Foreclosure Complaint Hotline now OPEN for Consumers
By Regina P. Brown, M.B.A., Broker, Instructor
(MBA Broker Consultants)
Okay, so the big banks admit they may not have conducted all of their foreclosures correctly... and now homeowners who were victims of unfair foreclosures can call and lodge a complaint at 1-888-952-9105. According to a recent article in the Wall Street Journal by By Alan Zibel and Nick Timiraos: Bank regulators and the mortgage industry have launched a complaint process to reach out to more than 4 million homeowners to find and compensate any who were harmed by deficiencies in banks’ foreclosure operations. Bank regulators in April ordered 14 large mortgage servicing firms to fix problems in their foreclosure-handling processes. The Office of the Comptroller of the Currency and Federal Reserve required these companies to hire independent consultants to fix those problems. The industry ...
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