeping the maximum amount of $125,000 plus lost equity, or if $125,000 is the new maximum amount with this replacement program.

  2. Pingback: Seven Reasons to Postpone the Independent Foreclosure Review | ForeclosureHelpSCC

  3. Thank you. It appeared to me that the $125K is the new max. The Waterfall plan appears to be a minimized version of the Damage Matrix they were supposed to use. Looking at it, my personal complaint would put me in at least 3 different categories, 4,5, and 7 (I believe…). My guess is that I’ll qualify – if lucky – for the cheapest category. It’s just infuriating on so many levels that the foxes are detemining compensation for their damages to the henhouse. It continually brings me back to Elisabeth Warren’s comments re. “Too Big to Jail???”. I hope she continues the pursuit.

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  7. I went through 6 reviews for modification from 2009 to 2010. I was in a mod with countrywide and Bank of America bought them out and immediately stated I need to renew my mod and that they could not honor countrywides agreement. I sent all required documents they requested each month for 12 months and every month i called and they stated they didn’t receive all required documents. I would ask what was missing and they could not tell me what paper was needed. Talked to as least 100 different people (I have all names and times I called logged) After several attempts I had a mortgage attorney send the paperwork and they finally approved the mod. Made the first payment only to receive foreclosure papers 20 days after the first mod payment. Unfortunately I was forced to short sale my home, which they waited months to respond to buyers willing to pay their asking price and the buyers had already bought elsewhere. Now I have a $40,000 loss on my credit report and may only get a few hundred dollars in compensation. Seems like they jumped on this kinda fast to get out of being audited deeper and paying out more.

    • I got a check yesterday. What a joke it was $500.00. I went through 9 months of hell to keep my house. I had to postpone the sale 3 times and they don’t let you do that until 10 days before the auction. I was so stressed and my health went downhill. I had missed 2 payments because my job reduced my wage by almost 1,000 a month. I got a 2nd job called to make my 3rd payment plus an extra 200.00 and was refused. Was told all or nothing. Then they put me in foreclosure. When I called Wells Fargo I was told I should have made my 3rd payment and it would not have gone into foreclosure. When I told them I tried to make the payment and was refused they told me that was a mistake ohps sorry but we can’t correct that now. So after 9 months of trying to keep my house they took almost 11,000 in back payments ( thank God I had been putting the payments in an account ) and Wells Fargo put another 14,500 on the back of my loan. For all of this I got a whole 500.00 that doesn’t even help me pay the loan down from thier mistake. I thought this thing with the government was going to make things right! So did not happen.
      I am all for a class action! I have never sued anyone in my life.

      • wow got a whole $300 from it cost me thousands to stop my home being sold someone getting it all

      • Yep – I would urge everyone to keep all of your paperwork. There’s bound to be a firm out there that’s not too tied to the banks, yet well-off enough to finance a class-action. It screams out for it. If you’ve received a check, what state are you in? I’m dying to get anything at all, and waiting for Colorado to get mailed. Thanks for any response.

      • went thru remad with citifinical 4 a year sent in fax in all needed told me remod almost done 3 day before sheriff sale thay told me no way they help me i did hire lawyers out of NYS they took me eor 6k but in the end i had to go chapter 13 had it done hope citifinical can eat their own words watch who you deal with i learn the hard way luck to you all on the money 1 got back on mortgage deal was just $300 i pais heck lot more then that out my pocket independent forecloser stuck me bad to hope they and citufinical can sleep well i not done with this yet remod not remad luck to you all

      • Count me in on a class action. We just got our check in CO and yes it was for $500. According to the OCC that falls under that we were offered a mod. We fought for 2 years and were always denied and lost our house. I would like to see the paperwork showing that we had an approved Mod. I am not sure why they think this will make it right. It will not buy me another house. or take it off my credit. I can believe they think we will fall for this and be happy about it. Can you tell I am pissed?

