We are investigating a potential class action on behalf of homeowners who have had Federal Housing Administration (FHA) mortgages, and were charged excess interest after the mortgage was discharged.
The National Association of Realtors has reported that FHA continues to charge interest through the end of the month that the mortgage is paid off.
FHA is the largest residential mortgage lender in the country. NAR has found that FHA’s collection of excess interest payments results in overpayments of $578 million in interest every year.
If you have paid off an FHA loan, and believe you were improperly charged, please contact us by completing our online consumer intake form.
Related Links:
Kenneth Harney, With FHA Loans, Time Is Money, Columbus Dispatch, April 3, 2011.