REFUNDS being Issued by Rust Consulting?? for the OCC

[tobee43]

what we are going on is 5 years. we would told by different attys one to walk the other stay and not pay. we just couldn't with good conscience stay, nor afford is as our main reason to take the NOD which an summons should have arrived before seeing this is judicial sat
i know one atty said why the heck did leave. well because we just could take the stress and when we started the HAMP which was a brand new program at the time.

was i DRUNK????? (wish i could use that as an excuse lol!)OMG!! i need to learn to type. i know and understand it's why God gave us secretaries but really.

[Toby629]

So sorry to hear what you went through. Every person's story of foreclosure is heartbreaking. These foreclosures, for the most part, were due to circumstances beyond homeowner's control. Loss of business, job loss etc. combined with housing crash (property devaluation), underwater mortgages, continued recession and you have the perfect storm for millions of foreclosures.

Ours was due to DH unexpected, sudden job loss and not being able to get any decent paying job after. Went through all our resources for 3 yr. while he tried to get employment. I totally relate to the bank's playing games. We sent in paperwork for a mod too, only to have the bank tell us twice, they never received it, 2nd time it got lost ( or so they said.) Only to be denied a mod after 9 months of this back and forth. Then finally having to face that we had no choice but to file BK, and that's when we found out our home had lost two thirds of it's value, market value was less than what we paid for it in 1992. We were soooo underwater with the mortgage, it was a no-win situation for us. So we included it in the BK. Our children are on their own, so thank heavens we did not have to worry about them or changing schools.

You're right, every person that has gone through foreclosure has endured heartache, pain and suffering which, how do you put a price on that? Frankly, I am surprised that there is this settlement at all. We have moved on and are in a better place now. One thing is for sure, we don't put any extra money in the bank, we only put in the checking what we need to pay bills with. We do not nor will ever again put trust in a bank after the outright thievery they have committed and gotten away with.

[faroff]

Hi All- Lets just say for the sake of speculation, cause that's all we can do at this point, so why not post a brief scenario of
your situation and see what possible category we fall under. It may be $2.00, minimum of "hundreds" or the jack pot of $125K.

My nightmare with BOA started in 2009 when my business failed and I became behind on my mortgage. I called BOA
countless times trying to work out a modification. Like so many others,albeit at the time I thought I was the only one, I would
listen to the song and dance, filled out immediately any and all paper work sent to me from them and faxed it directly back.
Little did I realize I was on the "HAMPSTER wheel". I would call them straight away to follow up and see if they received all
of my documents. Alas they never did,even though I had a transmission report stating the fax went through successfully. I
mailed the docs, only to again find they were "not received". I of course thought I must be losing my mind,my wife started to
believe I had to be lying to her about sending stuff,etc.

Then all the threatening letters started coming, I would call and just get different answers. Send a payment,don't send a
payment, whatever. My debts were mounting and I just wanted to keep my home. I was doing everything I could yet the bank
just would not work with me and frankly just lied to me about not receiving paper work,etc. In Sept.2010 the notice finally came
from Fannie Mae stating they were now the owners of my home. It gave me the options of what I could do. Relocate or possibly
rent the property from them. I had a wife and two kids and started to look for places to rent although my credit was now shot.
I finally filed for BK and got a stay of relief. They held them off and finally in 2012 I was able to get to the office of the President
and got my permanent mod.

I know there are many out there that have unfortunately lost their homes and my heart goes out to them. I know they
fought hard to keep their homes only to get the run around from this travesty of a situation the banks put so many in. I believe
in owning up to mistakes that I made and I don't use my business failing as an excuse but it of course led to so many mitigating
circumstances. I don't know how you put a price on "pain & suffering", but I know this bank honestly made me feel I was going
out of my mind. Knowing your house was on the auction block and receiving a notice it was now owned by Fannie Mae was the
most stressful thing I ever went through and knowing I was doing everything I could and was instructed by BOA to do yet they
just were playing a game with me,or so it seemed, and then foreclosed.

I don't know where to speculate what amount I will be receiving but it should be interesting.

What are your stories and speculations? Good luck everybody......we deserve it!

[tobee43]

I just hope the BK trustee does not come after it.

good point??? what happens if one is in a 13 and gets a check for 125K???? now that would be a big kick in the butt!

[spidge]

I just hope the BK trustee does not come after it.