      • you lucky you got $500 i got only $300 cost me more for lawyers and sending papers to mortgage company i got screwed i gave the $300 to my church cant help me out for what i lost. this whole settlement is a big joke i wont lose my home had to go chapter 13 lo hope all others did better then i did

      • Count me in. Have not received anything but a post card telling me I would receive receive money. Had stroke that is why I was foreclosued on


  8. I figured out a while ago that nothing much at all is going to happen with this. No heads will roll. The Department of Justice hasn’t shown it’s face during this whole debacle. The US Attorney General has stated his reservations around prosecuting the banks, fearing it would further hurt the economy. There’ll be no “perp walks” of the arrested high level executives to illustrate to the public that the government is effective and cares about its constituents. Those really only happen when the rich get screwed (think Kenneth Lay and Enron…). As for the common folk – we are truly getting the pittance the banks can get away with paying.

    I still say the one way that victims of this immense Ponzi scheme will see any form of justice is through a class-action law suit. It’s going to require a rich law firm willing to go after the rich banks. I certainly have no money to go after them – the banks have my money. I just have to hold out a sincere hope that there’s a well-to-do law firm out there that relishes fighting for the underdog. I’d sign on to the suit in a hot minute. Hell – I’d do their filing and clean their offices!

    • Beth, agree with all your posts… will hopefully see a class action suit. I will volunteer to help you with office cleaning and filing!! Good luck with your claim.

  9. I’m happy to see they have to pay something but 1.3 billion from BOA?!?!? I actually wanted to see them shut down! I know it’s a little unrealistic but after all the damage they have done to my credit, my family, and myself with their verbal abuse!!! I spent hours with BOA over the phone as often as I could tolerate, but with every call came no empathy, no guidance, no answers but plenty of belittling, mocking of my situation, TEASING that I’m going to lose my home….
    Now my credit is hit and I am praying I… WE, all of us that have been through long night calls and tears of trying to explain you have already sent those same documents 6 other times just to hear they didn’t get them (one response) we were denied (another response) and It’s still under review (last response, probably so they could get off the phone) get the funds and assistance we deserve after this company accepted funds from the gov. to do the loan mods just to deny everyone, keep the funds, put foreclosures on the market and collected the kickbacks they get from the foreclosures as well!!!
    Anyway at this point I’m rambling with frustration… so good luck to all and I’m hoping when I get my information on funds I will be left with a sense of peace and a smile on my face.

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  11. Our house was in the foreclosure process during the 2009-2010 years. I sent all the required documents time and time again for a loan mod and was always told HSBC never received them and I must not have sent them. We were 2 months behind and I went to make the monthly payment and was told my account had a stop payment on it and they could not accept my payment, two weeks later we received foreclosure paperwork from a firm HSBC hired. I went through the Housing Council and they helped to get us approved for a loan mod. We were however charged $20,000 in lawyers fees that HSBC added on to our balance on the house because they wrote up some paperwork!! Is this allowed?

  12. My wife and I went through the exact same process that all of you did. first was the loan modification nightmare, which forced us into a short sale situation. Wells fargo took so long that our buyers could not qualify for the home any longer. Needless to say, we lost our home, only to get served with a lawsuit from wells fargo on our second mortgage. we are in chapter 13 bankruptcy payiing them back. We are hoping and praying that the independant foreclosure review will make it so wells fargo has to drop the lawsuit so we can move on with our lives. the only reason we had to do the bankruptcy was because of the lawsuit.

  13. citifinancial did same to me had to send in all kinds of paperwork i did . then they said i be approve for a loan mod but after i done sent paperwork after paperwork their under writers said they wont do any remod for me was forclose was in a sheriffsale had to go chapter 13 to save my home. they didnt let me know that remod wasnt approved until three ays for shefiff sale. they are part of citibank dont go to them for anything they will rip you off

  14. I applied for mod last 2009, at first I was told we’re not qualified for our income was high, then I reapply again, and on the 2nd. time I was told that are ratio was too high. I beg PNC to at least help us lower our interest just for even just for few years till we finish our IRS, then they sent me a letter that there will be a rep from their office that will meet with us in San Francisco. I attended that seminar, which took us almost all day. During that time I was told that to resubmit and update all documents,and was informed that time that we are qualified for trial periods. I was happy, WE waited for more than a month only to find out that we are disapproved again I did not pay for almost 8 months and our house was already in pre foreclosure, so I borrowed money to save our house. Good for PNC to compensate their client, because they are not willing to help.Noe, it’s upsetting, since Sept.2009, I always pay on time, but I always send my payment by the 5th of each month, believe me, they will harass me even on weekend and at nite if they don’t receive the paymenys by the 1st. day. I always tell them that don’t call, till iafter the 15th., but they will continue to harass. Pls. inform PNC, inot to call, until the client is late.-thanks

