Over 4 million homeowners affected by the foreclosure crisis are eligible for an independent review of their cases, through a federal program that could compensate them for their ordeal. But a large percentage of eligible homeowners have not requested a review and the deadline to do so is fast approaching.
The Independent Foreclosure Review (IFR) allows eligible current and former homeowners to have their foreclosure files reviewed by independent consultants. Homeowners who were financially harmed by abuses or errors of their mortgage servicers may be found eligible for compensation.
According to state Banking Commissioner Howard F. Pitkin, many Connecticut homeowners have received letters from the independent firms approved by the federal regulators.