Foreclosure review door closing
BY RICHARD MIZE NewsOK.com
Friday, December 28, 2012
12/28/12 at 5:42 AM
Home mortgage borrowers who were in foreclosure in 2009 or 2010 have three days left to ask for a free review that could lead to compensation if everything wasn't on the up and up.
"Fast action is required," said Roland Chupik, executive director of Neighborhood Housing Services Oklahoma City Inc., a nonprofit that provides foreclosure counseling among other housing services. "Consumers only have until Dec. 31 to request a free review and be considered for possible compensation if errors are found."
Reviews were ordered by federal bank regulators - the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System - in April 2011 to find borrowers who suffered financial harm from foreclosure errors by certain loan servicing companies.
Where injury is found, regulators direct mortgage servicers to provide compensation or other remedy, oversee reviews and approve plans for compensation.
Original Print Headline: Foreclosure review door set to close
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