Journalism in the Public Interest

Our FAQ on The National Foreclosure Settlement and Independent Foreclosure Review

Regulators have provided a bare-bones website and frequently asked questions about the foreclosure reviews. But we thought things could be even clearer for readers, so we are providing this FAQ.

(Kevork Djansezian/Getty Images)

Update: On Jan. 7, 2013, banking regulators announced the Independent Foreclosure Review would end for 10 banks and be replaced by a $3.3 billion settlement. See our report for the initial rundown. We will update this FAQ when the settlement is finalized and the details are available.

Update: This post was revised Oct. 1, 2012, to include information about the mailing of claim forms to homeowners eligible for the National Mortgage Settlement.

The government is overseeing two large, interrelated efforts to compensate homeowners who were harmed during the foreclosure crisis: the National Foreclosure Settlement and the Independent Foreclosure Review. Below is our FAQ to explain who is eligible for these programs and how people can apply. If you have other questions, let us know, and we will consider adding them to this FAQ.

Also, to help us continue monitoring these programs, homeowners going through them can fill out our foreclosure questionnaire and email us to tell us what's happening.

The National Foreclosure Settlement

In February 2012, officials from 49 states and the federal government announced they'd struck a $25 billion deal with five of the country's biggest banks. The settlement resolved allegations that the banks deceived homeowners and broke laws when pursuing foreclosure.

About $1.5 billion of that $25 billion actually constitutes cash that's going straight to victims of the banks' practices. The process is underway.

Q. Who is eligible for this compensation?

1. You were foreclosed on between Jan. 1, 2008 and Dec. 31, 2011. Unlike the Independent Foreclosure Review (see below), the settlement limits compensation to those who actually lost their home to foreclosure.

2. The home was or was intended to be your primary residence when you got the mortgage loan.

3. Your mortgage servicer — the company you sent payments to — was one of a select number of companies. The government has not yet posted an official list, but five banks are participating in the settlement. The following companies are servicing subsidiaries of those banks, so you are likely to fulfill this criterion if your servicer is one of these companies:

  • America's Servicing Co.
  • BAC Home Loans Servicing (a subsidiary of Bank of America)
  • Bank of America
  • Chase
  • Citibank
  • CitiMortgage
  • Countrywide
  • EMC Mortgage
  • GMAC Mortgage
  • Home Loan Services (a subsidiary of Bank of America)
  • Washington Mutual (WaMu)
  • Wells Fargo Bank
  • Wilshire Credit (a subsidiary of Bank of America)

4. Your house was in Washington, D.C., or any of the U.S. states except Oklahoma. (If you're an Oklahoman, see this.)

5. You lost your home due to a financial hardship and/or you were improperly foreclosed on.

Q. What kind of financial hardship? What does "improperly foreclosed on" mean?

This website, set up to allow homeowners to file claims online, lists several examples of financial hardships.

The site also lists two main categories of improper foreclosure: "loan modification problems" and "foreclosure errors." Both categories contain several examples.

Q. Do I have to prove I had a financial hardship or I was improperly foreclosed on?

No, you will just have to check a box.

Q. How much compensation might I receive?

It depends on how many people claim their compensation. Everyone will receive the same amount regardless of the nature or severity of the servicing abuse. At the least, homeowners will receive $840, but it will almost certainly be more than that. Officials overseeing the settlement have estimated that eligible borrowers will receive about $2,000 each, which is based on the assumption that 750,000 borrowers will claim compensation. If more borrowers respond, it could be less than $2,000, and if fewer borrowers respond, it could be more.

Q. Who's in charge of this process?

The state and federal officials overseeing the process have appointed a company to be the "Settlement Administrator": Rust Consulting. You can call Rust with questions at 1-866-430-8358.

Q. How do I apply?

There's no application process. Rust Consulting will identify the eligible borrowers and send notices out to them.

Q. What do I do then if I think I'm eligible?

You can contact Rust Consulting at 1-866-430-8358 if you think you should have received a notice and claim form, but did not.

Q. When will this process get underway? When should I expect to look for something in the mail? When will I get my payment?

Notice letters and claim forms are being sent to eligible borrowers from late September through early October 2012.

A spokesman for the Iowa attorney general’s office, which led the settlement negotiations, said checks should go out to borrowers by the middle of 2013.

