This is a burlingtonfreepress.com article.
The state Attorney General’s Office this week announced two settlements that will result in payments to Vermonters impacted by debt collection and mortgage foreclosure.
Bank of America will pay the state $1.25 million under a settlement announced Friday.
Of that amount, $250,000 will be reserved to pay Vermont homeowners who can show that Bank of America billed them incorrectly after a mortgage foreclosure settlement agreement.
“Homeowners faced with foreclosure need to know that when their bank makes a deal to settle the foreclosure action, the deal will be honored,” Attorney General Bill Sorrell said in a statement. “When banks fail to live up to promises they make to Vermont homeowners, there will be consequences.”
Vermonters can apply for payments by submitting documents to the Vermont Attorney General’s Office by Sept. 8.
Any money that remains in the fund at the end of the process will go to housing and foreclosure matters at Vermont Legal Aid and the Vermont Judiciary.
The overall payment for Vermont “includes the State’s fees and costs incurred in investigating and litigating this matter,” according to the settlement document.
Attorney General Sorrell said the remaining $1 million can be appropriated by the Legislature and the governor. The state budget anticipates some settlement revenue through his office each year.
In a separate case, Chase Bank will also pay refunds to Vermont customers following a settlement over debt collection practices.
Vermont will reap $110,000 from the multistate and federal deal, the Attorney General’s Office announced.
Chase will contact any Vermonters who paid more than they actually owed, said Assistant Attorney General James Layman.
“Under the restitution program so far, Chase has paid 10 Vermonters a total of approximately $20,000, and Chase is continuing to review records to identify others who are entitled to payments,” Layman said in an email.
Fewer than 300 Vermonters were affected by the inaccurate billing practices, according to an Attorney General’s Office news release.
Piggybankblog Courtroom Bailiff: “All rise! .The Honorable Judge John Wright has left the Courtroom of Public Opinion!”
PRIVACY NOTICE: Warning – any person and/or institution and/or Agent and/or Agency of any governmental structure including but not limited to the United States Federal Government also using or monitoring/using this website or any of its associated websites, you do NOT have my permission to utilize any of my profile information nor any of the content contained herein including, but not limited to my photos, and/or the comments made about my photos or any other “picture” art posted on my profile.
You are hereby notified that you are strictly prohibited from disclosing, copying, distributing, disseminating, or taking any other action against me with regard to this profile and the contents herein. The foregoing prohibitions also apply to your employee , agent , student or any personnel under your direction or control.
The contents of this profile are private and legally privileged and confidential information, and the violation of my personal privacy is punishable by law. UCC 1-103 1-308 ALL RIGHTS RESERVED WITHOUT PREJUDICE