Casey Alerts Constituents to Potential Problem With Foreclosure Settlement Checks

Foreclosure Settlement Checks Can Be Easily Mistaken for Junk Mail

Washington DC- Today, U.S. Senator Bob Casey (D-PA) alerted Pennsylvanians that foreclosure settlement checks could easily appear to be junk mail at first glance. Homeowners across Pennsylvania and throughout the country who were in foreclosure during 2009 or 2010 may receive checks in the mail as a result of a federal settlement regarding foreclosure abuses.

Payments to 4.2 million mortgage borrowers began Friday, April 12, under an agreement reached this year between federal banking regulators and 13 major mortgage lenders.  The settlement provides $3.6 billion in cash payments to borrowers whose primary residence was in any stage of foreclosure in 2009 or 2010, and whose mortgages were serviced by one of the companies.

Unfortunately, these checks are placed in packages that can easily appear to be junk mail.

“I’m urging constituents who may be expecting a foreclosure settlement to carefully examine what they receive in the mail,” Senator Casey said. “Some of these are constituents were improperly foreclosed upon and it’s important they receive these funds that are owed to them.”

Attached is one piece of mail a Pennsylvanian received and initially thought was junk.

 

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