Casey Alerts Pennsylvanians Who May Have Wrongfully Lost Their Homes that They Could Qualify for Financial Compensation

Nearly 100,000 PA Residents May be Eligible for Independent Foreclosure Review - Successful Review Could Result in Compensation for Residents Impacted by Wrongful Foreclosure Practices

Only4.6 Percent of Eligible Commonwealth Residents Have Taken Advantage of Program As Times Runs Out; County by County Data Reveals Local Impact of Foreclosures in PA

WASHINGTON, DC – Today, U.S Senator Bob Casey (D-PA) alerted Pennsylvanians who may have wrongfully lost their homes that they could qualify for financial compensation via the Independent Foreclosure Review process. The program is set to expire in September 30, 2012.

There are potentially 100,000 Pennsylvanians who could be eligible for review, which could result in compensation up to $125,000 if they lost their homes due to unscrupulous foreclosure practices by banks.

With the program set to expire on September 30th, only 4.6 percent of eligible Pennsylvanians have taken advantage of the Independent Foreclosure Review process.

“With nearly 100,000 Pennsylvanians eligible it’s important that those who were impacted take advantage of the review process,” Casey said. “If a bank or lender used unscrupulous practices to wrongly foreclose on someone’s home then they should be held accountable. There is a process in place to hold bad lenders responsible, but we need more Pennsylvanians to take advantage of it.”

Difficulties in the housing market caused a wave of foreclosures across the country, but investigations have since revealed that many Americans saw their homes improperly foreclosed upon. The spate of foreclosures had an impact across Pennsylvania:

One research company, Corelogic, tracked foreclosure data by county and found that in December 2010 alone a large number of Pennsylvania homeowners faced foreclosure

County December 2010 Foreclosures
Adams 326
Allegheny 2,904
Armstrong 105
Beaver 388
Bedford 68
Berks 1,204
Blair 194
Bradford 41
Bucks 1,935
Butler 413
Cambria 177
Cameron 7
Carbon 374
Centre 146
Chester 1,259
Clarion 40
Clearfield 110
Clinton 44
Columbia 74
Crawford 154
Cumberland 428
Dauphin 643
Delaware 2,158
Elk 38
Erie 395
Fayette 224
Forest 13
Franklin 379
Fulton 32
Greene 23
Huntingdon 44
Indiana 114
Jefferson 38
Juniata 25
Lackawanna 606
Lancaster 1,031
Lawrence 244
Lebanon 222
Lehigh 1,450
Luzerne 1,017
Lycoming 187
McKean 29
Mercer 217
Mifflin 57
Monroe 2,725
Montgomery 2,030
Montour 21
Northampton 1,295
Northumberland 102
Perry 112
Philadelphia 5,993
Pike 797
Potter 16
Schuylkill 282
Snyder 34
Somerset 110
Sullivan 4
Susquehanna 69
Tioga 22
Union 41
Venango 36
Warren 52
Washington 525
Wayne 365
Westmoreland 862
Wyoming 38
York 1,579
Statewide 36,687
   
Source: Corelogic

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