Less than One Month Left to File Claim for SunTrust Foreclosure Settlement

Less than One Month Left to File Claim for SunTrust Foreclosure Settlement
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May 7, 2015

North Carolinians have less than a month to file a claim for part of a $2 million settlement with SunTrust.

More than 2,200 residents who lost their homes to foreclosure by SunTrust are eligible for direct cash payments, but must file their claim by June 4.

Those eligible to receive a cash payment had mortgage loans serviced by SunTrust and lost their primary residences to foreclosure between Jan. 1, 2008 and Dec. 31, 2013. In order to receive a payment, consumers must file claim forms online at nationalsuntrustsettlement.com or by mail by June 4, 2015.

Many North Carolinians who are entitled to money back under the settlement have not yet filed claims. According to a recent report by settlement administrator Rust Consulting, only 32 percent of North Carolina consumers included in the settlement have successfully filed their claim forms.

Eligible borrowers should have received a claims form in the mail from Rust Consulting, but more than 275 notices have been unable to reach borrowers whose addresses are undeliverable.

"Recovering from a foreclosure is challenging and we want to make sure North Carolinians who are eligible get these relief funds," North Carolina Attorney General Roy Cooper said in a statement. "Don't delay if you could be due money back."

To learn more about the settlement, visit the website, call 1-866-590-8532 or email settlementadminstrator@nationalsuntrustsettlement.com.