Q. What should I look for in the mail?

The letters will include a "National Mortgage Settlement Claim Form" and will also have the letterhead and/or logo of your state attorney general.

Here is an example of the letter and form being sent to homeowners in Florida.

Q. Will I have to waive my right to sue my servicer in exchange for receiving this compensation?

No. But if you sue your servicer, this compensation would offset any money you might receive through the lawsuit. For example, if you won $10,000 through a lawsuit, but were given $2,000 in compensation through the National Foreclosure Settlement, you would receive only $8,000 from the suit.

The Independent Foreclosure Review

Update: On Jan. 7, 2013, banking regulators announced the Independent Foreclosure Review would end for 10 banks and be replaced by a $3.3 billion settlement. See our report for the initial rundown. We will update this FAQ when the settlement is finalized and the details are available.

In November 2011, federal banking regulators launched the "Independent Foreclosure Review." Certain current or former homeowners who were the victims of abuses or errors by mortgage servicers will be eligible for compensation.

Q. Who is eligible for the reviews?

You have to meet all of the following criteria:

1. The home is/was your primary residence. Vacation homes or investment properties will not be eligible.

2. You were in the foreclosure process at any time between Jan. 1, 2009, and Dec. 31, 2010. The review is NOT limited to people who actually lost their homes to foreclosure in that time period. All that matters is that you were in foreclosure at any point during that time frame. You might have eventually avoided foreclosure by getting a modification; you might still be in foreclosure; you might have sold your home. The final outcome doesn't matter. All that matters is that you were in the foreclosure process at some point in 2009 or 2010.

3. Your mortgage servicer — the company you sent payments to and that handled your request for a modification — in 2009 or 2010 was one of the following companies, listed here in alphabetical order:

  • America's Servicing Co.
  • Aurora Loan Services
  • BAC Home Loans Servicing (a subsidiary of Bank of America)
  • Bank of America
  • Beneficial
  • Chase
  • Citibank
  • CitiFinancial
  • CitiMortgage
  • Countrywide
  • EMC Mortgage
  • EverBank/Everhome Mortgage
  • GMAC Mortgage
  • HFC (now HFC Beneficial)
  • Home Loan Services (a subsidiary of Bank of America)
  • HSBC
  • IndyMac Mortgage Services (part of OneWest Bank)
  • Litton Loan Servicing*
  • MetLife Bank
  • National City Mortgage
  • PNC Mortgage
  • Saxon Mortgage Services*
  • Sovereign Bank
  • SunTrust Mortgage
  • U.S. Bank
  • Wachovia Mortgage
  • Washington Mutual (WaMu)
  • Wells Fargo Bank
  • Wilshire Credit (a subsidiary of Bank of America)

*Regulators acted on Litton Loan Servicing and Saxon Mortgage Services later than on the others, so the foreclosure review for Litton and Saxon customers has not yet begun. The Federal Reserve — the regulator for both Goldman Sachs, which owned Litton during the relevant time period, and Morgan Stanley, which owned Saxon — could not tell us when the process would begin for either company. We will update this post when we hear more about this.

Q. Who is conducting these reviews?

Under the supervision of regulators, the servicers have hired consultants to conduct the reviews. While some critics see a conflict of interest in the servicers choosing who will review their conduct, regulators say the consultants will be independent and answer to them, not to the servicers.

On Nov. 22, 2011, the Office of the Comptroller of the Currency (OCC) released a list showing the consultants and which banks they'll be reviewing. They also released each consultant's "engagement letter," which lays out the terms of their agreements. Below is the list of banks and their consultants. We've also uploaded the engagement letters, which you can see by clicking on the consultants' names.

Note: The OCC announced on May 11, 2012 that the consultant handling Aurora's review, Allonhill, had been removed, because it was not sufficiently independent: Allonhill had earlier provided advisory services related to the same pool of loans it was reviewing for abuses and errors, the OCC said. Aurora is in the process of selecting a new consultant, according to OCC spokesman Bryan Hubbard.

Q. How do I submit a complaint so that I'm included in this process?

You have to submit a Request for Review Form postmarked no later than December 31, 2012. (The original deadline of April 30, 2012 was extended to July 31, then through September, and then again.)

