Your best bet is to find a real estate lawyer in your area who has experience with lender/broker liability cases. Such lawyers are paid by the hour and will often require payment of a large retainer upfront, which they bill against. Any such case will likely cost you tens of thousands of dollars to litigate.
Full Answer
Was your mortgage loan closed by an attorney?
Nov 04, 2013 · Share Your Story with a Mortgage Lawyer. We offer free legal consultations for anyone who may need a mortgage lawyer to sue mortgage company. We diligently get a full timeline of events, collect and review all documents related to the case, and give free advice on how our clients should proceed. Call us today to speak with a mortgage litigation ...
Can I Sue my Mortgage Company for not reporting?
Oct 25, 2012 · You need a civil litigation attorney licensed in your jurisdiction, preferably with some experience in these types of litigations. Good luck. Evan A. Nielsen 1255 W. Colton Ave., #506 | Redlands, CA 92374 Main: 909.363.4658 | Fax: 480.304.3211 [email protected] www.NielsenLawGroup.net Mention this Post for a free consultation.
How hard is it to sue an attorney?
Oct 09, 2013 · Ideally, an attorney experienced in real estate law and litigation. The most important thing is to find an aggressive trial attorney with a lot of litigation experience who isn't afraid to go to trial if the case won't settle. Ask about …
Can a mortgage company foreclose on a property?
When you hire Consumer Action Law Group as your mortgage lawyer to sue your lender, we tailor your litigation case to (10) … If you are struggling to save your home from foreclosure and you are wondering if you should sue your lender for foreclosure fraud, the best thing to do is to (11) …
What are reasons to sue a mortgage company?
As mentioned above, if your mortgage lender commits negligence, you may sue your mortgage lender. Examples of this can include where they negligently fail to include terms in the loan agreement that were agreed to by both parties, or if they breach their fiduciary duties.Sep 10, 2019
How do I dispute my mortgage debt?
If you have a problem with your mortgage, you can submit a complaint online or by calling (855) 411-CFPB (2372). If you're facing imminent foreclosure or have been served with legal papers, you may also need to consult an attorney.Sep 9, 2020
Can you sue an underwriter?
Liabilities that mortgage underwriters can face will often include legal issues, such as fraud, unfair business practices, misrepresentation, false advertising, and other similar claims. Depending on who authorized the harmful action, an individual underwriter, the lending company, or both can be held liable.Jan 21, 2022
How do I file a complaint against a mortgage company in Florida?
To submit a complaint, consumers can: Go online at www.consumerfinance.gov/complaint/ Call the toll-free phone number at 1-855-411-CFPB (2372) or TTY/TDD phone number at 1-855-729-CFPB (2372) Fax the CFPB at 1-855-237-2392.Apr 26, 2016
How do I write a complaint letter to a mortgage company?
Submitting a letter:
- Include your name, home address, and mortgage account number.
- Identify the error. Tell your servicer exactly what error you believe occurred. ...
- Do not write your letter on your payment coupon or other payment form you get from your servicer.
- Send the letter to the proper address.
What is respa in mortgage?
Real Estate Settlement Procedures Act. RESPA seeks to reduce unnecessarily high settlement costs by requiring disclosures to homebuyers and sellers, and by prohibiting abusive practices in the real estate settlement process.
Can underwriter change their decision?
Yes, the Underwriter Can Reject Your Loan
He or she can make a negative decision regarding your file, and that decision can cause your loan to be rejected. First-time home buyers / borrowers often ask if they can be turned down for a loan, after they've been pre-approved by the lender.Apr 27, 2014
He or she can make a negative decision regarding your file, and that decision can cause your loan to be rejected. First-time home buyers / borrowers often ask if they can be turned down for a loan, after they've been pre-approved by the lender.Apr 27, 2014
What is a respa notice?
The federal Real Estate Settlement Procedures Act (RESPA) ensures that consumers in real estate transactions receive timely information about the costs of the settlement process. This law also imposes certain requirements on loan servicers.
Can you request a different underwriter?
You also can't request a new underwriter. The only way to switch to a different underwriter is to cancel your loan application and either apply again to the same lender -- hoping to land with a new underwriter -- or to seek a mortgage loan with a different lender.
What is the most commonly reported complaint related to mortgage lending?
Poor communication
1. Poor communication. Poor communication, or a lack of responsiveness, is the most common complaint in the mortgage lending process.
Who regulates mortgage companies in Florida?
The OFR
The OFR has three Divisions and one Bureau that oversee and regulate financial enterprises and individuals, such as mortgage loan originators, securities industry participants, consumer finance companies, money transmitters, foreign currency exchangers and payday lenders.
What government agency oversees mortgage companies?
