Deadline for independent foreclosure review is Dec. 31

Published On: Dec 14 2012 05:10:36 PM CST
SAN ANTONIO -

An important reminder for anyone whose home was foreclosed on in the years 2009 or 2010: the deadline for independent foreclosure review is coming up on Dec. 31.

Last year, federal banking regulators issued orders against 14 large mortgage servicers for making errors in foreclosures.

Those companies must now provide free independent foreclosure reviews to determine whether homeowners suffered financial injuries.

Homeowners can be eligible for compensation of up to $125,000 if errors are found.

Marcia Griffin is president and founder of the nonprofit homeownership organization, Home-Free USA.

"The people will answer questions, you will get an application, it needs to be filled out and submitted by the 31st, and you'll hear something in early January," Griffin said.

Homeowners who still want information to find out if they’re eligible to request a review of their foreclosure process can find the answers at IndependentForeclosureReview.com or call: 1-855-778-0855.

The independent review is free.