It's late, and it's limited, but for borrowers who feel their homes were wrongly or inappropriately foreclosed upon in 2009 and 2010, there is now recourse.
As part of a larger enforcement action (so-called "consent orders") taken last April against fourteen of the nation's largest mortgage banks/servicers following the so-called "robo-signing" scandal, the Office of the Comptroller of the Currency is beginning a "multi-faceted independent review of foreclosure actions."
The major banks, including Bank of America , Chase , Citibank , Wells Fargo , GMAC, and EMC, will have to fund these independent reviews to evaluate, "whether borrowers suffered financial injury through errors, misrepresentations, or other deficiencies in foreclosure practices." If they did, those borrowers get some kind of "remediation."