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Multi-State Settlement Reached with Countrywide Financial Corp., Countrywide Homeloans Inc., & Full Spectrum Lending Inc. Concerning Assistance to Louisiana Homeowners
On May 19, 2009, Attorney General Buddy Caldwell entered into a settlement with Countrywide Financial Corporation, Countrywide Home Loans, Inc., and Full Spectrum Lending, Inc. (hereinafter referred to collectively as“Countrywide”).
 
Under this settlement, Countrywide will offer payments to borrowers whose homes were foreclosed on and who meet certain eligibility criteria. Countrywide will offer additional relief to other eligible borrowers, such as loan modifications and relocation assistance.

In connection with the Foreclosure Relief Program under the settlement, Countrywide shall make available $1,191,279.00 for payments to eligible borrowers within the State of Louisiana, or otherwise for foreclosure relief/mitigation or related programs. On July 24, borrowers will be notified by mail if they are eligible to receive a settlement payment. The notice package will contain: 1) a letter explaining the settlement; 2) a Claim Form and Release; and 3) a pre-addressed, postage-paid envelopeto return the Claim Form and Release to the Settlement Administrator.

Countrywide has entered into settlements with the Attorneys General of the following states: Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Maine, Michigan, Mississippi, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Virginia, Washington, West Virginia, Wisconsin, Wyoming and the Hawaii Office of Consumer Protection.
 
Eligible borrowers who receive a notice package to participate in the Foreclosure Relief Program may obtain additional information on the Program from the settlement administrator, Rust Consulting, at (866) 411-6987.
 
For more information on the settlement, please visit countrywidesettlementinfo.com. To learn more about the other programs offered by Countrywide under the settlement, please contact Bank of America directly at 1-800-669-6607 or at my.countrywide.com/media/HRPFactSheet.html. If a consumer is unable to obtain relief under the settlement after contacting Bank of America, then that consumer may file a consumer complaint with the Consumer Protection Section of the Louisiana Attorney General’s Office. A consumer complaint form may be obtained on our website at www.agbuddycaldwell.com, click on “Consumer Complaints” or by phone at 1-800-351-4889.


Coming soon, the attorney's general office seeks to provide a mechanism by which to take online payments for collections.