The Independent Foreclosure Review has been poorly publicized, and many consumers don't realize it's an option. The review is conducted by an independent agency and gives homeowners the opportunity to request a review of how their lender conducted the foreclosure of their primary residence.The Office of the Comptroller of the Currency (OCC) recently extended the deadline for submissions until July 31, 2012.
To be eligible for the Review, interested parties must meet these three criteria:
- Their mortgage loan was serviced by one of the participating mortgage servicers.
- Their mortgage loan was active in the foreclosure process between January 1, 2009, and December 31, 2010.
- The property was the borrower's primary residence.
More on the Independent foreclosure review here
Q&A: What you need to know about real estate now - CBS News
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