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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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A New Program Called The Independent Foreclosure Review


A new program was rolled out by banking regulators called the Independent Foreclosure Review. The program was created to assist troubled homeowners' with their mortgage.   Specifically, trying to find a "fair way to compensate homeowners victimized by big banks."

However, it looks like there already are a lot flaws with the new program. The biggest issue is how homeowners are going to be compensated by the banks. It has not been decided if the customer will be given "cash, or non-monetary remedy." The other problem is that the banking regulators have not determined exactly what type of bank errors would warrant a homeowner to qualify for this program.