  15. Check amounts should be based upon how the 4.5 million people are doing right now. What needs to be understood is the sacrifices that had to be made by families. So let’s say 4.5 million times 3, or even 4. My credit is ruined. My children were forced to see me in treatment for major depression. While in foreclosure, I had to have a back surgery. I spent my entire savings. I’m sure like me many families went through similar or worse problems. I feel the saddest for families who could not send their children to the colleges they wanted to attend. Many of us lost things that money just cannot buy back. And grouping us according to the experience we had with a mortgage company disgusts me. Why can’t we all just get $125,000? Not one person or couple dealt with the mortgage company. Our families had to deal with this thing also.

    • Right there with you. I dream of the problems I could solve if I received anything even close to the 125k. Reality does rear it’s ugly head. My guess is that only a very few will receive the top amount – those people where SCRA was violated, or they were foreclosed on when there was no cause, or the wrong company foreclosed on someone not there client. In other words, only a select few of the most egregious cases will see the 125k. As the “award” is being split amongst all those with foreclosures; I for one would feel lucky to get anything. I would be highly surprised to get more than a thousand dollars. And remember- we have absoliutey no say In anything. Your mortgagor determines if you qualify, and if so (unlikely), how much you’ll receive. It’s been a very well executed piece of criminal immorality. I said it before – the only place wei’ll eventually see anything approaching justice is in the courts. Pray for a rich, activist law firm that could take this on. Sorry – I just hate to see anyone counting on this. I would love to count on it, but all evidence points to an emphatic “NO”.

  16. I just called to ask a few questions, and I had to try and word it so I could get as much info on the amount possible. So I told them my situation both physically and financially and then asked if she thought it would hurt me in the long run due to me being on SSI and medical assistance or even if I would have to pay extra taxes. I was Holding my breathing for at least 20,000.00, and I was basically told it wouldn’t be much.

    I lost everything because of this Situation. Not to mention the con Artist Mike Bong Sold it to me and He was to fix the house and only did a few cosmetic improvements. It was so awful on both fronts for me and my now ex-husband. They should at least provide enough for a down payment on a nice new home for those of us who actually lost their homes.

    We did the paperwork shuffle for many months, and the mod that never appeared. I still get requests for proof of insurance for the property I no longer own. So what catagory do I fit in??! Just send me what I deserve and not a penny less.

  17. The situation has been a nightmare for all of us. The news of hearing of the compensation was good, but the thought of only receiving a few hundred dollars is the nightmare happening all over again. I called and asked would the compensation affect our taxes and they said,” It may possibly affect any public assistance or SSI you received, we suggest you contact a tax attorney before cashing your check.” What!? So you are paying me back for the suffering, but now I gotta pay taxes on top of it? Are you kidding me?

    • I know. From my reading, I don’t think anyone has considered tax or benefits impact. Why should they? It’s a culmination of a massive scam, hopefully not the final culmination. Keep looking for that legal solution. It ain’t over till it’s over…

  18. I think we need someone to start a web site we can all log into so we can band together and get an attorney who has a conscience. I can’t believe we are reliving this nightmare from hell because of the slap in the face settlement. What tipped me to tears today was the fact the new amended court order states we can not dispute or defend our settlement amount and the icing on the cake….the settlement is not an admission of guilt on their part…but we all can retain an attorney and file suit if we want. This is so wrong on so many levels and we have to do something as after reading the blogs what happened to our family has happened to all of you. I will not say UNCLE !

    • I wish the banks weren’t in bed with practically everyone I think most if not all of the big law firms represent the banks. Who knows, though? Maybe there’s someone….

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  20. This should go to court because as it sounds so far, the Jury will have at least two people on it that went through or know someone that went through the same issue(s).

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  25. This announcement was on the federal reserve website this morning:

    Press Release

    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.