You can get a hard copy of the Request for Review Form two different ways. First, you might have received a letter from your servicer with the form included. Those letters were mailed out sometime before the end of 2011. If for some reason you haven't received one, you can also request a form by calling 1-888-952-9105 (Monday through Friday, 8 a.m. to 10 p.m. or Saturday, 8 a.m. to 5 p.m. Eastern time). The form will have a "control number" specific to your individual case.

You can also submit your application through the Independent Foreclosure Review website.

You can see a sample version of this form here so you'll know what it looks like. It was mailed to homeowners with something like this notice. But again, you need to obtain a form that's specific to your request.

Q. What abuses or errors are covered by this review?

There is no comprehensive list, but regulators have indicated some clear areas of focus. If any of the following abuses happened to you, you will probably have a better shot at receiving some form of compensation if you clearly describe them on the Request for Review Form and provide any supporting documentation. (For a longer list, including some less common situations, see this congressional testimony from an OCC official.)


  • Your servicer didn't properly consider you for a modification — that includes not following the guidelines of HAMP, the Home Affordable Modification Program.
  • You were in a trial modification, were making payments, but were foreclosed on anyway without having been denied a permanent modification.
  • You were doing everything a permanent modification agreement required, but the foreclosure sale still happened.
  • You requested assistance/modification, submitted complete documents on time, and were waiting for a decision when the foreclosure sale occurred.

Calculation errors or incorrect charges:

  • You were charged bogus fees and/or penalties.
  • Mortgage payments were inaccurately calculated, processed or applied. It would be especially noteworthy if the foreclosure process began because your servicer incorrectly processed your payments.
  • The mortgage balance amount at the time of the foreclosure action was more than you actually owed.

Legal and documentation issues:

  • Your servicer didn't properly document ownership of the promissory note or mortgage when the foreclosure was initiated.
  • Your servicer didn't follow state or federal laws when it pursued foreclosure. (For example: the servicer might not have sent you the proper notices or not waited the required amount of time before initiating foreclosure or actually foreclosing).
  • You were not actually in default when your servicer initiated foreclosure.


  • The foreclosure action occurred while you were protected by bankruptcy.
  • Your servicer violated the Servicemembers Civil Relief Act. For instance, you were in the military and on active duty when your servicer pursued foreclosure. Under the act, the ban on foreclosure runs for nine months following active duty.
  • You sent a payment sufficient to cure your default, but your servicer didn't accept it.

Q. What sort of compensation might I receive?

You could receive up to $125,000 or nothing at all. It depends on what your servicer did wrong and whether you suffered “financial injury” as a result.

In June of 2012, regulators released a basic “framework” that shows the compensation for a number of common servicer abuses. You can see it here.

Some abuses have been set at a precise dollar figure. In those cases, regardless of the size of the mortgage or the homeowner’s individual circumstances, the compensation is the same. For example, the highest possible amount someone who lost their home to foreclosure could receive is $125,000 (plus whatever equity was in the foreclosed home), but that’s only under four scenarios:

- The servicer broke the law by foreclosing on a member of the military protected by the Servicemembers Civil Relief Act.

- The servicer foreclosed even though the homeowner wasn’t actually behind on payments or was only behind as a direct result of the servicer’s error.

- The servicer foreclosed even though the homeowner hadn’t yet completed the trial modification and was making payments.

- The servicer foreclosed even though the homeowner had successfully completed a trial modification, but hadn’t yet been given a final answer on a permanent modification.

In all those scenarios, the borrower receives the $125,000 if the servicer can’t unwind the foreclosure. If the servicer rescinds the foreclosure and returns the home to the borrower, the cash compensation drops to $15,000. (See here for more info on when the servicer is required to undo the foreclosure.)

All other abuses bring less compensation. For instance, if the servicer foreclosed after denying a modification application that should have been approved, that brings $15,000 ($5,000 if the servicer gives the home back to the borrower). And sometimes, there’s no universal figure – the compensation will be tailored to the homeowner’s precise situation. In some cases, the servicer may just be forced to correct its errors and not provide any cash compensation at all.

Regulators say people will not be compensated for pain and suffering they endured as a result of the servicer’s abuses, such as stress or depression, because the review focuses solely on “financial injury” done to the borrower. Regulators also say that victims won’t be separately refunded for attorney costs incurred fighting the foreclosure.

