Homeowners who had a mortgage loan on a primary residence and who believe were financially harmed during the mortgage foreclosure process by GMAC Mortgage, HSBC Finance Corporation, SunTrust Mortgage or EMC Mortgage in 2009 or 2010 can request an independent review and potentially receive compensation.
The review is intended to determine if borrowers suffered financial harm directly resulting from errors, misrepresentations, or other deficiencies that may have occurred during the foreclosure process. The servicers are required to compensate borrowers for financial injury resulting from deficiencies in their foreclosure processes.
A number of other servicers supervised by the Office of the Comptroller of the Currency (OCC) are also required to conduct independent reviews, but are not included in the compensation order.
Borrowers are eligible for an independent foreclosure review if
- the property securing the loan was the borrower’s primary residence;
- the mortgage was in the foreclosure process (initiated, pending, or completed) at any time between January 1, 2009 and December 31, 2010; and
- the mortgage was serviced by one of the mortgage servicers listed here.
There are no costs associated with being included in the review; the review is a free program. Beware of anyone who wants payment to assist with the independent foreclosure review or any other foreclosure assistance program asking for up-front payments.
Requests for review by the servicers’ independent consultants must be received by April 30, 2012.
If you or someone you know feels your foreclosure may have been handled improperly, I strongly encourage you to carefully consider the information
about the review program.
Click here for more information.
Jeff
Good homes, good living!
http://www.SanJoseRealEstateSource.com
http://www.SanJoseShortSales.com
Jeff Spoelstra is a California residential real estate agent and REALTOR with years of experience making buying or selling property as easy and painless as possible. It’s my mission to provide the information you want and the help you need to get the home you’ll love.
Disclaimer: The above information is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. It is not intended to be construed as financial, legal or tax advice. California DRE license #01470808.
Tags: foreclosure, foreclosure review