Guiding you through foreclosure-compensation maze
If you’re a victim of banking abuses during the foreclosure crisis, the government says it will make sure you receive compensation from your bank. It’s a simple idea. But for victims, determining who’s eligible, how to apply, and when you might get a check in the mail isn’t simple at all.
There are two separate government efforts: the National Mortgage Settlement and the Independent Foreclosure Review.
While both share the goal of providing some compensation to homeowners who were harmed by their banks’ abuses or errors, the two have very different approaches.
Are you a struggling homeowner? Check out our Avoiding Foreclosure section for resources and tips.