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.
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!