As I have told you previously, in February of 2012 through the joint efforts of 49 state attorneys general as well as federal authorities a 25 billion dollar settlement was reached with the country’s five largest mortgage servicers, namely Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo.  Funds from the settlement are to be paid to harmed borrowers as well as to the states and federal government.  The claim involved unfair and deceptive mortgage practices.  Initial payments to borrowers who have already filed claims started on June 10th.  Unfortunately, scam artists have been contacting homeowners representing that they are with the banks involved.  They ask for your checking account number and bank routing number in order to facilitate a payment to you under the settlement.  This is a scam.  Banks will not be contacting you and if they did, they would already know your account number and the routing number of the bank.  These scammers are only seeking these numbers in order to create counterfeit checks and empty your checking account.  Other scammers are contacting victims and telling them that for a fee, they can facilitate early payments under the settlement to the victim.  This too is a scam.  No one can get you your settlement payment, if you are owed one, any quicker for a fee.


For information about the settlement program that you can trust go to the following link which is the link for the website of the National Mortgage Settlement set up by the state attorneys general who got the settlement.  In particular, you will want to go to the section of the website entitled “Help for the Borrower.”  In addition, you should not trust anyone who contacts you who says that for a fee they can get you your settlement payment faster.  That is a scam.  You also should not provide any information to anyone who calls you purporting to be from the banks or attorneys general involved in the settlements.  Scammers are posing as the banks or attorneys general merely to get your personal information and scam you out of your hard earned money.  If you have any questions about your eligibility for any funds under the settlement, use the above link to access the contact information for the banks and governmental agencies involved in the settlement for trustworthy information.