Urban League of Rochester is pleased to announce our support of the Independent Foreclosure Review. This is a legitimate program mandated by The Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency (federal bank regulators).
Fourteen major servicers are offering eligible borrowers a free and impartial Independent Foreclosure Review by an independent consultant. The review will help identify those who may have been financially injured due to errors, misrepresentations, or other deficiencies in their foreclosure process. If the review finds that financial injury occurred, the borrower may receive remediation such as lump-sum payments, suspension or rescission of a foreclosure, a loan modification or other loss mitigation assistance, correction of credit reports, or correction of deficiency amounts and records. Lump-sum payments can range from $500 to, in the most egregious cases, $125,000 plus equity, according to guidance issued by the agencies.
Urban League of Rochester can assist you with completing and filing your Request for Review form and respond to any questions or concerns you may have about the process.
Your Request for Review form must be postmarked or submitted to the independent foreclosure review administrator by the deadline, which was recently extended to December 31, 2012.
The review is free and there is no cost for the assistance Urban League of Rochester,
will be able to provide to you.
Detailed information about the Independent Foreclosure Review, including how to apply online is available at www.IndependentForeclosureReview.com or by calling the IFR toll-free number 1.888.952.9105.
The Independent Foreclosure Review is monitored by federal bank regulators, the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System, to ensure a fair and impartial process.
For help completing the form or to have questions answered
Call Urban League of Rochester, N.Y., Inc. today 585-325-6530x 3078
Request for review must be submitted by December 31, 2012
For eligibility requirements and deadline information click below: