There was definitely a class action lawsuit against American Home Mortgage. I think a settlement was agreed upon a while ago. Could be legit. Did you receive something that looked like a court docket booklet with information about to be included in the settlement or how to be excluded from the class?
My situation is odd...they were my first mortgage loan ( an 80/20 loan) they merged or sold me to CitiResidential which foreclosed on me. Im wondering if these mean now that they wont come after me for the difference or could they sell this to a collection company and they come after me down the road. I was comtemplating bk because there is a final judgement at the courthouse for 150k but if I could get a nice settlement then Im wondering if its worth it.
You'd have to look carefully at the document you received to see what your share of the settlement will be. It's highly unlikely to wipe out any outstanding debt. Also, after the attorneys and the lead plaintiffs get paid, then the remaining amount will be divided up among the other members of the class. So it may not be a big number.
With regard to your foreclosure, do you know whether yours is a recourse or non-recourse state? If the latter, then you may not be responsible for any deficiency that resulted from the sale or auction of your home.
recourse...i know my state has the right to collect. Now the house was sold a year later for 18,400 and I owed 132K that was in 2009. Shoud I have been informed by now if any extra money was owed by me? Sorry for all the questions...this comtemplates if I have a valid reason to file a bk or leave it alone..
Wondering if anyone has heard anymore regarding this action. I filled out my form the best of my knowledge. It did state a check would be sent out in the beginning of the summer of this year.
I didnt persue it. I was going to file bk because I have no sure answer that they wont come after me for the 130k they didnt get at the foreclosure sale. The bk atty said not if I was planning on filing. Let me know how you made out..
Typically the attorneys handling the plaintiffs will be able to provide updates. I just went through a class action myself as the plaintiff and the attorneys were great letting me know what was going on.
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