The Federal Trade Commission (FTC) regulates unfair and deceptive practices affecting consumers. Mortgage companies that make deceptive statements, omit important facts, or take misleading actions — such as charging fees for services that are not provided — would fall under the FTC's oversight authority.Sep 11, 2018
Can you sue a mortgage lender for negligence?
As mentioned above, if your mortgage lender commits negligence, you may sue your mortgage lender. Examples of this can include where they negligently fail to include terms in the loan agreement that were agreed to by both parties, or if they breach their fiduciary duties.
Can a mortgage lender be charged with fraud?
Additionally, mortgage lenders may also be charged with mortgage fraud, such as forging a mortgage contract. If a mortgage lender commits mortgage fraud, the mortgage borrower may use the mortgage loan fraud as a legal defense to foreclosure;
What are the remedies for breach of contract?
Additionally, breach of contract remedies may include remedies in equity, such as: 1 Cancelling the mortgage contract; 2 Rewriting the mortgage contract to better reflect the parties agreement; or 3 Ordering specific performance under the contract.
What are some examples of legal issues?
Common examples of legal issues that may arise when dealing with a mortgage lender include, but are not limited to the following: 1 Foreclosure: The most common legal issue that arises between a mortgagor and mortgagee is when the mortgagor is behind on making payments on the mortgage, which leads to foreclosure. In short, foreclosure is the process where the lender takes the borrower’s property and sells the property at a public auction in order to satisfy the borrower’s debts; 2 Mortgage Fraud: Mortgage fraud occurs when false or incorrect information is provided on a loan application. Basically, if you lie on your mortgage loan application, you may be charged with the crime of mortgage fraud. Additionally, mortgage lenders may also be charged with mortgage fraud, such as forging a mortgage contract. If a mortgage lender commits mortgage fraud, the mortgage borrower may use the mortgage loan fraud as a legal defense to foreclosure; 3 Predatory Lending: Mortgage lenders sometimes target susceptible buyers, such as first-time borrowers or elderly borrowers, and offer them loans at abusively high interest rates or unreasonable loan terms; or 4 Discrimination: Mortgage lenders are prohibited form discriminating against borrowers based on their race, gender, religion, national origin, or other federally protected characteristics under the Fair Housing Act and Equal Credit Opportunity Act. Both federal acts serve to protect a borrower from being discriminated against while seeking out mortgages or loans.
What is a mortgage lender?
A mortgage lender, also known as a “mortgagee,” is a person, group of persons, or a company, that provides money to a borrower, also known as a “mortgagor,” to purchase a home. Typically, mortgage lenders are financial institutions, such as a bank or mortgage company. However, there are some individual mortgage lenders.
What is the role of a mortgage broker?
The broker’s role is to assist the borrower by researching multiple loan options from many lenders and helping them find the best loan for them.
What is the role of a real estate broker?
The broker’s role is to assist the borrower by researching multiple loan options from many lenders and helping them find the best loan for them. Finally, a real estate agent will also be involved in helping the borrower find a property to purchase, as well as work with the mortgage lender and broker. As can be seen, with so many parties involved in ...
Has this happened to you?
You fell behind on mortgage payments and your lender is giving you misleading information about your options to save your home
What Our Mortgage Lawyer Can Do for You
When you hire Consumer Action Law Group as your mortgage lawyer to sue your lender, we tailor your litigation case to your situation. Our mortgage fraud lawyer will identify bad acts by the lender such as:
How to Identify Predatory Lending
Predatory mortgage lending occurs during the origination of the loan. Predatory lending examples are loans with high-interest rates, negative amortization loan structures where the principal balance remains high despite payments made towards it, and loans given to the elderly or foreign speakers who do not understand the terms of the loan.
Mortgage Attorneys That Sue Mortgage Lenders
If you believe that you are a victim of mortgage fraud, you should immediately call our office and speak with our experienced mortgage fraud lawyer to determine your best options to fight foreclosure. During the consultation, our mortgage fraud attorneys will review the following:
Is a mortgage a contract?
Essentially, a mortgage transaction involves a contract, and as such certain contract laws apply. Additionally, claims for the torts of fraud and negligence are common in these cases. In the event the borrower utilizes the services of a mortgage broker, claims against the lender can be difficult.
What is the Truth in Lending Act?
A well publicized example is 15 U.S.C. § 1601 et seq. better known as Truth in Lending Act ("TILA "). TILA was passed in 1968.
Does California have a recovery fund?
Additionally, the California Department of Real Estate has setup a recovery fund that will provide a source for relief if a Plaintiff successfully proves a claim of fraud against a licensee. Regardless of the claim, the most important time in a lawsuit is before it is filed.
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