The framework for compensation lists 13 different scenarios, and regulators have produced a lengthy FAQ about it, so homeowners should take a look at those documents for more information.

Q. What will happen after I submit my complaint?

You should receive an acknowledgment letter within one week. Then you wait. The reviewer may contact you for more information at some point. You will not be interviewed, however. Eventually, you will receive a letter that lays out what compensation you are being offered and "the findings of the review." Regulators said they haven't decided precisely what form these letters will take and in what detail they will discuss your complaint.

Q. Will submitting my complaint automatically stop my foreclosure?

No. However, the OCC says that homeowners who submit a request for review "will receive expedited attention" if the servicer is about to sell their home through foreclosure. Essentially, the reviewer will investigate to see whether the servicer committed any abuses or errors. If so, the foreclosure sale "may be postponed or halted." That is far from a guarantee.

Q. How long will the review take?

Regulators won't say. We will update this FAQ when they give some indication.

Q. Will I have to waive my right to sue my servicer in exchange for receiving this compensation?


Q. Can I appeal if I disagree with the findings of the review?


Related Story: Flaws Jeopardize New Attempt to Help Homeowners and Guiding You Through the Govt’s Foreclosure Compensation Maze.

Correction, June 7: This post has been updated to reflect the fact that homeowners can submit their application for the Independent Foreclosure Review online. It's also been updated to clarify that homeowners eligible for the review will only be receiving a reminder through the mail this summer, not another copy of the request for review form.

Why only 2009? My 2/28 adjustable mortgage went from $2621.50 to $4119.50. This was 2008 and there were no government programs to help, no lenders under the microscope. They did what the wanted. My home was foreclosed on by a lender who was not even licensed in the state at the time they did my mortgage. They sold my home in a little over 10 days at a price I could have afforded to make the payments on, but refused to help me. I had no one to turn to who was interested in helping stop this, and had to turn the keys of my home over to the Realtor in front of my then 6 yr old son. He watched his world disappear and there was no help. The stress from this killed our marriage and he lost his home, his family, his friends, his school, and his neighborhod. That is his childhood memory. We were the first wave and had no help as we were losing our homes. What about us?

David D. Jones Jr.

Nov. 6, 2011, 12:22 a.m.

It’s about time that someone is sticking up for the homeowners, because I was denied a loan modification because I didn’t have enough income. That wasn’t the deal. I lost my income because I had deaths in my family, that’s why I thought that I qualified for a loan modification, instead , I was facing foreclosure.

Why isn’t Fannie Mae and Freddie Mac partaking in the foreclosure review?
We bailed them out, yet they have the audacity to take 12 million in bonuse’s.  Do you have any idea how many foreclosures Fannie Mae and Freddie Mac Robo-signed.  Why don’t you take a poll , you will find out they have outsourced their loans to mortgage servicers.  These mortgage servicer’s lose your paperwork, outsource their customer service to India- taking jobs away from american’s .  Any way you look at it Fannie Mae & Freddie Mac along with all the banks that took TARP monies think they’re god.  They’re not accountable because the government is too soft on them.  The Government should seize Fannie & Freddie Mac’s bonuse’s- And they can collect their bonuse’s when every loan modifcation has been reviewed, renewed, or rejected. The government needs to be assertive, and do something for the middle class which has been hit the hardest throughout this entire mortgage failure, bank failure living abortion.

Thank you for the article -  My comment however, is that it most certainly represents what the homeowners who have been so victimized will get and how this permeates into a pass pass situation for the banks.

I will, somehow, find the time, to print what I believe are clear abuses and wrong doing on the servicing level to the best of my knowledge because I have worked with these cases and what they intend to do now for the homeowenr is a clear indication that “they are not working in the best interest of the homeowner” but are only buying additional time for the banksters to try to figure out how they are going to avoid the real issues -  the fraud (not procedural errors on the part of servicers who allowed robo signing), but the financial restitution that is paid to homeowners who have truly lost that which is not just considered to be a monetary price.  You cannot put a price on what has happened to the homeowenrs, but I can assure you, the homeowners had best do just that.  To accept something less is a terrible injustice to the American people and shows clearly to me that the feds are taking their lead from those who have appear to have the most power at this time - the banks.

