Independent Foreclosure Review
The Federal Reserve recently released a video on the Independent Foreclosure Review. The video aims to help borrowers who believe they were financially harmed during foreclosure processes between 2009 and 2010.
Many borrowers across the country have gone through foreclosure in recent years. Sometimes consumers went through the process with unanswered questions and concerns about how their foreclosure was handled. And in some cases, there were major errors made by servicers that led to foreclosures that could have been avoided. Because of these practices, the Independent Foreclosure Review has been established to assist borrowers in getting answers and possibly compensation.
The Federal Reserve has set up a website about the Independent Foreclosure Review. The Federal Reserve offers an English language video and a Spanish language video that provide greater details, but here are the basics:
- Your mortgage must have been serviced by a participating servicer.
- Your foreclosure must have been initiated, processed, and/or completed between January 1, 2009 and December 31, 2010.
- The foreclosure had to be for your primary residence.
Please note that there are absolutely no fees attached to this process.
Independent Foreclosure Review
If your primary residence was involved in a foreclosure process between January 1, 2009 and December 31, 2010, you may qualify for a free Independent Foreclosure Review.
The Independent Foreclosure Review will determine whether individual borrowers suffered financial injury and should receive compensation or other remedy because of errors or other problems during their home foreclosure process.
If you believe you are eligible to participate in the program, you may complete and submit a Request for Review Form. It is important that you complete the form to the best of your ability; all information you provide can be useful.
All Requests for Review Forms must be submitted online or postmarked no later than July 31, 2012.
Select your mortgage servicer: (Not sure who your servicer is?)
- America’s Servicing Co.
- Aurora Loan Services
- BAC Home Loans Servicing
- Bank of America
- EverBank/EverHome Mortgage Company
- Financial Freedom
- GMAC Mortgage
- IndyMac Mortgage Services
- MetLife Bank
- National City Mortgage
- PNC Mortgage
- Sovereign Bank
- SunTrust Mortgage
- U.S. Bank
- Washington Mutual
- Wells Fargo
- Wilshire Credit Corporation
For help completing the form or to have questions answered, call 1-888-952-9105.
Monday through Friday, 8 am – 10 pm ET
Saturday, 8 am – 5 pm ET
Llame al 1-888-952-9105 para hablar con un representante que le podrá brindar gratuitamente traducciones de la información que le envió la Revisión Independiente de la Ejecución Hipotecaria y responder a sus preguntas acerca de la Revisión Independiente de la Ejecución Hipotecaria o completar el Formulario de Solicitud de Revisión.
The Independent Foreclosure Review is monitored by federal bank regulators, the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System, to ensure a fair and impartial process.
Esta información es precisa a la fecha de impresión y está sujeta a cambios sin previo aviso.
This information is accurate as of the date of printing and is subject to change without notice.