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The Federal Reserve Board and the Office of the Comptroller of the Currency have announced an extension of the deadline for eligible borrowers to request a free review of their mortgage foreclosures under the Independent Foreclosure Review to September 30, 2012. The new deadline gives borrowers two additional months to submit a request for review.
The Federal Reserve Board has also created a video that explains how borrowers who believe they were financially harmed during the mortgage foreclosure process in 2009 and 2010 can request a review and potentially receive compensation. There are no costs associated with being included in the review, so consumers should beware of anyone who requests payment for assistance in connection with the independent foreclosure review or any other foreclosure assistance program.
More information about the Independent Foreclosure Review, including instructions for applying online and a full list of servicers, is available at www.independentforeclosurereview.com.