Feds to Review up to 4 Million Home Foreclosures
Washington, DC – November 2, 2011 – (RealEstateRama) — Congressman Dennis Kucinich (D-OH), a longtime advocate for homeowners in Ohio, today released the following statement upon the news that the Office of the Comptroller of the Currency will move forward with a plan to review up to 4 million potentially improper home foreclosures.
“The big banks received unbelievable financial support, but American homeowners got the cold shoulder. In a rush to protect their bottom lines, many banks improperly foreclosed on homeowners who should have been eligible for assistance. This common-sense review will ensure that American’s rights are protected,” said Kucinich.
According to federal regulators, homeowners that were part of a foreclosure action involving their primary residence between January 1, 2009, and December 31, 2010, are eligible for an independent review of their case, provided their loan was serviced by one of the (24) participating servicers.
Federal regulators state that eligible persons will be sent a letter by the end of 2011 with an application for review, which must be submitted by April 30, 2012, in order to be considered. Questions or applications can be obtained by calling 888-952-9105, by going to http://www.independentforeclosurereview.com, or by calling Congressman Kucinich’s Lakewood District Office at 216-228-8850.
“With this step, and the recent eligibility expansion of the underutilized Home Affordable Refinancing Program (HARP), more Americans who are struggling to keep ends meet can remain in their homes,” said Kucinich.
Nathan White (202)225-5871