Independent Review Coming for Some People Who Lost Their Homes to Foreclosure

Submitted by georgiana on Mon, 09/19/2011 - 22:42.

National Mortgage News ran an interesting story today about an independent review that is coming for foreclosure victims. Not for all of them but those who were impacted by specific behavior by specific banks will get the opportunity for the review. This is fantastic news for people who often are confused and feel that they have no say in what is happening. I think we've all heard horror stories about folks who lost their homes even when they were making payments, or had worked out an agreement with the bank.

http://www.nationalmortgagenews.com/dailybriefing/2010_434/independent-r...

"Under the direction of federal regulators, servicers have retained independent consultants to review files to identify borrowers who were harmed financially. (All 14 – including Bank of America and Wells Fargo – are party to robosigning negotiations being conducted with state attorneys general.)

Comptroller Walsh stressed that more needs to be done to assure that borrowers are entitled to restitution and remediation – and are actually contacted."