Mortgage servicing issues are in the news constantly. From homeowners who can’t get a straight answer from their bank, to homeowners who are wrongfully foreclosed on, misconduct by mortgage servicers and banks continues to be a major issue. Misapplied payments, lost payments, lost records of payments, refusal to accept payments and other serious abuses are constantly happening to homeowners.
Mortgage “modification” programs and the HAMP program have created huge opportunities for deceptive mortgage servicers to wrongfully take people’s homes. Some of the most pervasive mortgage servicer misconduct we have seen includes:
*Telling homeowners to “skip a payment” or to pay less than the monthly payment in order to qualify for a modification, only to be told later that they do not qualify and are going to lose their home in foreclosure.
*Requiring homeowners to fill out the same forms multiple times and be led down the “road to nowhere,” often with inconsistent advice and flat out lies by “customer service.”
*”Congratulating” homeowners on a modification only to pull the rug out by denying the modification later on a pretext or sending it along to a new servicer who refuses to honor the modification.
*”Dual tracking” by enrolling homeowners in modification programs, while at the same time pursuing a foreclosure litigation track and rapidly foreclosing upon the homeowner after it claims the homeowner failed to provide a document or was late on a trial payment.
*Foreclosing on the wrong home or on a loan that is not even in default.
If you are contemplating a modification, carefully review the terms of the modification program requirements and make sure you understand what is required of you and the servicer/lender once you successfully complete the program. Be sure you comply with every term of the program. Document everything! Keep copies of everything you receive from the servicer and send to the servicer, and keep a log of all conversations and/or record the calls. Finally, send everything (agreements, required documents and trial payments) with a cover letter documenting what you are enclosing by certified mail return receipt so you can prove what you sent and when they received it.
You can protect yourself from wrongful foreclosure or mortgage loan servicer abuse by taking action now.
Our firm is one of the few in the nation to take mortgage servicers to trial and win, and has recovered millions of dollars on behalf of homeowners against banks and mortgage servicers including WELLS FARGO, NATIONSTAR, OCWEN, BAC HOME LOAN SERVICING, BANK OF AMERICA, COUNTRYWIDE, TAYLOR, BEAN & WHITAKER and many others.
We have worked hard to put a lot of useful information on this website about Montana injury and consumer protection law. If you need an attorney, reach out to us. We are here to help!