Michelle Wants You To Know...

The independent foreclosure review directive deadline has been extended thru July 31, 2012.  Consumers who want to submit their request to have their foreclosure cases checked by a third party now have additional three months to do so as per the Federal Reserve and the Office of the Comptroller of the Currency (OCC).  The deadline has been pushed to give consumers more time to file for a case assessment if they believe they suffered financial injury as a result of Robo-Signing errors in foreclosure actions in 2009 or 2010

The independent foreclosure reviews, as mandated and enforced by the federal regulatory agencies, only apply to the following participating servivers:

·         America’s Servicing Company

·         Aurora Loan Services

·         BAC Home Loans Servicing·         Bank of America

·         Beneficial

·         Chase

·         Citibank

·         CitiFinancial

·         CitiMortgage

·         Countrywide

·         EMC

·         Everbank/Everhome Mortgage Company

·         Financial Freedom

·         GMAC Mortgage

·         HFC

·         HSBC

·         IndyMac Mortgage Services

·         MetLife Bank

·         National City Mortgage

·         PNC Mortgage

·         Sovereign Bank

·         U.S. Bank

·         Wachovia Mortgage

·         Washington Mutual

·         Wells Fargo

·         Wilshire Credit Corporation

Eligibility for review requires the following:

·         Loan  was serviced by one of the participating companies above,

·         The mortgage loan was subject to foreclosure between January 1, 2009 and

December 31, 2010

·         The property securing the mortgage was the borrower’s primary residence.

There are no costs associated with the foreclosure reviews.  Eligible borrowers should have received a letter by the end of 2011 detailing the process.