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Sunday, May 26, 2024 | Back issues
Courthouse News Service Courthouse News Service

Class Of Katrina Victims Says|Countrywide Tricked Them

GULFPORT, MISS. (CN) - Countrywide Home Loans defrauded victims of Hurricane Katrina by claiming it was "gratuitously deferring the payment" of their mortgage loans, without revealing that this deferral would be followed by "demands for lump sum payments, onerous work-outs, and/or loan modifications that put hurricane victims in a worse position capitalizing interest and escrow, and stripping equity from their homes," a class-action complaint claims in Federal Court.

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