Homeowners who've suffered financially because of improper foreclosure practices are entitled to have their case reviewed as part of a government consent order for 14 mortgage providers.
Borrowers who experienced provider errors, misrepresentations and other problems in 2009 and 2010 can report foreclosure complaints and request an independent review.
There is NO charge for the review and applying for one will not affect any other foreclosure prevention effort homeowners are attempting.
A reviewer (other than their provider) will evaluate the process and search for mistakes or abuses. Consumers can request a foreclosure process review if they have had:
Mortgage providers began notifying consumers by mail of their right to review on Nov. 1 and will continue throughout the year to try to contact 4.5 million affected homeowners.
Consumers who do not receive notice from their provider can call 888-952-9105.
Consumers will be eligible for compensation for their losses where reviewers find errors or abuses. Federal regulators have not decided what or how much compensation victims will be entitled to.
Homeowners must submit a completed 5-page review form by April 30, 2012.
For more details click on www.IndependentForeclosureReview.com
Participating providers include:
America's Servicing Company
Aurora Loan Services
Bank of America
EverBank/Everhome Mortgage Company
IndyMac Mortgage Services
National City Mortgage