Deadline to Request Independent Foreclosure Review Extended

Borrowers seeking a review of their mortgage foreclosures under the Federal banking agencies’ Independent Foreclosure Review now have until July 31, 2012, to submit their requests.

The new deadline provides an additional three months for borrowers to request a review if they believe they suffered financial injury as a result of errors in foreclosure actions on their homes in 2009 or 2010 by one of the servicers covered by enforcement actions issued in April 2011.

Borrowers are eligible for an Independent Foreclosure Review if they meet the following basic criteria:

  • The mortgage loan was serviced by one of the participating mortgage servicers.
  • The mortgage loan was active in the foreclosure process between January 1, 2009, and December 31, 2010.
  • The property securing the mortgage loan was the borrower’s primary residence.

There are no costs associated with being included in the review. For more information, borrowers can call 888-952-9105, M-F, 8a-1p ET or Saturday, 8a-5p ET or visit www.federalreserve.gov/consumerinfo/independent-foreclosure-review.htm or www.occ.gov/independentforeclosurereview

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