what type of attorney do i need for mortgage company problems

If you are facing foreclosure or are unsure that you can make your monthly mortgage payments, you should hire a skilled and knowledgeable attorney for mortgage problems. A local mortgage lawyer would be best suited for representing you in your mortgage issues, due to the fact that they will have greater awareness of how your state’s specific laws regarding mortgages will influence your legal options.

Full Answer

Do I need an attorney to get a mortgage?

 · The only thing that is fixed on your mortgage is the principal and interest. You have an escrow account which pays your taxes and insurance. The amount of your taxes and insurance can change from year to year and there is nothing improper about that. If errors have been made that's a different matter. You need a consumer advocacy attorney.

What does a mortgage litigation attorney do?

 · Our mortgage foreclosure attorney will sue your lender by preparing a summary of facts showing the judge the homeowners’ story and by drafting the legal arguments showing how the lender violated the law. Common Mortgage Fraud violations and Illegal Practices. Dual tracking – moving forward with foreclosure while simultaneously offering to ...

Why should I hire a local mortgage lawyer?

 · 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.

What does a mortgage foreclosure attorney do?

 · Therefore you may want to hire a lawyer if you are willing to pay one, but you definitely would want to hire an attorney who has prior experience in defending consumers against mortgage lenders and/or has sued lenders before. 0 found this answer helpful | 1 lawyer agrees Helpful Unhelpful 1 comment Jonathan Holfinger View Profile 3 reviews

How do you fight a mortgage lender?

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.

Can you sue a loan servicer?

You can also sue. According to HUD, "A borrower may bring a private law suit, or a group of borrowers may bring a class action suit, within three years, against a servicer who fails to comply with Section 6's provisions." You can also file a complaint with the government agency that regulates the servicing agent.

Can you sue a 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.

What happens when a lender makes a mistake?

If your notice of error letter claims that the servicer incorrectly started, scheduled, or completed foreclosure, they must respond before the sale or within 30 days. If you are unsure if your servicer made an error, you can send them a request of information letter to see their records of your payments.

What is the most commonly reported complaint related to mortgage lending?

Poor communication1. Poor communication. Poor communication, or a lack of responsiveness, is the most common complaint in the mortgage lending process.

What can I do if I hate my mortgage company?

If you're unhappy with your servicer, you'll need to refinance to a new loan, using a lender that does not work with that servicer. However, the new loan could be sold to your current servicer eventually, so it's not worth refinancing just to change who manages your loan.

Can you speak to your underwriter?

Underwriters Cannot Directly Ask You Anything It is important to note that underwriters should not be in actual contact with you. All questions and discussions should be handled through your lender or loan officer. An underwriter talking to you directly, or even knowing you personally, is a conflict of interest.

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.

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.

Do banks make mistakes on mortgages?

Mortgage servicers sometimes make serious errors when handling a homeowner's loan account. Fortunately, a federal law, the Real Estate Settlement Procedures Act (RESPA), provides a way for you to make the servicer correct the error if you believe it made a mistake when managing your mortgage payments.

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 a notice of error mortgage?

(a) Notice of error. A qualified written request that asserts an error relating to the servicing of a mortgage loan is a notice of error for purposes of this section, and a servicer must comply with all requirements applicable to a notice of error with respect to such qualified written request.

Do escrow companies make mistakes?

Who Is Responsible For an Escrow Mistake? Lenders make mistakes in calculating tax and insurance escrows, usually innocent but sometime deliberate, to make a deal look better than it is. That is fraud, but there is no way to prove it. Moral: Borrowers should always check escrow calculations.

Can you fight escrow shortage?

While there's really no way to completely avoid an escrow shortage, as you can't predict what the property taxes in your area will be, you can try to lower your escrow payments by diminishing your property taxes or homeowner's insurance.

What to do if you are a victim of mortgage fraud?

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:

How to determine if a mortgage lender has committed fraud?

Evaluate your loan history and payments to determine if the lender has committed fraud by miscalculating the mortgage payments.

What happens if you fall behind on your mortgage payments?

You fell behind on mortgage payments and your lender is giving you misleading information about your options to save your home. You have applied for a loan modification and your lender is sending you foreclosure notices at the same time. Your lender lied to you about stopping foreclosure while you were being reviewed for a modification.