If I just had a few more hours in the day, I would like to make a contribution of possible abuses, all of which collectively the homeowners could put together themselves - as they have walked down that path millions of times and for that, they get nothing but another ploy.

I am sick over this latest maneuver -  it simply cannot hold and most surely, it cannot be limited to 2009 -2010 - who in the hell made that a provision of the ploy now on the table.  I have been workign since 2005 helping to defend homeowners - what gives the feds the right to do this.  I guess it became necessary when they got caught looking at the movies while they were supposed to be on the job of oversight protecting the people from unscrupulous bankers and wall street.

Yes, I am mad.  Been up since 4:00 this morning trying to help someone else save their home and they needed the info to get to court this morning.  And you say there is no price on the stress that these homeowenrs are facing and have been facing.  If Ron Paul wants to do away with some of the federal agencies, he needs to start with the OCC, OTS and the rest of that bunch.

Hold the banks accountable for their fraudulent actions?  Madness, I tell you!

If this is kept up, banks will be forced to abide by the law, and then it’s just a small jump from there to complete economic collapse.  That’s what the TV news seems to imply, at any rate…

I lost my home to Chase after my brother died from cancer in 2006. I was present for the phone call my brother had with his lender as he wanted his mortgage insured so that should anything happen to him the house came to me. My brother got his mortgage from Banc1 which Chase bought.
After my brothers death Chase claimed there was no such ins on my brothers mortgage and they told me point blank. We know you’re broke after dealing with your brothers cancer and we (Chase) will fight you for years in the courts over the house if we have too.
All this took place after the house had been toteled in a lightning storm in 2005. The home ins com used lawyers to skate paying he claim until cancer took my brother. They knew if they could just stall long enough Chase would foreclose and the ins com was off the hook for paying the claim.
There was no help anywhere for what I went through. Our elected officials wrote the laws that allow ins companies to use underhanded tactics to avoid paying claims. This was even in the USA Today after the gulf storms saying the ins companies have an insider term for this “Turf and Surf”. They wrestle you to the turf with BS cliams for things you must do to run you broke or just bleed you of money needed to fight them. Then the ins companies surf you off the field of paying anything.
What has our country come to when big comapnies can just run rough shod over every working guy because they have the money to do it? The sadest fact is the home ins company spent MORE for lawyers than what they could have settled the claim for, and made my brother die without getting the money that could have been used to proling his life.
Case also spent 3 times what the mortgage was to get the totaled house, and knew that poking their nose in would tell the ins company stall long enough and Chase will solve our problem for us.

Anyone who has reading these comments also needs to go to and type in PHH Mortgage.  Even if your mortgage was with someone else if we swell in numbers, we can attract a law firm and have a class action suit against every rotten mortgage company that rob-signed, and did illegal ways of taking your home, down payment, and retirement away from you.  We are sick and tired of this under-handed, no accountabilitly , no regulation,  The American people have had it.  We need to band together get out of their stinking banks and let them choke.  They’ve ruined our credit, no one has money to buy as money homes as they have sitting empty.  We need to pull out of the banks and let them go out of business with NO BAIL_OUT THIS time.  And that will send loud message to the insurance and pharmacutical industries as weill.  These 3 industries have the deepest pockets to pay lobbyists.  Well they’re all showing loss’s because consumerism Is so slow, and unemployment is so high. We can’t afford health insurance anymore, and we can’t afford drugs.  So to hell with them all they wouldn’t have gotten to where they were without us.  They need to work for us and work with us. We need adaptable regulation to work with consumers and the government needs to do the same exact thing.

People—-HAMP is a lie—-please wake up—-the “debt collectors” have taken over—-they are taking your money and foreclosing illegally because—-in subprime especially—-they were never real “loans”—-only receivables were securitized—-there was no “funding”—-all smoke and mirrors—-a “line of credit”—-like a credit card—-sold over and over—-Wall Street bet on this crap—-then came insurance fraud and bail outs—-read this: (Also Google TILA Amendment with regards to REAL CREDITOR MUST BE DISCLOSED—-no more hiding behind so-called “Privacy Laws”—-lets get these bastards!!!)

