On November 1, 2011, John Walsh, the acting U.S. Comptroller of the Currency, announced a new federal program that will allow Georgia homeowners foreclosed in 2009 and 2010 to request an independent foreclosure review and get restitution if they were financially harmed by errors or misrepresentations by 14 of the nation’s largest loan servicers (including such lenders like Wells Fargo, SunTrust Banks, Bank of America and JPMorgan Chase & Co.). Information can be found at www.IndependentForeclosureReview.com.
At this early date, it’s unclear what level of restitution will be awarded in situations where wrongdoing is found. Nonetheless, for those who qualify, this is something to think about. Please don’t hesitate to call us with any questions about this program and to set up a free initial consultation.