The 4 million people who lost their homes to foreclosure in 2009 and 2010 may be given the opportunity to have their files reviewed, according to MSNBC.com.
The Office of the Comptroller of the Currency said Monday that mortgage services will begin sending out letters this month that ask borrowers if they want their case reviewed.
The nation’s 14 largest mortgage servicers — including Citibank, Bank of America, JPMorgan Chase and Wells Fargo — were ordered to offer to review cases after the government found that some rushed the foreclosure process without carefully reviewing documents.
The orders require the lenders pay homeowners when a “borrower suffered financial injury.” There is no minimum or maximum dollar amount identified.
If my home had been foreclosed and I had the chance to have the case reviewed, I would be all over it! This must be pretty scary for the banks!


