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Home Owners May Receive $125K For Bank Robo-Signing Foreclosure Fraud

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Real Estate Agent with HomeSmart NCG - The Diamond Executives Real Estate Group 01862396

Home Owners with Foreclosure Errors May Receive More Than $125,000 Compensation From Banks

HOME OWNERS WHO WERE SUBJECT TO FORECLOSURE ABUSES DURING 2009 AND 2010 MAY BE ELIGIBLE TO RECEIVE MORE THAN $125,000 IN COMPENSATION FROM BANKS, REGULATORS ANNOUNCED THURSDAY AS PART OF THE INDEPENDENT FORECLOSURE REVIEW. 

MORE THAN A YEAR AGO, REGULATORS UNCOVERED NUMEROUS FORECLOSURE ERRORS FROM LENDERS’ PROCESSING PAPERWORK ON FORECLOSURES AGAINST HOME OWNERS. MISTAKES RANGED FROM ERRORS ON LOAN MODIFICATIONS TO WRONGFUL FORECLOSURES. 

THE OFFICE OF THE COMPTROLLER OF THE CURRENCY AND THE FEDERAL RESERVE RELEASED THURSDAY HOW MUCH COMPENSATION AFFECTED HOME OWNERS WILL RECEIVE. 

HOWEVER, THE REGULATORS CAUTION THAT THE MAJORITY OF ELIGIBLE HOME OWNERS MAY NOT SEE ANY MONEY. MORE THAN 4 MILLION BORROWERS RECEIVED LETTERS FROM BANKS SAYING THEY WERE ELIGIBLE FOR A REVIEW OF THEIR FORECLOSURE CASES BY INDEPENDENT CONSULTANTS. HOWEVER, ONLY 340,000 CASES HAVE BEEN REVIEWED AS OF MAY 31. REGULATORS HAVE EXTENDED THE DEADLINE SO THAT MORE AFFECTED HOME OWNERS CAN TAKE ADVANTAGE. THE DEADLINE IS NOW SEPT. 30. (ORIGINALLY IT WAS JULY 31.)

THE FOLLOWING IS A LIST FROM THE AGENCIES OF POSSIBLE COMPENSATION HOME OWNERS MAY SEE FROM THEIR FORECLOSURE REVIEWS:

▪ HOME OWNERS WHO WOUND UP IN FORECLOSURE AFTER ERRORS DURING OR AFTER A TRIAL LOAN MODIFICATION

POSSIBLE COMPENSATION: THEY’LL RECEIVE THE VALUE OF THEIR HOME'S EQUITY AT THE TIME OF FORECLOSURE, PLUS $125,000. IF THEY WERE ABLE TO GET THEIR HOME BACK PRIOR TO FORECLOSURE, THEY'LL RECEIVE $15,000.

▪ MILITARY MEMBERS WHO LOST THEIR HOMES TO FORECLOSURE WHILE STILL ON ACTIVE DUTY

POSSIBLE COMPENSATION: THE VALUE OF THEIR HOME'S EQUITY AT THE TIME OF FORECLOSURE, PLUS $125,000. IF THEY HAD NEGATIVE EQUITY IN THEIR HOME, THEY’LL STILL RECEIVE $125,000.

▪ HOME OWNERS WHO LANDED IN FORECLOSURE EVEN THOUGH THEY WERE NOT IN DEFAULT

POSSIBLE COMPENSATION: THEY’LL RECEIVE $15,000 IF THEY WERE ABLE TO GET THEIR HOMES BACK. IF THEY LOST THEIR HOMES, THEY’LL RECEIVE $125,000 PLUS ANY EQUITY FROM THEIR HOMES.

▪ HOME OWNERS WHO EXPERIENCED ANY ERRORS OR PROBLEMS WITH LOAN MODIFICATIONS (SUCH AS BEING DENIED A LOAN MODIFICATION BY A LENDER OR A LENDER ACTING TOO SLOW IN PROCESSING AN APPLICATION)

POSSIBLE COMPENSATION: THEY MAY RECEIVE UP TO $15,000, PLUS ANY HOME EQUITY. 

ANY OTHER ERRORS OR ABUSES UNCOVERED IN THE REVIEWS, SUCH AS BANKS USING THE WRONG INTEREST RATES ON APPROVING APPLICATIONS, WILL BE DETERMINED ON A CASE-BY-CASE BASIS FOR POSSIBLE COMPENSATION, THE AGENCIES SAID. 

