The Office of Comptroller of Currency and Federal Reserve created a process to help borrowers who were facing foreclosure in 2009 or 2010 with several servicers. This process will help these borrowers who believe they suffered financial injury as a result of errors in the foreclosure process present their case to an independent third party reviewer. These borrowers have been identified and were sent a Notice with clear instructions how to apply to be reviewed.
The borrowers’ greatest chance of obtaining financial restitution will be a clearly documented, supported paper trail they can provide to the independent third party reviewer. Situations that may have led to the financial injury might be mortgage balance when foreclosure was completed was mare than the borrower owed, fees or payments were improperly charged, borrower was performing under a modification agreement but was foreclosed on anyway, a foreclosure took place while the borrower was under bankruptcy protection, a military member protected by the Servicemembers Civil Relief Act was foreclosed on, robosigning, MERS foreclosure…the list is extensive.
If you or someone you know believe a financial injury occurred and was in the process of foreclosure on your principal residence – i.e. process started and ongoing during 2009-2010, foreclosure completed during 2009-2010, or foreclosure started in 2009-2010 and completed or cancelled later send your completed Independent Foreclosure Review Notice back with your supporting documentation before the deadline of July 31, 2012. Did receive the notice or through it away not realizing what it was? Call (888)952-9105 or go to www.independentforeclosurereview.com for more information.
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