Foreclosures Under Review

By: Channel 6 News Email
By: Channel 6 News Email

The federal government will send letters informing some homeowners of their rights to ask for a review for mistakes--and possible restitution on foreclosures.

Nearly 4.5 million current and former homeowners who meet certain requirements will get the letters starting next month.

Independent consultants will be looking for mistakes in foreclosures handled by 14 of the nation's largest mortgage companies.

Reviews could take months to complete-and remedies will vary.

The reviews were ordered after a federal investigation last year found multiple issues with mortgage companies practices.

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