Few respond to foreclosure review offer from Pace Florida

Few respond to foreclosure review offer from Pace Florida

About 4.1M people were offered a free paperwork review of their foreclosure process, but only about 4% followed through. Read more

By April 30, fewer than 165,000 people had applied to have their foreclosures checked for mistakes – about 4 percent of the 4.1 million who received letters about the free reviews late last year, according to the Office of the Comptroller of the Currency. The reviews were agreed to by 14 major mortgage servicers and federal banking regulators in a settlement last year over alleged foreclosure abuses.

So few people have responded that another mailing to almost 4 million households will go out in early June, reminding them of the July 31 deadline to request a review, OCC spokesman Bryan Hubbard says.

If errors occurred, restitution could run from several hundred dollars to more than $100,000.

Today's Prayer
Dear God, Thank you for caring so much that you sent your Holy Spirit to touch me and live within me, sealing me unto the day of redemption. Thank you that there is an Intercessor and Savior, praying for me and standing in my stead when I do not even have the words to say. Sometimes, there is just so much to pray for, so many needs or so much heartache that I just do not know what to pray. But you know my heart. You know my needs. You know the needs of those for whom I am burdened. Father, I come to you now offering words of praise and thanksgiving, and trusting you to always be there and to answer the cries of the heart. I love you. In Jesus' name, amen.

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Few respond to foreclosure review offer from Pace Florida

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