The Consumer Financial Protection Bureau settlement with Ocwen Financial to resolve allegations of mortgage servicing misconduct by Ocwen and its related companies provides for $2 billion in principal reduction for underwater homeowners.
Additionally, the Settlement Agreement calls for payments in the amount of $125 million for borrowers whose homes were sold by Ocwen in foreclosure sales between 2009 and 2013. Each eligible claimant in this part of the class will get at least $700, depending on the national participation rate.
Of the roughly 31,000 Floridians who qualified for part of the settlement just over 10,000 have actually filed claims. The September 15, 2014, deadline to file claims is quickly approaching.
If you or anyone you know had or have a loan serviced by Ocwen Financial and have not applied as a member of the class under the settlement you may be throwing away money you are entitled to.
The time to act is NOW !!!
The claims process does not require the assistance of a professional. However, if you or anyone you know does have questions the team at All Property Title & Escorw, LLC is here to help.