What is predatory mortgage?

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. Many more predatory lending examples exist and our mortgage attorney is your best resource for identifying a predatory loan.

What is foreclosure fraud?

We often find that foreclosure fraud occurs when lenders violate the law by creating unconscionable loan terms. Mortgage litigation empowers the homeowner to take the lender to court. The homeowner can no longer be ignored or strung along until the lender decides to foreclose.

Who is the best person to represent you in a mortgage case?

A local mortgage lawyer would be best suited for representing you in your mortgage issues, due to the fact that they will have greater awareness of how your state’s specific laws regarding mortgages will influence your legal options.

What is mortgage litigation?

“Mortgage litigation” is a term used to describe a lawsuit involving disputes over mortgage repayment.

What happens when a borrower fails to pay their mortgage?

Once a borrower fails to repay their mortgage, the lender has the right to begin the foreclosure process. This refers to the process in which a lender takes possession of a home because the borrower has defaulted on their mortgage payments.

Why do lenders not want to foreclose on properties?

Lenders do not necessarily want to foreclose on properties because most foreclosures result in the lender losing money, or just breaking even. What this means is that lenders will not receive the interest that they would have received had the borrower continued to make their payments.

What is loan modification?

Loan Modification: Loan modification may occur if the lender is willing to modify the terms of the loan in order to be paid something, rather than be paid nothing; Forbearance: Forbearance can temporarily stall the foreclosure process and gives the borrower more time to eventually pay the amount owed; and.

What is the purpose of a mortgage?

A bank or other lender will provide the money to purchase the home or property, and a mortgage is then placed on the property. The purpose of this is that if the borrower defaults on their loan, the lender will have the right to take possession of that property. A mortgage transaction is composed of two important documents: the promissory note, ...

What is a mortgage?

A mortgage is a type of security interest that attaches to a piece property that is paid with borrowed money. This security interest acts as a type of collateral for the repayment of a loan that a person borrowed from a bank or other financial institution, in order to pay for the property. An example of this would be when a person wants ...

3 attorney answers

You need a civil litigation attorney with real estate experience. You can use Avvo to find a lawyer in your area who can help you.

Loren M. Dickstein

Obviously, but Cliff Notes version of the facts is insufficient upon which to give you a firm answer.

John F. Brennan

You need a civil litigation attorney licensed in your jurisdiction, preferably with some experience in these types of litigations. Good luck. Evan A. Nielsen...

3 attorney answers

Please find a real estate lawyer and bring all your paperwork. The Middletown area has some decent practitioners. It may be helpful to call a lawyer in general practice. . .this is not an uncommon problem. Try the AVVO Find a Lawyer Tab. Good luck.

Sheldon Philip Starke

You need to talk to an attorney who knows RESPA, the Real Estate Settlement Procedures Act. As of January 2014, there are new regulations that are designed to prevent you from getting the runaround about loss mitigation and having to reapply multiple times.

Gregory Adam Wetzel

The CFPB was created in theory to protect the consumer and they want your complaint about your lender. Ensure you have filed your complaints with specificity here: http://www.consumerfinance.gov/complaint/ Keep in mind, they will gather those and potentially investigate the lender, but they aren't going to solve every situation.

What are the legal issues with a mortgage lender?

As noted above, numerous legal issues can arise when dealing with a mortgage lender, most commonly due to a breach of the loan agreement. A loan agreement is similar to any other contract; this means all breach of contract reme dies are available, should a party breach the contract. Common examples of legal issues that may arise when dealing ...

What are some examples of legal issues that arise when dealing with a mortgage lender?

Common examples of legal issues that may arise when dealing with a mortgage lender include, but are not limited to the following: 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 .

What does a real estate agent do?

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 the purchase of a home, it is not difficult to see why legal disputes often arise.

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 does a mortgagor do with a loan?

In exchange for the borrowed money, the mortgagor pledges the purchased home as security for the loan, often in the form of a real estate lien against the home . The mortgagor then makes payments to the lender in order to satisfy the terms of the loan that was made and pay off the lien. Once all of the obligations of the loan are fulfilled, the title to the home then transfers to the borrower.

