Victims of improper foreclosure may receive Compensation

If you or anyone you know was foreclosed on by any of 14 majors banks between Jan 1 2009 and December 31 2010 you may be due some money.

Except below: 

MORTGAGE SERVICERS TO OFFER INDEPENDENT REVIEW

OF 2009-2010 HOME FORECLOSURES

WASHINGTON, (Nov. 1, 2011) – Fourteen U.S. mortgage servicers and their affiliates are making available free, impartial Independent Foreclosure Reviews to certain of their borrowers as part of the consent orders entered into with the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency in April 2011. The reviews will be conducted by independent consultants upon request by borrowers who faced a foreclosure action on their primary residence during the period of Jan. 1, 2009 through Dec. 31, 2010.

If eligible borrowers believe that they were financially injured as a result of servicers errors, misrepresentations or other deficiencies in the foreclosure process, they can request a review of their foreclosure file to verify that their foreclosure process was handled properly. Foreclosure actions that may be eligible for a review include:

Property sold due to a foreclosure judgment.

Mortgage loans referred into the foreclosure process but removed from the process because payments were brought up-to-date or the borrower entered a payment plan or modification program.

Mortgage loans referred into the foreclosure process, but the home was sold or the borrower participated in a short sale, or chose a deed-in-lieu or other program to avoid foreclosure.

Mortgage loans referred into the foreclosure process and remains delinquent but the foreclosure sale has not yet taken place.

Read the entire article here: http://www.fsround.org/fsr/pdfs/press_releases/IFRPressReleaseFinal11-1.pdf

There have been so many proven stories of improper foreclosures that many people are going to get compensated. I hope homeowners do not miss out on this opportunity.

If financial injury is found through a review, borrowers could receive compensation.

 

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  1. #1 by 60minmortgaemod on November 11, 2011 - 11:24 pm

    Great addition. This is just the on the topic that I was looking for! Thanks!

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