Class Action Lawsuit Against Citimortgage For Ripoff Report

What are class action lawsuits? Well, put simply, they are a lawsuit where people who have been affected by the same injury (class) can join together in a lawsuit against the entity, company, or person who caused the injury. In the case of Citimortgage, this lawsuit was brought by a group of former and current Citimortgage employees who claimed that the company had significantly understated their interest rates on numerous loans they sold to their clients. This has been a major issue plaguing the housing industry ever since the housing crash.

The fact that Citimortgage sold its loans to its borrowers based on significantly understated interest rates is what brought about the class action lawsuit.

Citimortgage decided to settle the case out of court rather than go to trial because they were afraid that going to trial would take years and cost them too much money. Some may say “so what” but what if you don’t have the money to litigate a case that could take years to resolve? You have to ask yourself if this is a risk that you are willing to take. If your answer is no, then you should call your attorneys and see what they have to say about trying to negotiate a settlement.

If you don’t have enough money to hire an attorney, then try to do it yourself. However, before you do anything, make sure you read the entire Complaint and Class Action Lawsuit Against Citimortgage thoroughly. There is so much information in this Complaint, that it would be foolish for you to just pick up the phone and dial without knowing what you are doing. If you are planning on calling your attorney to discuss the complaint, then do so at least two months before the hearing.

Do you know that Citimortgage was ordered to pay $odi million in penalties for submitting defaulted home loans to the mortgage servicing companies?

Citimortgage settled this matter with the United States government for a total of $one million. This means that they will be getting a check minus what the fines were, plus the fees that the government charges. So, now that you know when the class action lawsuit against Citimortgage was filed, you can get your attorney to file your lawsuit against the company starting in Aug 2021. The date of this class action lawsuit is going to be set by the United States government and could start as soon as Jan 2021.

Your attorney will need information about this class action settlement. He or she will need to find out who approved the settlement, how much money went to who, and when the money was divided among the plaintiffs. This information can be found on the United States government’s website. They also have a list of attorneys who are willing to help those who want a class action lawsuit against Citimortgage and the likes of them.

It may take some time for you to have your lawsuit filed and ready to go, but at least you know who is at the very bottom of this ripoff report and who needs to be put on notice before any more complaints come in. There are other ripoff reports that may be useful for similar situations, so take advantage of this opportunity now. You may also want to work with the same class action settlement company to learn how you can settle your claims.

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