450K Homeowners To Receive Refunds From Countrywide

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.