Dear Friends,
Your current or former loan servicer may owe you money. Was your home in any stage of foreclosure in 2009 or 2010? If so, you may be eligible for up to $125,000 in cash and/or other compensation due to the mishandling of your loan.
Under a settlement between the federal government and mortgage
servicers, independent reviewers will determine if borrowers suffered
financial harm resulting from errors, misrepresentations, or other
deficiencies during the foreclosure process. For example, some borrowers
were improperly denied modifications; others were current on payments,
but lost their homes anyway. Servicers must compensate borrowers for
financial injury caused by these errors.
Sadly, only about 5% of eligible borrowers have applied for review so
far. When I saw this program was not getting a sufficient response, I
met with regulators to demand extension of the deadline, robust outreach
to the hardest hit communities, and accountability for servicers who
fail to ensure adequate participation.
It does not matter when or if the foreclosure was actually completed as
long as your home was in the foreclosure process in 2009 or 2010, but you must apply for review. The new deadline is December 31, 2012. Applying for review will not disrupt any modification you have already applied for or received.
www.independentforeclosurereview.com
More detailed information is available on my website. Also, please share this information with anyone who may need it and contact one of my offices with any questions or concerns. Don’t leave this money on the table!
Sincerely,
Corrine Brown
Member of Congress