American banks that incorrectly foreclosed on U.S. homeowners' properties issued court-ordered rebate cheques to their victims that bounced.
Media reports Thursday suggest an unknown number of Americans received cheques from their mortgage providers this week that when they attempted to cash them, they received error messages saying there were insufficient funds in the account.
First, kick people out of their homes illegaly, then drag your heels in reaching a 9.3 BILLION $ settlement settlement, of which
- $5.7 billion will go to the banks so they can help homeowners in need stay in their homes.
goes into your pocket and then give the other 3.6 BILLION $ to these guys because they have such a good track record.
I did a quick google search and this came up on the first page
These guys seem to be notorious for not paying out. Who chose these guys and how does this kind of **** happen?
I wonder how much money they made sitting on that 3.6 BILLION $$ for as long as they could?
I also wonder who the owners are. I don´t really have time right now but did find this
In 1988, Rust began a new business segment – claims administration for class action settlements and bankruptcy cases. As the claims administration segment grew, it became a business of its own.
In 1995, Rust Consulting, Inc. became a separate operating entity focused on claims administration.
In 1999, Rust Consulting joined SOURCECORP, Inc., a predecessor company to SourceHOV. Rust remains a wholly owned subsidiary of SourceHOV.
Which led me to this
So it seems to be a privately owned company based in Texas in my understanding.
Anyway,getting back to the OP, I certainly feel for these people and find the whole process as utterly disgraceful.