Okay, so the big banks admit they may not have conducted all of their foreclosures correctly... and now homeowners who were victims of unfair foreclosures can call and lodge a complaint at 1-888-952-9105.
According to a recent article in the Wall Street Journal by By Alan Zibel and Nick Timiraos:
Bank regulators and the mortgage industry have launched a complaint process to reach out to more than 4 million homeowners to find and compensate any who were harmed by deficiencies in banks’ foreclosure operations.
Bank regulators in April ordered 14 large mortgage servicing firms to fix problems in their foreclosure-handling processes. The Office of the Comptroller of the Currency and Federal Reserve required these companies to hire independent consultants to fix those problems. The industry has now started sending letters to around 4.5 million borrowers who were in some stage of foreclosure in 2009 or 2010.
Consumers who want to have their foreclosure cases reviewed must submit their information by April 30, though it remained unclear how much they will be compensated, or whether they would be required to waive their right to sue their mortgage company to receive compensation.
The regulators and mortgage servicers have also launched a toll free number 1-888-952-9105 and a website.
The affected mortgage servicers include the nation’s largest banks, such as Bank of America Corp., Wells Fargo & Co., J.P. Morgan Chase & Co. and Citigroup Inc.
See the article here:
http://blogs.wsj.com/developments/2011/11/01/robo-signing-prompts-new-foreclosure-reviews/
Has anyone received help from this hotline? If so, please post your success story here!
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