Should I agree to relinquish my right to legal action in exchange for a refund of escrow overcharges due me?

Asked over 1 year ago - Seattle, WA

I received a notice informing me that the escrow company, used in my home purchase, has a pending class action suit for overcharges. The next day I recieved a letter from a title insurance company offering me $1859.00, that they say I was overcharged at closing. The repayment comes with an agreement to not sue them and I have to agree to cooperate with any criminal prosecution as well as other stipulations.
I`m concerned that the overcharges may be greater than the title company states in their letter. What steps should I take to determine if the amounts I was charged are correct and should I agree to relinquish my rights in order to receive my refund?

Attorney answers (1)

  1. Jack Richard Lebowitz

    Pro

    Contributor Level 18

    2

    Lawyers agree

    1

    Answered . Like any class action, you can "opt out" of a proposed settlement and bring your own lawsuit. You may get more, you may get less, but you will be paying your own attorneys what you're getting a free windfall from here by just going along with a settlement.

    But unlike most class actions, you're not getting a $5 off coupon for your next purchase of car insurance or contact lenses. You're talking getting serious money for basically doing nothing.

    My advice: take the money and run.

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