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Foreclosure review deadline extended
Wednesday, August 08, 2012
If you suffered financial harm due to a foreclosure in 2009 and 2010, you now have more time — until Dec. 31 — to request a free independent review of your foreclosure. The Federal Reserve and the Comptroller of the Currency (OCC) have required 14 mortgage servicers to conduct Independent Foreclosure Reviews (IFRs) to identify misrepresentations and errors in the foreclosure process. IFRs cost you nothing and will not affect other foreclosure-related actions.
If errors are found, compensation could range from $500 to $125,000 per homeowner. Compensation may be paid for wrongful foreclosures, rejections of loan modifications, lost paperwork, unjustified delays and other errors. Borrowers also may be eligible for loan modifications, corrections to credit reports, etc.
If you were subject to foreclosure in 2009 or 2010, Consumer Action encourages you to request a full file review. For further details, including how to apply, visit the Independent Foreclosure Review website or call (888) 952-9105.
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