Few Respond to Foreclosure Review Offer

WASHINGTON – May 21, 2012 – Months after the first invitations were mailed, only a small percentage of eligible borrowers have accepted a chance to have their foreclosure cases checked for errors and maybe win restitution. By April 30, fewer than 165,000 people had applied to have their foreclosures checked for mistakes – about 4 percent of the 4.1 million who received letters about the free reviews late last year, according to the Office of the Comptroller of the Currency. The reviews were agreed to by 14 major mortgage servicers and federal banking regulators in a settlement last year over alleged foreclosure abuses. So few people have responded that another mailing to almost 4 million households will go out in early June, reminding them of the July 31 deadline to request a review, OCC spokesman Bryan Hubbard says. If errors occurred, restitution could run from several hundred dollars to more than $100,000. The reviews are separate from the $25 billion mortgage-servicing settlement that state and federal officials reached this year. Anyone who requests a review will get one if they meet certain criteria. Mortgages had to be in the foreclosure process in 2009 or 2010, on a primary residence, and serviced by one of the 14 servicers or their affiliates, including Bank of America, JPMorgan Chase, Citibank and Wells Fargo. More information is at independentforeclosurereview.com. Even though letters went to more than 4 million households, consumer advocates say follow-up advertising has been ineffective, leading to the low response rate. Many consumers have also grown wary of foreclosure scams and government foreclosure programs, says Deborah Goldberg of the National Fair Housing Alliance. “The effort is being made” to reach people, says Paul Leonard, the mortgage servicers’ representative at the Financial Services Roundtable, a trade group. “It’s hard to say why people aren’t responding.” With this settlement, foreclosure cases will be reviewed one by one by consultants hired by the servicers but monitored by regulators. With the $25 billion mortgage settlement, borrowers who lost homes to foreclosure will be eligible for payouts from a $1.5 billion fund. That could mean 750,000 borrowers getting about $2,000 each, federal officials have said. For more information on that, go to nationalmortgagesettlement.com.

Looking for HORSE PROPERTY in South Florida? Here are two.

Beautiful Equestrian Estate for Sale in Palm City, Fl

Palm Citys Horse Talk News: April 24, 2012 Sunflower Homes and Equestrian, LLC, Palm City, Florida, is offering this beautiful equestrian estate for sale. See the exterior of this 15 acre property. Photos of the interior are available upon request. This home has an equestrian center with eight stalls, two birthing stalls, shop, drive through trailer area, feed room, laundry, tack, and living quarters for guest or trainer. This is one of a kind property located in Martin County. Contact Sunflower Homes and Equestrian to show. 24 hour notice. Home has over 6700 sq ft, over 3000 sq ft balcony, privately gated, lake and multiply cypress white cross fencing. This property is so large that this is only a small glimpse of the estate. See more videos as they are produced. $2,950,000 h:222px;height:192px;">

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Carol Barron-Cross, Broker, Sunflower Homes and Equestrian, LLC Palm Citys Horse Talk Blogger

Palm City, Florida Ten Acre Equestrian Farm for Sale

Palm City, Florida....Take a look at this nice property. This is a rare find with a price that is well within the market of today. Priced to sale. Any interest contact Sunflower Homes & Equestrian, LLC.

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Ft Pierce Fl Seven Acre Property for Sale

Walk this property. Property is located just off highway 70 near the Ft Pierce Fairground area. Property is in private but upscale area. Beautiful trees and plenty of space for a horse farm or country home. Seven acres. $128,000. Sunflower Homes & Equestrian, LLC, Palm City, Florida 34990 772 283 6582