Will you benefit from an independent foreclosure review?

Are you among the millions of homeowners who believe their house keys were yanked prematurely after facing foreclosure? If so, you may get a remedy after all.

As many as 4.5 million homeowners who believe they were unfairly or illegally the target of foreclosure can now request an independent review and may receive restitution if the finding goes their way.

How much of a restitution, according to an Atlanta Journal-Constitution report, isn’t clear, but Georgians would be among those lining up. The state is a leader when it comes to foreclosure proceedings.

John Walsh, acting U.S. comptroller of the currency, said current and former customers of 14 loan servicers – including Wells Fargo, SunTrust Banks, Bank of America and JPMorgan Chase & Co – would be eligible to request the reviews.

The foreclosed home had to be a primary residence between Jan. 1, 2009, and Dec. 31, 2010.

More information is available at IndependentForeclosureReview.com.

For many who’ve lost their home, the development is bittersweet. Are you among them?

12 comments Add your comment

danielle foster

November 1st, 2011
11:44 pm

The entire “home saving” plan pushed by the feds has been a farce. People who truly deserve help–i.e., suffer job loss or downsizing, illness, disasters, etc-have been helped minimally. People who don’t want to pay their mortgages because they were/are “under water” have benefitted. In fact, I struggled for two years to pay TWO mortgages and did not walk away from either mortgage commitment. I made a bad choice to downsize at a time that left me with two mortgages, and I struggled to pay them both, but pay them, I did. When I finally sold the larger house, I broke even, making not one penny on the sale. Those are the breaks. We have to meet our commitments, and anyone who does a “walk-away” (barring the job loss, illness or disaster reasons) should be forced to pay what they borrowed originally. They are the ones who have contributed significantly to the tremendous devaluation in the housing market. Responsible persons are the ones who are paying for such selfishness.


November 2nd, 2011
2:46 am

A friend of mine told me about the Refi 123 and by refinancing for a shorter term, you might be able to become debt-free at a younger age than you previously expected, thus setting yourself up for a more secure retirement.


November 2nd, 2011
1:08 pm

Only in America, the Deadbeat Nation, can you receive ‘restitution’ for defaulting on your debts and stiffing your creditors.


November 2nd, 2011
5:59 pm

With a name like La’Kisha, sounds to me like you don’t need to be in America at all. Go back where you came from and get educated about the situation before you make stupid remarks that just shows your ignorance!!


November 2nd, 2011
6:25 pm

With a name like AmyT you my dear appear to sound way more uneducated than La’Kisha. Check yourself first babe.
Poor White Trash is out of control.


November 3rd, 2011
1:27 am

November 2nd, 2011
5:59 pm
With a name like La’Kisha, sounds to me like you don’t need to be in America at all. Go back where you came from…”

How ’bout my name, Marse AmyT, can I be in America? You ignorant white trash racist cracker, you’re probably miserable and make everyone around you miserable.


November 3rd, 2011
11:17 am

WHy CAn’t we all get along

Legal home owner

November 4th, 2011
11:25 am

This issue is not racist and it has NOTHING to do with being a deadbeat when in fact this whole endeavor ended up costing me thousands.
I received via mail a review request and have already filled it out – while doing so – it brought back the memories of what occurred and how wrong it was. Here is my story:
I started a loan modification primarily because I wanted to roll my ARM over to a fixed rate mortgage.
The monthly mortgage payments seemed to always go up and eventually it was hard making the monthly payments.
I contacted my mortgage holder regarding this – they explained that I would have to go into delinquency to be able to achieve this. I agreed. I missed a mortgage payment and the first modification was requested and approved.
However, I made the payments early via purchase orders and by mailing them in.
I was declined the modification because I did not make the payments on the due date. As per mortgage holder’s customer service ‘ early payments were not allowable’. It would have been nice if they had explained this to me previously.
Any way – I applied again and was approved.
I made the payments this time via telephone (so the payment was made on the explicit due date as requested) – however on the last payment the mortgage holder’s customer service representative wrote down a wrong number for my bank account. When they attempted to make the withdrawal it did not take (due to the wrong account number). This was then listed as a “NSF payment” and caused the loan modification to be declined.
I needed to go back thru the loan modification again.
Please note; during this time frame I had received posted on my house on two separate occasions – foreclosure notices stating that my house would be up for auction with inflated amounts and I noticed that my payments were not being reflected in these amounts.
I applied for a modification again and was approved.
This time I was able to setup electronic transfers and the payments were made on the scheduled due date as my mortgage holder requested them.
All payments went thru correctly and after three months it was time for the mitigation to begin again.
The modification agreement papers did not show up to my home and after a month of searching it was determined that they had been delivered via UPS to a neighbor’s house.
My mortgage holder resent the papers and I signed them and returned them.
During the signing of the papers I noticed that my work cell phone number had been added. I contacted my mortgage holder customer service and asked if this could be removed and explained that the cell phone did not belong to me – it belonged to my employer and if I received personal calls on it I could be terminated from my employment. The customer service representative explained that I could cross it out and initialize it and return the forms.
Which I did.
My modification was denied because of my crossing this off.
I reapplied and was approved – this time it was expedited I immediately received the modification papers – signed them and made no other corrections on the forms and was finally approved.
I have notes with date/times of most of my calls and with my mortgage holder employees that I spoke with including most of their employee id numbers (some would not give me there employee id numbers when I asked for them) – if verification is needed.
I also have notes regarding the missing mitigation papers and the UPS employee name and ID number.
I can pull my bank records showing most of the payments made – I say ‘most’ because I may not be able to pull the records for the purchase orders – but all of the electronically transferred amounts have been recorded.
I was able to keep my home – but it ended up costing thousands xtra.


November 5th, 2011
7:58 am

It’s not about defaulting on your debts or stiffing your creditors, its about FRAUD and if we don’t take the time to educate ourselves on how the banks are using us to make their lives better then we’re going to be lost forever.


November 7th, 2011
12:55 am

When Alan Greenspan and Larry Summers lobied for complex derivatives in the late ’90’s (insurance instrument employed to protect investors of exotic mortgages), no one invisioned a $300+trillion dollar market. Brooksley Born (first female president of the law review, Stanford University) was the only person with the balls to stand up to them and warn of the upcoming global financial meltdown caused by these derivatives. It was a criminal act to wrap up and package these mortgages with perfectly good mortgages, then rate them as grade “A” investments. Insurance companies like AIG and many other instutions (Bank of America, Wells Fargo, Countrywide, etc.)flooded the worlds markets with this “trash”. Fast forward to October 2008………….

Hank Paulson, 74th U.S. Treasury Secretary forced 9 of the nations largest (boa, wells fargo, etc.) financial institutions to take tarp funds in the now famous October 13, 2008 meeting in Washington, DC. This was the beginning of the bank bailouts. While banks got more than enough help…………….home owners got shafted. Even as the Fifty States Attorneys General were meeting with the banks earlier this year to negioate a “get out of jail card” for the banks, I for one had no faith in the fairness of this mission or a positive outcome for homeowners.

Now, low and behold, there is something called the “independentforeclosurereview.com”. I suspect this may have come out of the above meeting with AG’s / banks. Know that this is part of the current administrations effort to retain the white house. No question that more has to be done for homeowners drowning under water in this toxic mortgage mess. The American people are not going to take this laying down.

Until the guilty wall street vampires and leaches go to jail, America will not be satisfied. The occupy movement is just starting and blood will soon soak Americas streets unless drastic actions are taken.

Rebecca C.Armstrong

November 8th, 2011
12:19 pm


Rebecca C.Armstrong

November 8th, 2011
12:24 pm

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