Monday, June 11, 2012

More/Updated Information on the Foreclosure Review and the State Foreclosure Settlement

Last March we did an article on the state foreclosure settlement between leading home lenders and the attorneys general of 49 states (Oklahoma reached a separate settlement).  More information comes from ProPublica, the investigative journalism site--their FAQ on both the state settlements and the independent foreclosure review. 

In my previous posting, I didn't make the distinction between the two avenues for relief clear, but ProPublica clears this up.  One (the state attorney-general's settlement), requires you to apply for relief.  For the independent foreclosure reviews by federal banking regulators, they will send notices to homeowners who are eligible BUT, if you qualify, you can request a review online or call 1-888-952-9105 (Monday through Friday, 8 a.m. to 10 p.m. or Saturday, 8 a.m. to 5 p.m. Eastern time) to ask for a paper copy to fill out. 

You can keep up on the foreclosure disaster/scandals as they unfold by keeping up with ProPublica on Facebook for new news and statistical information.

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