Do you think your bank was wrong to begin foreclosure on your home?
Nearly 4.5 million homeowners are eligible. You could receive monetary compensation if your foreclosure proceeding is found to contain improper documentation or other flaws in the banks’ foreclosure processes. The only way to find out is to apply.
Deadline is December 31 to receive possible monetary compensation. Call CASL today at 312-791-0418 to speak with a Chinese-language housing counselor who can guide you through the process, establish your eligibility, and help to fill out the application form.
What is the Independent Foreclosure Review (IFR)?
Twenty-seven mortgage servicers and lenders are being monitored by the government under the IFR because of fraudulent or error-prone practices that resulted in unnecessary foreclosure proceedings.
These servicers and lenders must identify homeowners who might have been victims. The process to do so is the IFR, which is being administered by the Federal Reserve Board and three independent bureaus under the U.S. Department of Treasury.
The deadline to apply is December 31, 2012.
Why should I apply for the IFR?
You could receive monetary compensation if your foreclosure proceeding is found to contain improper documentation or other flaws in the banks’ foreclosure processes. The only way to find out if you qualify for monetary compensation is to apply.
How do I apply for the IFR?
Call CASL at 312-791-0418 and meet with one of our Cantonese or Mandarin-speaking housing counselors for details and information.
What if I miss the December 31 deadline to apply for the IFR?
There will be no further opportunities after December 31, 2012, to take advantage of the IFR.
How do I know if I’m eligible for the IFR?
Should I have lost my home to foreclosure to be eligible for the IFR?
What is “independent” about the IFR?
Financial consultants, with no interference from the banks, are reviewing foreclosure files.
Is this program connected to the $25 billion bank settlement?
No. The IFR funds for monetary compensation are separate.
Will I hurt my chances for a loan modification or other foreclosure mediation program if I apply for the IFR?
No. In fact, by talking to a housing counselor when applying for the IFR, you might learn of additional programs that can help your situation.
Which servicers are subject to the government’s IFR?