Frankfort, KY – Some Kentucky consumers who had home loans with Countrywide Mortgage can begin making claims for a financial settlement that resolved allegations of predatory lending practices against the company. Countrywide established a nationwide fund of $150 million to provide loan modifications to assist up to 395,000 borrowers.
Attorney General Jack Conway says affected borrowers will be eligible for an average of around $1,500. Only Countrywide Mortgage borrowers whose homes were foreclosed within 12 months could qualify for the money. Conway said people eligible should receive claims forms in the mail this week.