“…People on here must understand what a “Qualified Financial Contract vs a Non Qualified Financial Contract” is. If and when you understand this you will see that (in most cases), trusts only had Non QFC’s in the trust.
Google it…
Non QFC’s are (just not as QFC’s vs Non QFC’s) are ONLY receivables of collection rights…start attacking the meaning of QFC’s vs NON QFC’s. …check out DBNTC vs FDIC …judge talks about the QFC matter. Case number is #09-3852 in the California
Federal District Court Central District Western Division.
People you need to read this case, and if you have a so called an Indymac Loan you really need to read this case. DBNTC admitts that all 246 trust under the Indymac was striped of all assets. They even went to probate so the judge would not make DBNTC liable for anymore claims. If anyone knows trust law you know that you can only go to probate when a trust is dead. DBNTC even put in a claim with the FDIC and was DENIED and was stated they are NOT a SECURED CREDITOR just a GENERAL CREDITOR (unsecured) and there will be no money for general creditors.
Onewest is not servicing the former Indymac papers for DBNTC, but instead for Indymac Ventures LLC. If you google and pull this name, its on the FDIC’s own website it says THEY WILL NEVER BE GIVEN THE ORIGINAL NOTE, AND IF THEY TRY TO JOIN AND FORMER PARTIES IT WILL BE VOID.
So when banks lawyers (debt collectors), say: ‘Here is the original note!’—they are committing open fraud and there is proof. They was only given a collateral file with the debtors information as any debt collector receives, when they buy debt.
FDIC gave Onewest the collection rights without taking on any liabilities. As many has seen in there court cases Onewest says we brought the assets of Indymac without any liabilities. Then how could they try to use the PSA’s in court cases? They cant—they are not a party to the document.
Indymac was 2 people in the trust transaction:
1. Sellers (QFC)
2. Servicer (Non QFC)
Indymac sold their collection rights aka Non QFC’s to the Trust Series. (You must understand a series has one main name and feeds the rest—that’s why it called series.) Then Indymac promised that at of the time of selling that everything was in good order, and if it wasn’t they would buy it back. (QFC) Once the trust took it, Indymac’s job as seller was done.
Indymac then took on its other job: 2. Servicer of the trust. (Non QFC)
When Indymac went under, the FDIC took Indymac into receivership. FDIC then made Indymac Federal FSB. This is a big part, because when Onewest Bank says they bought the assets of Indymac Bank, Onewest did not buy the assets of the Failed thrift, but of Indymac Federal FSB the FDIC version of Indymac—which is a BIG difference. Onewest just tries to muddy the waters by not saying which one they really bought!
FDIC as in conservator split the QFC from the Non QFC and gave IMB Hold Co the deposits and the Collection rights of all 246 Indymac trust series without any liabilities. IMB Hold Co then made Indymac Ventures LLC (the only sole member of the LLC is Onewest Bank), who Onewest is servicing for.
FDIC did this without repudiate contracts under 12 U.S.C. 1821(e), r. Even if they did, it would have made the trust series whole, and still DBNTC would not have any claim even in Non QFC form. As FAS 140 explains in detail.
In short, if your loan was securitized its not about your (fake), Mortgage or Note it is about is it a ‘Qualified Financial Contract’ or NOT. Use this and you will not have to worry about ‘where’s the assignment?’ or anything else.
Its now about accounting and security laws. Then you can show why there was not any assignments, because they only had Non QFC rights. Judges won’t like this matter, but there is nothing they can do about it—now you are connecting the dots. All these securitizations are UNSECURED period—and banks know this. The Trust never had any QFC’s only Non QFC’s.”

This whole review just smells like another attempt at making the American public think something is being done for their benefit. The fact that the bank provides the consultants is the first clue. Ya, right they will answer to the regulators after they first consult with the banks, come on, we are not that stupid. And, the looseness of the process should also screem out, beware, they will make up the rules as they go. I am not about to sign up to something that is so vague and put myself in a position of then having no recourse as I am sure there will be fine print or a condition after the fact that says so.
This in no way is holding the banks responsible, they need to go to jail, period!

