Some 400,000 checks sent for a foreclosure settlement have gone missing after being sent to the wrong addresses, a report by the Huffington Post stated on July 24.

The Office of the Comptroller of the Currency said the 400,000 checks, a total of 10 percent that were already mailed, could not be delivered because they were sent to the wrong addresses. Office of the Comptroller spokesman Bryan Hubbard said efforts to reach the proper check recipients are ongoing.

A statement from Rust Consulting said the addresses to which the checks were wrongfully sent were either old or incomplete, and it is common for this kind of settlement.

Sadly, many people have to foreclose on their home due to mounting financial burdens. However, if you are considering this option for your home in Cedar Rapids, the legal team at Hong Law, PLC, might be able to help you defend your home from being foreclosed. Find out what your options may be by calling (319) 632-1400.

Eligible Iowa homeowners who filed valid foreclosure claims will receive payment checks, the attorney general’s office said on June 4.

Payments worth $1,480 will be mailed to 6,051 eligible homeowners whose mortgages were serviced by one of the five National Mortgage Settlement participant servicers. The five banks are Bank of America, Citi, JP Morgan & Chase, Wells Fargo, and Ally. Eligible homeowners submitted a valid claim and had their home foreclosed between January 2008 and December 2011.

The foreclosure checks are part of the $1.5 billion that was negotiated in the national settlement.

Facing the loss of your home is frightening and stressful. Our lawyers at Hong Law, PLC, understand this and, as such, work to help homeowners in Cedar Rapids take action to potentially prevent this action. Call (319) 632-1400 today to discuss your financial situation with us..