State Farm Bank® has learned some mortgage customers have received a letter regarding a class-action lawsuit solicitation. 

Details
The letter states in part:

  • You are a potential plaintiff in a national litigation settlement
  • Seeking $75,000 in damages per individual
  • Going after your Fraudulent Mortgage Note
  • Multiple Claims of Fraud and Misrepresentation
  • Your note might also be part of a MERS Litigation Lawsuit
  • Your loan with State Farm Bank may be eligible for a national settlement aimed at fraudulent actions. The goal is to make your illegal and Fraudulent Mortgage go away, seek monetary relief up to $75,000, stop foreclosure, and/or seek compensation for damages.
  • You will become a joined named plaintiff in a national lawsuit that will seek, among other things, to void your note(s), to give you your home free and clear, and/or to award you relief and monetary damages.

The State Farm Corporate Law department has verified this letter is a scam hoping recipients will pay the sender a fee for little to no service rendered.  The Better Business Bureau  is aware of this type of scheme and has posted a warning to consumers on its site.  If you receive such a letter, please contact State Farm Bank at 1-877-734-2265.

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