This review is nothing but a scam to have people sign something so they have no recourse after the fact.  If anyone is planning on signing up for the review, PLEASE GO TO COURTHOUSE AND RECORDERS OFFICE AND MAKE COPIES OF YOUR WHOLE FILE IMMEDIATELY.  Every mortgage co in Denver hired people for a “special project” lasting 4-6 months to “REVIEW” their files, insert any missing documents, record any missing assignments, and make sure every case is complete now.  (READ:  FILE MORE FRAUDULENT DOCS, SO IT LOOKS LIKE WE DID EVERYTHING LEGAL).  EXCEPT, THIS SHOULD HAVE BEEN DONE “BEFORE” EVER STARTING A FORECLOSURE.  THE FEDS ARE GIVING THEM PLENTY OF TIME TO GET FILES UP TO PAR. Don’t let the “REVIEWERS” KNOW YOU HAVE COPIES OF FILES.  WHO WILL BE HELP RESPONSIBLE FOR THIS FRAUD????? That’s right, NO ONE.

I have taken documents of Fraudulent activitys through the Banks Lend America-Wells Fargo,Real Estate Agent and Seller and my Home Loan is a FHA/HUD loan that NEVER had a finished Appraisel or a Home Inspection and Dcuments that stated home was CONTRUCTED on site in 1988,but in Reality Home was MANUFACTURED in 1981.Was Told by Real Estate Agent that was also working for Seller we did NOT need a Home Inspection even though it was a FHA/HUD funded loan.I have contacted Pa Enforcement & Investagations and The Federal Bureau Of Investagations and was told ,” Sorry can’t Help You “. So to beleive for one minute they are gonna actually do something for Homeowners that were Fraudulently Deceived by any of these Deptments is nothing more then Blowing Smoke in your Face to blind you of their true intentions.Their Cover Ups,Corruption and Personal Gains is all they are providing against these people that they say the are Helping.

There would not be nearly the foreclosure problem as there is if more attention was paid to what is actually the pre cursor to foreclosures that being the shabby way modifications have and are being handled. Folks who did all they were required to do; made many many trial payments and then were told after months and numerous conversations with bank employees and not once being told they were being turned down for a mod that they are facing foreclosure. HAMP Guidelines are not adhered to with absolutely no penalty, complaints to the OCC take months and years to be responded to by the banks and when they do respond it is with a letter from a customer advocate stating they did everything right and the homeowner did everything wrong; thanks for being a valued customer and the OCC closes the file without any investigation whatsoever. Where is the Referee???

Margret Brady

Nov. 21, 2011, 5:37 p.m.

We were never informed that our mortgage company was our servicer. Even when another bank foreclosed as Trustee for a CDO, the servicer bank denied that they had anything to do with our mortgage and told us to ignore the notices. After we hired an attorney and asked the court to determine who owned our mortgage, the bank rep informed us that the 3 HAMP applications and two years of attempts to resolve our problems and working with the servicer"s 80 different reps should never have occurred because the CDO did not permit changes in terms. In May 2010 the servicer and the bank withdrew claims and we have not any communication from either of them. Except that we were not in the service or bankrupt, everything mentioned on the list happened to us.

If anyone is looking for help or thinks or government cares on wit for us then you are deluded! OUR government gave the banks in bail outs and secret Federal Reserve sweetheart loans enough money to have paid off all 6.5 million homes that the banks have foreclosed on. I read this on Yahoo of all places.
Still OUR government allowed these crooked bankers to foreclose on homes they were paid in full for with OUR MONEY! The problem is not just these criminal bankers but also the criminal politicians we have in DC. 
It’s far past time to realize that we have arsonists we hired to be our firemen in DC. They were paid to burn the house down with us inside! When we started to smell smoke the arsonists stood outside saying “We have it all under control!! Don’t worry we are taking care of you!”
The problem is not the Democrats or the Republicans. The problem is the Democrats AND the Republicans! We as Americans need to wake up! When we go to vote, and EVERYONE should vote, we should NEVER vote for ANY Democrat or Republican EVER AGAIN!
Lets face the facts THEY LIE FOR A LIVING!! EVERYONE thats votes for ANY Democrat or Republican voted to get screwed even more!
America was once 50% of the world economy and look at the sad shape America is in right now!
Who was in DC making the laws that allowed all this to happen? The Democrats and Republicans made these bastardized laws. They got paid untold amounts of lobby money to write these bastardized laws and screw us all! They knew the money was dirty, they knew it was wrong, and they did it anyway for the dirty filty money!
The politicians are Flim Flam Men! They lie, cheat, steal, backstab, corkscrew, and dirty deal! They are criminals for God’s sake and belong in those FEMA trailers out in the desert wearing ankle trackers and orange jumpsuits with the name of CONVICT!

