Have you been denied for a permanent loan modification? Have your mortgage payments been improperly applied or your loan wrongfully placed in foreclosure? There are federal statutes that may be able to protect you.
A recent report from the Consumer Financial Protection Bureau focused on the risks to consumers in their dealings with their mortgage company. Mortgage companies- or servicers- are the entities that are responsible for the processing of your mortgage payments, as opposed to those entities that own the loan. In the report, the CFPB found that common problems still exist even after the financial crisis and recession in 2008, including improper processing of payments, improper servicing transfers, and numerous problems with various aspects of loss mitigation. Because of this illegal conduct, our attorneys have handled numerous cases falling within each one of these categories.
If you applied for a modification and received a trial plan only to get a denial for a permanent loan modification, your mortgage payments are not being applied properly, you are paying force placed insurance, your loan was erroneously placed in foreclosure, or you have a new mortgage company that is not honoring an agreement with your prior mortgage company, we may be able to help you. There are various federal consumer protection statutes that can help you gain leverage over your mortgage company to get the outcome you need and keep a roof of over your head.