What is foreclosure in mortgage?

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; Mortgage Fraud: Mortgage fraud occurs when false or incorrect information is provided on a loan application.

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.

Why do you need an attorney to get your home back after foreclosure?

Because it's very difficult to get your home back after a completed foreclosure, you want to deal with violations of loss mitigation laws before the sale . Having an attorney on your side gives you a better chance of getting results before your home is sold.

How to get a mortgage modification?

Hiring an attorney may be a good idea if you want a mortgage modification, but you don't understand the application process or have a complicated situation. For example, it might be worthwhile to hire an attorney if you've spoken to your loan servicer about a modification but are confused about: 1 how to fill out the application 2 what documentation you need to submit along with an application, or 3 how to explain your financial hardship or situation in the application.

What happens if a servicer violates state law?

If your servicer violates state law while foreclosing on your home, your attorney might be able to use the violation or violations as leverage in getting you a loan modification. Keep in mind that servicers often make mistakes when servicing loans and in the foreclosure process. A lawyer could uncover errors that you won't even notice.

How long can a servicer start foreclosure?

For example, under federal law, the servicer generally can't start a foreclosure until you're more than 120 days delinquent on the loan. This period before foreclosure starts is supposed to provide you with sufficient opportunity to seek an alternative to foreclosure, like a modification. So long as you send in a complete application, the servicer also can't start the foreclosure while your application is pending. If your servicer starts the foreclosure early in violation of the law, an attorney can help stop it.

How long can a servicer be delinquent on a loan?

For example, under federal law, the servicer generally can't start a foreclosure until you're more than 120 days delinquent on the loan.

What to do if you have difficulty with foreclosure?

Ultimately, if you find yourself having difficulty with the application or your servicer isn't abiding by the law, you should consider consulting with a qualified, reputable foreclosure attorney who can help you with the process.

What to do if you aren't sure what to do?

If you aren't sure what to do—say you're facing foreclosure, but you aren't sure if a modification is right for you—and want to know about all of your options, an attorney can help you understand your legal rights and give advice about the best course of action in your situation.

Why do you need an attorney for a home purchase?

Here are a few reasons you might need or want an attorney to be part of your home buying team: State or lender requirement: Every state has slightly different laws regarding real estate transactions, and some states consider certain actions that are part of the process to be “practicing law.”. These regulations are often meant to prevent real ...

How to find a real estate lawyer?

Utilize your state’s Bar association directory: Your state Bar association’s website can help you locate lawyers in your area who practice real estate law. Use the American Bar Association’s directory to help you find your state’s website.

How much does a real estate attorney charge per hour?

Fixed hourly rate: A real estate attorney who charges an hourly rate may charge $150 – $350 per hour, but this can vary a lot depending on how experienced the attorney is and what area you’re in.

What is a real estate attorney?

A real estate attorney is someone who is licensed to practice real estate law, meaning they have the knowledge and experience to advise parties involved in a real estate transaction, such as a home sale.

How to find out about an attorney?

Use an online legal review site: There are many online review websites that will give you information on attorneys in your area, including their specialties, fee structures and any reviews left by former clients.

Do you have to have an attorney at closing?

If your mortgage lender requires an attorney to be present at closing, whether the buyer or seller covers the cost of the closing attorney will depend on how your contract was negotiated. If you want your own attorney in addition to the one required by your lender, you’ll also pay for any services they provide you.

What to ask if someone recently purchased a home?

Ask for recommendations from friends and family: If someone in your social circle recently purchased or sold a home and had an attorney, you might consider asking them who they used and what their experience was like.

What to do if you have a complaint against a mortgage company?

If you have a complaint against a mortgage company, try to resolve it with the company first. Several government agencies accept complaints about mortgage lenders. In some cases, you should file your complaint with more than one agency, especially at the federal and state level.

What is a complaint about mortgage company services?

The CFPB enforces several laws, such as the Truth in Lending Act and the Real Estate Settlement Procedures Act. These laws require lenders to disclose information to homebuyers before buying and over the life of the mortgage.

What do you need to provide for a bank transaction?

Provide copies of receipts, checks, or other proof of the transaction.