The Kessler Settlement Class, the Equitable Tolling Sub-Class and the Non-Equitable Tolling Sub-Class, are defined, respectively, as follows: Kessler Settlement Class is defined as: All persons who obtained a second or subordinate, residential, federally related, non-purchase money, HOEPA qualifying mortgage loan from Community Bank of Northern Virginia or Guaranty National Bank of Tallahassee, that was secured by residential real property used as their principal dwelling and that was assigned to GMAC- Residential Funding Corporation n/k/a Residential Funding Company, LLC who was not a member of the class certified in the action captioned Baxter v.
Full Answer
What is a Class Action Settlement?
A class action settlement is reached when both parties in a class action lawsuit have decided that they no longer want to continue litigating the allegations in the class action lawsuit and want to settle the lawsuit, typically with a monetary benefit to the Class.
Filing a Claim & Proof of Purchase
Typically, Class Members will be required to file a claim with the Settlement Administrator if they hope to benefit from the class action settlement. In some cases, Class Members will be required to provide proof of purchase in order to benefit or at least to receive the maximum benefit available.
Important Deadlines
There are several important deadlines to pay attention to when participating in a class action settlement:
