REMEDY FOR SOME FORECLOSURE VICTIMS!
If you lost your home through foreclosure in 2009 or 2010 there may be a remedy waiting for you. The Office of the Comptroller of the Currency (OCC) has ordered an independent review of foreclosures processed by GMAC Mortgage, HSBC Finance Corp., Sun Trust Mortgage and EMC Mortgage.
If one of these loan servicers processed your foreclosure, and you believe that you were financially harmed during their foreclosure process, you may have some cash coming!
The government has determined that there may have been flaws in the foreclosure processing in some cases. Homeowners/borrowers who feel that they were financially harmed may request an independent review. If errors are found, the servicer will be required to compensate the borrowers for that financial injury.
Borrowers are eligible if:
- The home lost in foreclosure was the borrower’s primary residence
- The loan was at any step of the foreclosure process between January 1, 2009 and December 31, 2010
- The loan was serviced by one of the organizations listed above
- The request for a review must be received by the independent reviewing authority by April 20, 1012.
The review process is a free program, so there will be no charge to borrowers.
For more information, select this link:
http://www.federalreserve.gov/consumerinfo/independent-foreclosure-review.htm
Comments(0)