Horizons Consumer Credit Counseling helps homeowners request independent foreclosure reviews

Horizons, A Family Service Alliance, reminds Cedar Rapids' homeowners that if they believe they suffered financial injury as a result of errors in foreclosure actions on their homes in 2009 or 2010 that they can request an Independent Foreclosure Review. The deadline for applying for an Independent Foreclosure Review, conducted under the auspices of the Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Federal Reserve), is July 31, 2012.

Borrowers are eligible for an Independent Foreclosure Review if they meet the following basic criteria:

o The mortgage loan was serviced by one of the participating mortgage servicers.

o The mortgage loan was active in the foreclosure process between January 1, 2009 and December 31, 2010.

o The property securing the mortgage loan was the borrower's primary residence.

There are no costs associated with being included in the review; the review is a free program. Homeowners should beware of anyone who wants payment to assist in connection with the independent foreclosure review or any other foreclosure assistance program. Information about the review process, including how to request an independent review, was mailed to potentially eligible borrowers in November and December 2011.

Select mortgage lenders are offering eligible borrowers a free and impartial Independent Foreclosure Review by an independent consultant to identify those who may have been financially injured due to errors, misrepresentations or other deficiencies in their foreclosure process. If the review finds that financial injury occurred, the customer may receive compensation or other remedy.

Horizons Consumer Credit Counseling Services may be contacted for information on eligibility, to assist with completing and filing a Request for Review form, and respond to any questions or concerns about the process. Individuals with questions about the Independent Foreclosure Review process are encouraged to contact Horizons Consumer Credit Counseling at 319-398-3576.