Anyone out there think that they have been wrongfully foreclosed upon? Robosigning? Improper notification? Bank fraud? Homeowners who had their primary residence foreclosed upon between January 1, 2009 and December 31, 2010, may be eligible for an Independent Foreclosure Review.
We got hold of a copy of this foreclosure review and thought that it must be a scam from some lawyer or shady organization. Turns out that this review stems from The Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency (federal bank regulators). Did we mention shady companies?
This Independent Foreclosure Review will come from an independent consultant to identify eligible customers who may have been financially injured due to errors, misrepresentations or other deficiencies in their foreclosure process. If the review finds that financial injury occurred, the customer may receive compensation or other remedy.
o qualify, a mortgage loan would need to meet the initial eligibility criteria:
• The mortgage loan was serviced by one of the participating mortgage servicers.
• The mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010.
• The property was a primary residence.
Here is a good reason to check snail mail. Eligible customers will be mailed a letter by December 31, 2011 that explains the Independent Foreclosure Review process and a Request for Review Form that identifies various examples and options.
Anyone who has not received a letter in the mail can call 1-888-952-9105, Monday through Friday, 8 a.m.–10 p.m. ET or Saturday, 8 a.m.–5 p.m. ET.