If You Have A Mortgage Loan, Or Secured Home Equity Loan Or Home Equity Line Of Credit Which Was Active And Serviced By EMC, Washington Mutual, And/Or Chase Home Finance, LLC As Of January 1, 2005, You May Be Entitled To Money From A Class Action Settlement.
A class action settlement has been reached in a class action lawsuit against Chase Home Finance, LLC (“Chase Home Finance” or “Defendant”) in the United States District Court for the District of South Carolina (styled Jonathon Rowles v. Chase Home Finance, LLC, Class Action Case No. 9:10-1756) alleging, among other things, that Chase did not systematically or properly reduce the interest rate for eligible loans, and foreclosed upon and negatively reported regarding the creditworthiness of SCRA-protected borrowers (the SCRA refers to the Servicemembers Civil Relief Act (“SCRA”), which provides certain protections to servicemembers’ mortgage loans and home equity loans and lines of credit while a servicemember is on active duty and for some period following active duty) and allegedly subjected SCRA-protected borrowers to improper collection calls that were the result of Chase’s failure to adequately apply SCRA protections, according to the Chase Home Finance Mortgage Loan, Secured Home Equity Loan & Home Equity Line of Credit HELOC Servicemembers Civil Relief Act SCRA class action settlement notice.
Unless otherwise excluded, you are reportedly a member of the Chase Home Finance Mortgage Loan, Secured Home Equity Loan & Equity Line of Credit HELOC Servicemembers Civil Relief Act SCRA Settlement class if:
You are a borrower whose mortgage loan, or secured home equity loan or home equity line of credit, was active and serviced by EMC, Washington Mutual, and/or Chase as of January 1, 2005, and you were sent or will be sent a refund from Chase in connection with its investigation of potential SCRA compliance breaches.
Under the Chase Home Finance Mortgage Loan, Secured Home Equity Loan & Equity Line of Credit HELOC Servicemembers Civil Relief Act SCRA class action settlement, there are two funds to pay Class Member claims in this case: Fund I consists of $12,000,000.00, and Fund II consists of $15,000,000.00. In addition to cash benefits, Chase will reportedly remove prior derogatory credit reporting it made during Class Members’ SCRA protection periods in connection with loans included in the Settlement Class.
For more information on the Chase Home Finance Mortgage Loan, Secured Home Equity Loan & Equity Line of Credit HELOC Servicemembers Civil Relief Act SCRA class action settlement, visit Chase Home Finance settlement website:
www.chasescrasettlement.org
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