LOS ANGELES (CBS) — If you’ve held a mortgage with Countrywide, be sure to check your mailbox for money.

More than 450,000 borrowers who were overcharged when they defaulted or fell behind on their mortgage will be getting refund checks.

The refunds are part of a settlement reached last year between Countrywide and the Federal Trade Commission.

Refunds will average $240 each, but some families will receive checks for more than $1,000.

Comments (3)
  1. RedDonnaAnn says:

    Wow. A whole $240 from a company that essentially started the collapse of the world-wide economy. How generous is the US Congress?

    1. shiggity says:

      So true, I wonder how much the congressmen checks were? add some zero’s to that 240

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