Deadline for Foreclosure Review Extended
Sunday, August 12, 2012 • 4:32pm
SCOTCH PLAINS/FANWOOD, NJ – Home Owners in Scotch Plains and Fanwood who were dealing with foreclosure in 2009 and 20010, will be pleased to hear that the Union County Foreclosure Task Force has announced that the deadline to participate in the federal banking agencies’ Independent Foreclosure Review has been extended to December 31, 2012.
“This additional deadline extension is a great opportunity for local residents to find out if their cases can be reviewed,” said Union County Freeholder Chairman Alexander Mirabella.
To be eligible for a review, the mortgage must have been in active foreclosure between January 1, 2009 and December 31, 2010, the property securing the loan must have been the primary residence and the mortgage must have been serviced by one of the 14 lenders outlined in the enforcement actions of April, 2011.
The new deadline provides additional time for borrowers to request review if they believe that they suffered financial injury as a result of errors in foreclosure actions on their homes in 2009 or 2010 by one of the servicers specified by the Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Federal Reserve) in their April, 2011 enforcement actions.
There are no costs associated with the review which is performed by a consultant independent from the mortgage servicer.
More information, including how to apply online, is available at http://www.independentforeclosurereview.com. Information on eligibility is also available Monday through Friday from 8 a.m. to 10 p.m. by calling the federal hotline at 1-888-952-9105.
The Union County Foreclosure Taskforce also has free, reliable information and guidance on foreclosure issues for all residents regardless of their eligibility for the Independent Foreclosure Review.
Visit the Task Force online at www.ucnj.org, or call the hotline at The Home Ownership Preservation Foundation, a Task Force partner, at 888-995-HOPE (4673).