YouTube foreclosure help

The Federal Reserve turns to YouTube to get word out about free foreclosure reviews, after only a fraction of homeowners responded to initial offers for help.

Four million notices were mailed last year.  As of April 30th only 164,627 borrowers requested reviews. 

The video is in English and Spanish.

The foreclosure reviews are available to homeowners who were in any stage of foreclosure processing in 2009 and 2010 beginning with the initial notice of default.

The reviews are being conducted by independent consultants, not the banks. The deadline is July 31, 2012.

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