Homeowner awarded million-dollar mortgage settlement
Will homeowner ever receive a dime?
A court in California award a distressed homeowner quite a bit of money.
The homeowner charged that PHH Mortgage Services errors nearly cost him his home.
But what's unusual is the sheer size of the settlement, which PHH is fighting and other lawyers say is excessive.
According to the article:
PHH vice president Dico Akseraylian said Monday that the servicer believed the verdict wasn't supported by the facts presented in the case or by applicable law, and that the jury award "is grossly disproportionate to any alleged damages."
PHH "has taken steps to seek further judicial review of the case and verdict," he said, adding that "we take our responsibilities to borrowers seriously and remain committed to meeting all of our obligations as a servicer."