FTC to send out checks to borrowers overcharged Countrywide

July 21, 2011 1:49:59 PM PDT
Borrowers who were overcharged by Countrywide Financial more than three years ago are finally going to get what's due to them.

The Federal Trade Commission says it's sending out refund checks to more than 450,000 people who they owe money to. It's a result of a settlement reached with the mortgage lender more than a year ago.

The amount of the checks total nearly $108 million.