SOURCE: “U.S. SETS RULES FOR FORECLOSURE COMPENSATION,” THE WALL STREET JOURNAL (JUNE 21, 2012) AND “HOMEOWNERS TO RECEIVE UP TO $125,000 FOR FORECLOSURE ABUSES,” CNNMONEY & daily real estate news (JUNE 21, 2012)

HERE ARE THE PARTICIPATING SERVICERS AND THEIR AFFILIATES:

AMERICA'S SERVICING COMPANY
AURORA LOAN SERVICES
BAC HOME LOANS SERVICING
BANK OF AMERICA
BENEFICIAL
CHASE
CITIBANK
CITIFINANCIAL
CITIMORTGAGE
COUNTRYWIDE
EMC
EVERBANK/EVERHOME MORTGAGE COMPANY
FINANCIAL FREEDOM
GMAC MORTGAGE
HFC
HSBC
INDYMAC MORTGAGE SERVICES
METLIFE BANK
NATIONAL CITY MORTGAGE
PNC MORTGAGE
SOVEREIGN BANK
U.S. BANK
WACHOVIA MORTGAGE
WASHINGTON MUTUAL
WELLS FARGO
WILSHIRE CREDIT CORPORATION
 

ARE YOU GETTING A REVIEW? I'D LIKE TO HEAR ABOUT YOUR EXPERIENCE.
PLEASE E
MAIL ME: SANTACLARITAVALLEYESTATES@GMAIL.COM

"OUR TRUSTED ATTORNEY PROVIDER LAW FIRMS WERE RESPONSIBLE FOR A 250 BILLION DOLLAR SETTLEMENT IN ONE OF OUR NATIONS LARGEST SUPREME COURT CASES AGAINST THE TABACCO INDUSTRY. THROUGH OUR DIRECT PARTNERSHIP WITH THEM, YOU'LL HAVE THE SAME REPUTABLE LAW FIRM FIGHTING FOR YOU IN THIS FORECLOSURE CRISIS.

IF YOU WOULD LIKE IMMEDIATE ASSISTANCE REGARDING YOUR FREE INDEPENDENT FORECLOSURE REVIEW, CALL 661-208-1855."

IF YOU'RE CURRENTLY FACING FORECLOSURE AND WOULD LIKE TO REQUEST AN IN PERSON, CONFIDENTIAL NO OBLIGATION CONSULTATION TO HELP YOU AND YOUR FAMILY CREATE A DETAILED PLAN OF ACTION TO STOP FORECLOSURE ACTIONS, PLEASE CALL BEFORE IT'S TOO LATE. YOU HAVE OPTIONS!

NO ONE DESERVES TO BE FORCED TO LOOSE THEIR HOME TO FORECLOSURE! FURTHERMORE, THERE'S NO FINANCIAL SITUATION THAT I CAN'T HELP YOU RESOLVE.

DO YOU KNOW SOMEONE WHO IS STRUGGLING TO KEEP UP WITH HIGH MORTGAGE PAYMENTS AND THE BANK HAS CONTINUED TO IGNORE YOUR PLEA FOR ASSISTANCE? CALL US TODAY! MY AFFILIATES HAVE HELPED THOUSANDS OF HOMEOWNERS AVOID FORECLOSURE AND REGAIN THE FINANCIAL STABILITY THEY DESERVE FOR THEIR FUTURE. WE HAVE A TEAM OF LICENSED AND CERTIFIED REALTORS, MORTGAGE BROKERS, UNDERWRITERS, LOSS MITIGATION SPECIALISTS, PARALEGAL ASSISTANCE AND ATTORNEYS WHO BUILT RELATIONSHIPS THAT ARE BASED ON HONESTY, PROFESSIONALISM, WIN-WIN DEALS AND POSITIVE RESULTS. CALL TODAY TO DISCUSS YOUR REAL ESTATE EVALUATION. WE PROUDLY SERVE ALL OF SOUTHERN CALIFORNIA & NETWORK REFERRALS THROUGHOUT THE UNITED STATES."

KATRINA ROTH, CDPE, REALTOR®
"CERTIFIED SHORT SALE & PROBATE REAL ESTATE SPECIALIST"
KELLER WILLIAMS VIP PROPERTIES
25124 SPRINGFIELD COURT, SUITE 100
VALENCIA, CA 91355
DIRECT (661) 208-1855
OFFICE (661) 964-1218
SANTACLARITAVALLEYESTATES@GMAIL.COM
HTTP://WWW.LOSANGELESPREFORECLOSURESPECIALIST.COM
WWW.KATRINAROTH.POSTLETS.COM
DRE LICENSE # 01862396 

Anonymous
antonio trawick

we had tried to save our home several times and we were scamed once by fidility company for 1,500.00 and 400.00 for a nother place and we also talked to citi bank or group and they just keep brushing up off like we didn't matter but it was our home we were lossing and it didn't seem to bother them it was stressful when they always had someone coming to our home taking pictures and wanting to come in our home to get it aprased and they came to our home and when we gave them the keys they treated us like we did somthing wrong...we tried so hard to same our home we also ask for copys of our payment history and they only sent 3 mo. and said that is all they have...even tho our home was sold we would like to be able to get another one hope you all can help.   thank you from the trawick family                                                                                                                      

Feb 24, 2013 09:11 AM
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