No, this is not a scam. Many people in the U.S. unfortunately suffered a foreclosure in the past few years. If you had one in 2009 and 2010, there is a chance that you may be entitled to some relief. As part of a consent order with federal bank regulators, and several government agencies, fourteen mortgage servicers and their affiliates are identifying customers who were part of a foreclosure action on their primary residence during the period of January 1, 2009 to December 31, 2010.
The Independent Foreclosure Review is providing homeowners the opportunity to request an independent review of their foreclosure process. If the review finds that financial injury occurred because of errors or other problems during their home foreclosure process, the customer may receive compensation or other remedy. To be eligible, your loan must meet all of the following criteria: Your loan must first meet the following initial eligibility criteria:
- Your mortgage loan was serviced by one of the participating mortgage servicers listed below.
- Your mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010.
- The property was your primary residence.
The participating servicers are as follows: The list of participating servicers includes:
- Americas Servicing Co.
- Aurora Loan Services
- BAC Home Loans Servicing
- Bank of America
- EverBank/EverHome Mortgage Company
- Financial Freedom
- GMAC Mortgage
- 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.
- Wilshire Credit Corporation
Listed below are examples of situations that may have led to financial injury. This list does not include all situations.
- The mortgage balance amount at the time of the foreclosure action was more than you actually owed.
- You were doing everything the modification agreement required, but the foreclosure sale still happened.
- The foreclosure action occurred while you were protected by bankruptcy.
- You requested assistance/modification, submitted complete documents on time, and were waiting for a decision when the foreclosure sale occurred.
- Fees charged or mortgage payments were inaccurately calculated, processed, or applied.
- The foreclosure action occurred on a mortgage that was obtained before active duty military service began and while on active duty, or within 9 months after the active duty ended and the servicemember did not waive his/her rights under the Servicemembers Civil Relief Act.