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National Mortgage Settlement

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scuba_steve
Established Member

National Mortgage Settlement

Hi everyone, recent arrival here are the community and I greatly appreciate the wealth of knowledge presented here. We have recently started the rebuilding process in hopes to obtain a mortgage around mid-year.

 

We went through a foreclosure on a house in my wife's name in 2009 through a BK. She has recently started receiving notices about her eligibility to file a claim through the National Mortgage Settlement. It promises at least $800 but explains that it will probably be more as each settlement depends on the number of people filing claims. Just a quick Google search somewhat verifies the validity of the letters. My question is this. If she enters a claim and receives a settlement, will this hurt our chances for a future mortgage? It's hard to leave $800+ on the table, but if it will hurt our chances, it doesn't seem worth it.

 

Thanks in advance for any advice!

Message 1 of 6
5 REPLIES 5
JM-AM
Valued Contributor

Re: National Mortgage Settlement

A simple answer is No it will not hurt.

 

 

Good Luck
May all your dreams and wishes become a reality!
Message 2 of 6
scuba_steve
Established Member

Re: National Mortgage Settlement

Thanks. I just didn't want to have any lenders deny a mortgage based on participation in the settlement.

 

Message 3 of 6
masscredit
Valued Contributor

Re: National Mortgage Settlement

I just heard about this on my local news last night so I came here and used Google to do some research.  I guess the time to file has passed. It would have been nice if banks would have notified people who lost their homes.  The site that I found is -  http://www.nationalmortgagesettlement.com/

 

I might contact them anyway. The answer is definately no if you don't ask so I guess it won't hurt to try.

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Message 4 of 6
cclee
Regular Contributor

Re: National Mortgage Settlement

mass - the states attorney generals office's were the ones who notified those eligible.  I received multiple notices, thought it was some scam until I finally looked into these letters.  There were actually 2 different settlements.




In The Garden Until 11/01/15 - Last App 11/03/13
Message 5 of 6
RachaelMH
Member

Re: National Mortgage Settlement

I have a friend who lost her house with Citi in 2010 and recieved a payout on both settlements. She would like to try and to have the foreclosure deleted from her reports. Due to the class action law suite and the settlements, if this likely? 

Message 6 of 6
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