    • I just wanted to say to the owners of this blog – You do a great job! This is one of the best informational sites I’ve seen for this horrible thing. You have been a thousand times more helpful than any of the governmental sites – that’s for sure. So, thank you. You’ve been a bright light in a very dismal time.

      • Thank you, we appreciate it! I wish we were blogging about happier news or about a program that actually achieved the goals they had in the beginning. It will be interesting to see if Congress lets this go, or if the Federal Reserve, OCC, and highly compensated consultants will have some consequences?

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    • Hello Dee, both Saxon (owned by Morgan Stanely) and Litton Loan Servicing (owned by Goldman Sachs- then sold mostly to Ocwen) had separate settlements, I thought I read that their payments may be going out later, but I would suggest double-checking with Rust Consulting: 1-888-952-9105

      This is from the Frequently Asked Questions:


      Litton Loan Servicing and Saxon Mortgage Servicing did not conduct a Borrower Outreach program similar to the other servicers where borrowers were able to submit a request for review form. Borrowers whose primary residence was in a foreclosure action in 2009 or 2010 and whose loan was serviced by Litton Loan Servicing or Saxon Mortgage Servicing are included under the terms of the Agreement even though a request for review form was not submitted.

  28. I received a $3,000 in my soon to be ex-husband’s name for the foreclosure nightmare that lead to our pending divorce but I read up on how the amounts were determined and I’m pretty sure there’s been an error. We were approved for the loan modification (after several months of paperwork sent in over and over and over) and we were in a “trial period” to ensure we could make the payments. We were to do this for 7 months. Our checks were cashed by Wells Fargo for months 1-6. The check for the seventh was returned to us, along with a check for the previous six months payments with a note saying, sorry, you don’t qualify after all. We made all payments per the loan mod agreement. We still lost our home. After a year of fighting, I gave up at that point, certainly didn’t have money for an attorney with trying to find a new home for my family. Based on how the money was disbursed, I believe that qualifies for the $25,000 amount. I’m going to try to contact the consulting company tomorrow, but look to get no where. Lost home, lost marriage, and I’m a single mom to two kids now because dad moved to another state. Thanks for the $3,000. That should cover everything…..

  29. I have copies of the reviews that I submitted for my house that went into foreclosure after making seven on-time trial payments (after 1+ years of resubmitting paperwork), only for them to deny my modification and continue the foreclosure process. They were quite swift in selling our house. A $500 check arrived in the mail today. Considering that the foreclosure process was completed within the years specified in the Review process, that I made 6+ on time trial payments, and was subsequently denied a modification, I should have received a check for $50,000.

    I called Rust Consulting and talked with three different people to see which answer I would get the most. I was trying to discern what was meant by ‘rescinded, completed, etc’, and which category I fell under. A manager helped clarify that my process was ‘Completed’, which led me to think that I’d get 50k. I suspected that I wouldn’t though, and it is a shame that they left of a few zeroes on my check.

    So how do we get started on a class action law suit? This feels like a bait and switch.

    • I’ve been checking everyone’s response on this site who received a check. So far, it looks like an overwhelming percentage of people (including me), received a whopping $500. As with everyone else, I have extensive documentation that proves, per their own chart, that I should have received $60,000. I intend to forward this site to Senator Elizabeth Warren’s website, as well as my own Senator (William Bennet). I don’t expect much to be done through them, but it’s probably a necessary step.

      Here’s the problem with getting a class action suit going. Most of the big law firms – the firms capable of taking on a massive case of this sort – are in bed with the big banks as a matter of course. Now that fact, in and of itself, shouldn’t stop a lawsuit, but it makes it much less likely. These kinds of cases are also massively expensive, and take huge amounts of man-hours. Maybe one way to go with this is to contact media, and see if someone in your area is willing to do a story on this. That may catch the attention of a law firm. Contact your local investigative reporters – see if they want to run a story on this, including a plea for a super-hero attorney to step forth.

