Foreclosures malpractices. Read This !

Great news!

Victims of bad foreclosure practices can now apply for review and possible compensation!!!

Who is eligible?

To meet the initial criteria to qualify, victim's mortgage loan would need to meet the following criteria:
Their mortgage loan was serviced by one of the participating mortgage servicers.
Their mortgage loan was active in the foreclosure process between January 1,2009 and December 31,2010.
The property was their primary residence.

Will you be notified if you are eligible?

The 14 mortgage servicers that are part of this program (see below for list) began mailing out letters to eligible borrowers. However,if a homesellers have moved,or lenders do not have previous homeseller's correct address,the letter may not make it to the victims.

Which lenders/servicers are involved?
America’s Servicing Co.
Aurora Loan Services
Bank of America
Beneficial
Chase
Citibank
CitiFinancial
CitiMortgage
Countrywide
EMC
EverBank/EverHome Mortgage Company
GMAC Mortgage
HFC
HSBC
IndyMac Mortgage Services
MetLife Bank
National City Mortgage
PNC Mortgage
Sovereign Bank
SunTrust Mortgage
U.S. Bank
Wachovia Mortgage
Washington Mutual (WaMu)
Wells Fargo Bank,N.A.

How to apply for a review of your client's file if they feel they are a victim of an improper foreclosure proceeding:

Call 1-888-952-9105,Monday through Friday,8 a.m.–10 p.m. ET or Saturday,8 a.m.–5 p.m. ET. This will put them in touch with a representative of the independent review and they will take their information over the phone (I think), help them fill out a claim form (if victims received one in the mail) or can request for a form.

There has also been a website set up and it is my understanding that victims could file their claim online as well, but at this point they cannot...  there is not a whole lot on the site so I’m thinking they may add the ability to file a claim online soon.

The deadline for filing a claim is before April 30,2012.