July 31st, 2009 by Reed Allmand 
According to an article in the Star-Telegram, Texans eligible to share in the nearly $7.5 million foreclosure restitution/settlement agreement from Countrywide Financial Corp. should be receiving claim forms in the mail this week.
The article said:
“The attorney general’s office investigated Countrywide in 2008 for encouraging homeowners to accept loans they could not afford, failing to fully disclose risky terms and writing loans for unqualified borrowers.”
The restitution/settlement agreement is the result of the investigation and applies to foreclosure victims who meet the eligibility requirements.
Eligibility requirements to receive restitution include:
- Borrowers’ mortgage loan was made by Countrywide.
- The loan must have been on an owner-occupied property.
- The first payment on the loan was due between January 1, 2004 and December 31, 2007.
- The borrower must have lost the property securing the loan through foreclosure, deed in lieu of foreclosure, or a short sale.
To find out more information visit: www.countrywidesettlementinfo.com
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
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