      • Rust Consulting is of about as much help as Chase was during my loan modifications. The mortgage was in my husbands name. I got the house in the divorce, he called Chase and said he no longer lived here, had no intention of making any payments and to not accept any payments from anyone other than him. He also told them to to speak to me about the loan. I had made the mtg payments for the year we were separated and they accepted all of them. As soon as the judge banged the gavel on our divorce, my ex called Chase. The next week, the payment I had made the previous month was returned to my acct. I called Chase and they wouldn’t talk to me about it. They started foreclosure. Funny how they wouldn’t talk to me about the loan but sent all the foreclosure notices to me in my name ! I got an atty and 2 days before the auction, the superior court here invalidated the proceedings because Chase used a law firm in the foreclosure who was not licensed to practice law in NH – even though the law office has an office in Manchester NH, they are not licensed to practice law. What a joke. After that, a family court judge ordered my ex to sign whatever was needed to have Chase talk to me and put the loan in my name. After 8 months of hell, the loan was finally put into my name and has been for a few years. 3 weeks ago, I got a letter from Chase that my ex husband had requested a name change on the loan. Last week I got a letter from Chase that the request was approved and the loan is now back in HIS NAME.. AGAIN.. How can they do that? how can HE do that ? I don’t even know where to go for help on this. But so far, Rust says my check has not been mailed out and I have absolutely no idea what category I fall into. Is there any rhyme or reason as to how checks are being mailed? Has anyone heard of anyone who has received more than 10k ? Any help or info is much appreciated.

      • ya i only got $300 to a rip off from all oinvolved in it home owners should received lot more then the pennys we received someone got the money not us the home owners

    • Hi Debi,
      Sorry to say this, but sounds like it may be a legal issue. Has Chase given you any assistance when you explained the situation and the history of your loan? Was there a refinance ever, or has this always been the same loan, and they just took his name off of the account? There is a chart for the payment amounts:

      • The loan number itself stayed the same. I signed a whole bunch of papers assuming the loan.. gave them all kinds of financial documents etc.. They took his name off it and did a loan modification at the same time because it was in foreclosure because he forced it into foreclosure. The loan wasn’t in default. They initiated foreclosure with the reason that the borrower did not live in the home and the terms of the mortgage required that it be the borrowers primary residence. They tacked on thousands and thousands to the principal to pay for all their atty fees even though the court said they couldn’t because the foreclosure wasn’t legal to begin with. Then last year I applied for another loan modification and it was approved after about 5 months and now all of a sudden, they take it out of my name and put it back in his. I have no idea what category in that waterfall I would fall under. The loan mod they did after the initial foreclosure was a headache and a half.. constantly saying they didn’t have the right paperwork etc etc.. I had to do trial payments for way more than what the mortgage payment was when I was paying it a few months before. I don’t even know who is supposed to be paying the mtg now.

      • Hi Debi, wow, what a nightmare! If Chase can’t assist you, then you may want to either contact an attorney or a local housing counseling agency (if there’s one near you) who may be able to help or may know of legal resources in your area.

      • It’s been the most horrible experience of my life. It’s been never ending since 2009. I thought it was all straightened out and then the news of this payment comes out and all of a sudden my ex husband wants the loan in his name again.. I don’t even know how Chase could change the name on the loan without my permission. I’m so frustrated and confused. I can’t afford another attorney to fight Chase. Even though they lost last time, it still cost me 10k to beat them. If this review sends me the min of 500, I’m going to scream.

      • well ,luck with getting money back i got just $300 wow it didn’t cover all i paid lawyers and sending paperwork out i gave monet to my church as that little amount wont do me any good i had to go chaper 13 to stop sheriff sale had citibank luck to you all on this someone made out good on this but not me

  30. Rust states my check was mailed on 4/19 to my ex husbands house. We were divorced prior to my getting the home that was foreclosed. I know he would not throw away or attempt to cash a check with only my name on it. So just wondering if anyone else is still waiting on a check that was mailed on 4/19?

    • I thought the check had to go to the address of the home that was foreclosed on unless you called Rust to update the address ?

      • when you call to “update” your email they tell you they cant do it over the phone, and that you need to a fill out a form that they send you. its been 3 weeks and I havent seen it yet.

    • I was waiting for the check, but they say it got sent back to them. Liars, I got the initial paper work, and the post card but the check does not make it, what the ?? Now wating 6 weeks and counting for the re-issue form. I called today and they said they are back logged call back in another two weeks. The firm is working with the banks and I think Rust Consulting should be put out of business on fraud charges!!

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