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Temecula Valley Homeowner Alert !! You May Be Eligible for an Independent Foreclosure Review

Pamela Seley, Temecula Valley California Homes has provided us some very valuable information to share with homeowners in our locality.  Please help me thank Pamela by stopping by her post and leave her a comment.

Temecula Valley Homeowner Alert !! You May Be Eligible for an Independent Foreclosure Review
Independent Review
Do you think you were financially injured by your mortgage lender? Was your loan in active foreclosure between January 1, 2009 and December 2010? If yes, you may receive compensation or other remedy for your lender's "errors, misrepresentations, or other deficiencies made during the foreclosure process."

Some examples of financial injury might include:

  • Mortgage balance claimed you owed at time of foreclosure was more than you actually owed.
  • You did everything your bank requested for a loan modification, or you requested a loan modification and turned in all paperwork on time and while waiting for a decision, bank foreclosed anyway
  • Foreclosure occurred while you were in bankruptcy
  • Mortgage payments were not applied to your loan, or payments and/or fees charged were inaccurate
  • Foreclosure action occurred while on active military duty or within 9 months after active duty ended

What is an Independent Foreclosure Review?

The Board of Governors of the Federal Reserve System and Office of the Comptroller of the Currency (OCC), who regulate banks, have required banks and servicers to conduct an “Independent Foreclosure Review” of their customers who were in active foreclosure between January 1, 2009 and December 31, 2010.

Request forms should be mailed to customers, who are eligible for an Independent Foreclosure Review by the end of this year. The form is to be completed by the homeowner and returned in the postage paid envelope provided, and postmarked by April 30, 2012. The reviews are to be conducted by outside consultants not part of the customers’ bank or lender.

There are only two requirements:

  1. Your mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010
  2. The mortgage was on your primary residence.


If you have lost your home to foreclosure, or if you are in a trial modification, or are waiting a loan modification decision, but believe you may have been financially injured, make sure to file the request and make sure it is postmarked by April 30, 2012.

If you do not receive the Independent Foreclosure Review form, you can contact the OCC to request a form and help at 888-952-9105, or visit the OCC website.

The fourteen banks required by the OCC to comply with the independent review are (in alphabetical order):

Ally's GMAC Mortgage
Aurora Bank
Bank of America
Citibank
EverBank
HSBC
JPMorgan Chase
MetLife
OneWest
PNC
Sovereign Bank
SunTrust
U.S. Bank
Wells Fargo

Pamela Seley, REALTOR®
Short Sale Resource | CA DRE lic # 01824145
www.searchtemeculavalleyhomes.com | Dir 951.491.4063 | 

Serving Southwest Riverside County California| Temecula, Murrieta, Menifee, Winchester, Lake Elsinore, Canyon Lake, Corona, Wildomar | Temecula short sale agent

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What is an Arm's Length Affidavit?

What is a Third-Party Authorization Letter?

What's a Short Sale Package?

Is Your Real Estate Agent Licensed in the State of California? 

Pamela Seley, REALTOR® has helped homeowners in SW Riverside and San Bernardino Counties, California, by negotiating short payoffs with the following lenders and servicers:

Bank of America * Chase * CitiMortgage * EMC Mortgage * GMAC * HSBC * Indymac (now known as, One West Bank) * Midland Mortgage * SLS Specialized Lending Servicing, LLC * Wachovia Mortgage * Wells Fargo * World Savings Bank  

All information deemed reliable, but not guaranteed. Copyright © 2009-2011 by Pamela Seley, REALTOR® | CA DRE Lic # 01824145

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C. Lloyd McKenzie, MBA

Associate Broker

Berkshire Hathaway HomeServices

New Mexico Properties/Allstar, REALTORS

6739 Academy Rd. NE SU 200

Albuquerque, New Mexico 87109

(505)888-1700  Office

Phone: (505)750-8552
Email: Info@LloydMcKenzie.com

Areas Served: Albuquerque Metro/ Algodones/ Bernalillo/ Cedar Crest/ Corrales/ Edgewood/ Los Lunas/ Los Ranchos de Albuquerque/ Placitas/ Rio Rancho/ Sandia Park/ Tijeras

Comment balloon 0 commentsC. Lloyd McKenzie • December 26 2011 11:07PM

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