Consumers are warned to be careful!
At the end of March, Rust Consulting, the private contractor hired by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board to oversee applications and payments for the Independent Foreclosure Review began mailing postcards to 4.2 million homeowners. These postcards officially notify these consumers that they will be receiving IFR settlement payments. The payments themselves will be mailed in the next four to eight weeks.
For more information about IFR, view some of our previous blog posts, here and here.
DON’T BECOME A VICTIM OF A SCAM.
Scam artists are ALWAYS looking to prey on consumers. If you receive a postcard, make sure that the information is coming from Rust Consulting, that the phone number on the card is 1-888-952-9105, and that the website to visit is one of the following:
- The Office of the Comptroller of the Currency (OCC: http://www.occ.gov/independentforeclosurereview),
- The Federal Reserve Board (http://www.federalreserve.gov/consumerinfo/independent-foreclosure-review-payment-agreement.htm), or
- The Independent Foreclosure Review (http://independentforeclosurereview.com/).
Any other solicitation may be a scam!
DO NOT PAY TO GET HELP:
- No one has to pay a fee to receive payment through the IFR.
- No one can ‘help you get more money’ as the amount of the payment has been decided by federal regulators. The amount cannot be negotiated.
- The opportunity to request an independent foreclosure review is OVER. If you were not on the regulators and the servicers lists – the deadline to apply was December 31, 2012 – paying someone will NOT get you added to the list.
For additional information, visit the Frequently Asked Questions page on the independent foreclosure review website, here.
NOTE:
The most recent postcards ONLY cover settlements with 27 major servicers. (Click here for a complete list). There are still 3 major servicers that have not settled:
- Ally (GMAC Mortgage),
- Everbank, and
- OneWest Bank (IndyMac).
If you have questions regarding the Independent Foreclosure Review or any mailing you receive about IFR, please contact a Homeownership Advisor in your area.
If you, or someone you know is struggling with mortgage payments... visit www.hocmn.org or call the Minnesota Homeownership Center at 866-462-6466 today! Waiting limits your options!
ANY PROFESSIONALS IN THIS FIELD KNOW IF THE BANKS ARE "REQUIRED" TO REMOVE THE FORECLOSURE STATUS FROM CREDIT REPORTS IF YOU ARE A PART OF THIS FORECLOSURE SETTLEMENT(which I am)??
ReplyDeleteAre credit reports being repaired over this foreclosure settlement deal?
ReplyDeleteIt is my understanding that credit reports will only be amended in certain situations.
ReplyDeletePlease advise is this will be removed from our CREDIT REPORT????
ReplyDeleteWe were told by Wells Fargo to file bankruptcy - said that was the ONLY way we could get a mod. We did so, and then got the mod, but Wells refuses to report out good payment record because we did not reaffirm (nobody told us or encouraged us to do so and no one explained the consequences.) The second mortgage is in the bankruptcy under a separate account number (with same lender), so we need them to zero that loan out and fix our credit that was caused due to their unwillingness to work with us. When I lost my job, I immediately contacted them because I worked for a nonprofit that was not required to pay in to unemployment, therefore we had to use $$$ saved for real estate taxes for living expenses. A wells employee told me later after the damage was done that they could have excrowed our taxes over 60 months, which would have allowed us to continue paying per our perfect payment record. But instead they paid TWO YEARS TAXES and increased our payment from 635 to 1274, which made it impossible to pay. They would not accept partial payments.
ReplyDelete