Ok, our first clue is that “the BANKS have HIRED CONSULTANTS”. Hahahahaha.  Yeah, ok.  And WE all just fell from a turnip truck. Hire an attorney- and pray that you get a judge who is smart and fair enough to make a LAWFUL decision.  And, why these BANKSTERS have not been charged with TREASON yet, is beyond me- THEY have committed CRIMES against the American People !!!

I just received a notice from my lender that I do not qualify for HAMP or any other modification at this time.  Their BS excuse…I didn’t submit documents they requested in a timely fashion.  That’s a lie!  I always submitted everything and anything they asked for if not within in hours but first thing in the AM the following day.  I have been going through this battle since 2008 even though my own lender lost my payment in 2007.  They said they could help me lower my rate and add principal t it.  I have a 7.35% interest only loan $400K!  Insane, right!  since they took their time in working my file my home fell into foreclosure in August of 2007 just a few months after my baby was born.  And now I’m stuck with nowhere to turn.  Nothing saved anymore, ruined credit and I have NEVER been offered trial payments.  This is absurd, scary, I’m livid!  And unfortunately at the banks mercy… My home is almost $200K upside down.  And they will not lower the principal so that I can keep my townhome with my child!

What about all of us that didn’t go to forclosure but were none the less brutalized by the loan servicers when we applied for a loan modification, short sale, deed-in-lieu, etc.? These organizations have been getting away with murder. They have blatently ignored the spirit and the letter of the plans established by the government to help those of us devistated by these incredibly difficult economic times with impunity. What happened to the concept of justice. I have lost everything including my 401k retirement funds and still Wells Fargo won’t do the right thing. I have a buyer for a short sale (not even that short) and before it is all over WF will cause them to withdraw their offer. These programs were supposedly developed to help people, not banks. But how many have actually recieved help? Please! The writing has been on the wall in big bold letters for years now. I have always played by the rules. I guess no good deed goes unpunished and no evil doings go unrewarded.

Bobbie Warner

Dec. 2, 2011, 2:48 p.m.

I “truly” do not understand how EVERYONE knows the banks
are “raping” the homeowners and yet they are continuing to get away
with blatently destroying lives.  It is unbelievable and criminal.
I have been trying to save my home for 2.5 yrs - and now I realize the
only option is to hire a lawyer - which I should have done 2 yrs ago.
I, of course, don’t trust them either but what choice do I have - hope that the lawyer is not a crook. If I give up - the bank wins - so I am going to the bitter end.



You can blame the bankers all you like. The fact remains that if “OUR” elected officials both Democrat and Republican had not bastardized the laws allowing the robber baron bankers to do this, none of this would have ever happened. Our elected officials knew the lobby money they took to bastardize the laws was dirty, they knew what they were doing was wrong, and they rewrote all the laws for the dirty filthy money.
So every vote for ANY Democrat or Republican is a vote to get screwed even more! America was once 50% of the world economy and look at America now! Broke, the national debt run past the moon, and these criminal politicians can’t even reach an agreement to cut the spending anywhere!! Their “Super Committee” failed, they failed before that with the debt crisis, and said their “Super Committee” would fix it. What did they fix?? Not one damn thing!!!

This article is part of an ongoing investigation:
Foreclosure Crisis

Foreclosure Crisis: Banks and Government Fail Homeowners

Banks and the government have fallen short in helping homeowners in danger of foreclosure.

The Story So Far

Systemic failures at the country’s banks and mortgage servicers have exacerbated the most severe foreclosure crisis since the Great Depression, and government efforts to limit the damage have fallen short. ProPublica created an unrivaled database of homeowners who have faced foreclosure, opened a Facebook page to encourage homeowners to share their stories, wrote profiles of some of them, and incorporated their experiences into our reporting. We also provided a comprehensive rundown of the numbers behind the crisis.

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