[tobee43]

i do as well. we certainly can use the money. i was speaking yesterday to an atty about our situation. he was explaining i didn't really HAVE to leave since nj has only the judicial process and i could have mitigated damages to a slight degree had we chosen to stay. my argument on that is 4 times chase came knocking on our door on a sunday morning, as well as the fact that we were JUST 90 days late as per the banks instructions to get the modification we needed. it's so bizarre what the banks did. be late or no help and be late and we are throwing you out. also, our being that our paperwork is not in order i just am wondering which "excuse" we would qualify for.

i also like the fact that by accepting the payment no one is giving up their right to sue if they so chose to continue to go after the bank for their individual circumstance.

[justbroke]

Luckily, everyone that received the original paperwork (4.2 million mortgages) are entitled to a distribution. So you will get something. I can't wait to see what I get! I hope it's more than $2. I hope it's more than $200!

[tobee43]

i'm just really sorry i didn't fill out that darn paperwork. but i'm hearing it both ways depending on where or who is giving you the info. either it matters or it doesn't.

i think this again is the guide lines i posted here already, but just in case someone doesn't want to read back...this was a summary of how the distributions were going to be distributed (sorry couldn't get the entire chart here so just click the link:





http://www.scribd.com/doc/97947372/F...tion-Framework


and again: here's the OCC's explanation

http://www.occ.treas.gov/topics/cons...practices.html

[justbroke]

According to the paperwork, Rust Consulting will issue one check for a specific mortgage (account). If there are six people on your mortgage loan, then there will be one check. I do not know if a husband and wife are on the mortgage account, if the check would be in both names.

[tobee43]

what do you mean?? just one payment per mortgage you mean or how much you owed? the concept is alluding me for some reason. (easily done nowadays ).

just SHOW ME THE MONEY! lol

[justbroke]

It is per mortgage.

[tobee43]

jb. do you think it's per person like in a mr and mrs...or one per household? glad you found the postcard. the other materials i rec'd back in nov., with a dec 31, 2012 as the deadline date. however, so few came me, in the millions but now they are saying many people didn't know nor wanted to give out such sensitive information...especially after the electric shock mind set many have as a result of what they went through.

truthfully, i'm glad to get anything.

[justbroke]

I actually found the "postcard" in a pile of "junk mail" that I intended to through away. I had called Rust Consulting last week and confirmed that I would get "something" and that a postcard was sent out. I had overlooked the postcard.

In any event, they are saying that the old "criteria", which does show the categories, may not show the correct amounts for the various issues. The Office of the Comptroller of the Currency (OCC) allegedly will set the rate (amount) that each mortgage-holder (or former mortgage-holder) would receive.

That's all I know. I'll just wait for my $2 check. (Just kidding, they say a minimum of "hundreds" -- whatever that means. It could be hundreds of pennies!)

[tobee43]

i was looking at the criteria for the amounts that are being issued from a few hundred to upwards over 100k. what it or no one has explained is who is reviewing the situation. we never answered the first one even tho i checked it our and i think even posted about it as being legit.

the thing was it wasn't clear even when i called a few months back. so they list how much you get for what...depending on what happened to you...denied a mod for no reason, started foreclosure for no reason...well when i went down the list almost 1 out of 2 we qualified, but who is it that is going to make the decision on who gets what.

they could say well you live in a judicial state and you didn't have to leave although your lender said you did? or you shouldn't have been late making your payment because the bank told you YOU HAD to, or you couldn't apply for a loan mod. OR you were served a NOD as opposed to a NOI in error???? all of which are blatant violations according to the "list". so i guess we shall see soon enough!

who ever get's theirs first make certain you post! and DO NOT LIE IF YOU GET THE 125K because you ARE buying LUNCH!!! LOL!

[justbroke]

They "were" going to review all of the individual foreclosure paperwork for everyone that responded to the Independent Foreclosure Review (IFR) process. The banks, apparently, didn't like that it could be a lot of money, so they settled. Everyone who received the original letter (about 4.2 million homeowners or former homeowners) are eligible and the "review" is NOT going to be done. I guess they found enough dirt in the hundreds of thousands of foreclosures which were actually reviewed, that it made no sense to go further. PLUS it was taking a very very long time!

So, everyone, those that answered the original letters AND those that did not, will get something from the settlement. The settlement does not stop you from "independently" still pursuing and suing the lender/servicer.

I just called too since I received the letter back in November, but never responded. I checked the data at the Office of the Comptroller and it appears that only 1,300 out of 38,000 people in my county responded to the IFR!

Apparently, the smallest amount will be "a few hundred" dollars. So, you may see $300 if it was a "simple" case, or up to $125,000 for some complex cases. So, don't throw your mail away without looking at it first... at least for the next 8 weeks.