suing mortgage company what type lawyer

Was your mortgage loan closed by an attorney?

Oct 26, 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]et www.NielsenLawGroup.net Mention this Post for a free consultation.

Can I Sue my Mortgage Company for not reporting?

Jun 13, 2017 · The type of lawyer that you should retain to sue on your set of facts would be a foreclosure lawyer, as they have the most experience dealing with lenders and mortgage servicing companies. You would probably be naming as Defendants both the mortgage servicing company, which is Nationstar, and the owner of the underlying promissory note, which at this …

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.

Can a mortgage company foreclose on a property?

Dec 09, 2013 · Rather than join a large class action lawsuit against your mortgage company, we suggest suing your lender directly. Our mortgage lawyers will walk you through the process, and help you find the best strategies to win your case. Our mortgage litigation strategies depend on your goals. Schedule a Free Consultation With an Attorney. Our firm offers free legal …

What are reasons to sue a mortgage company?

Although they may be within their rights to foreclose, many mortgage companies conduct the foreclosure process incorrectly.Late or erroneous payment processing.Miscommunication or unclear modifications.Insufficient or untimely notifications.Inaccurate interest or tax calculations.Illegal credit practices.More items...

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

What are lender liability claims?

Lender Liability — liability caused by the wrongful acts of a lending institution. Lender liability claims most frequently arise when a debtor challenges the validity of a loan agreement in a counterclaim against a financial institution after the institution has filed a collection action.

Will a lawsuit affect my mortgage application?

If an applicant is currently involved in a lawsuit, this could prevent the lender from approving their borrowing request. As a general rule, a lawsuit can prevent mortgage applications from being approved.Aug 18, 2019

What is respa in mortgage?

The Real Estate Settlement Procedures Act (RESPA) provides consumers with improved disclosures of settlement costs and to reduce the costs of closing by the elimination of referral fees and kickbacks. RESPA was signed into law in December 1974, and became effective on June 20, 1975.

Can I get a different underwriter?

No Changing 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.

Does a mortgage lender have a fiduciary duty?

California courts have held since 1979 that a mortgage broker owes a fiduciary duty to a borrower. But lenders do not. The mortgage transaction between the borrower and lender is at "arms length" much like buying a used car from a car lot salesman.

Does a lender have a fiduciary responsibility?

Banks, mortgage companies, and other commercial lenders generally have a fiduciary duty to their borrowers. Borrowers may be able to take legal action if their lender was not acting in their best interest with regard to the loan—for example, by misleading them or failing to provide information about their loans.

What are the rights of a lender?

The Lender has the right to: declare all amounts owed by the Borrower as exigible and immediately due, to cease the lending, to withdraw the loan, as granted, with any and all deriving consequences and to proceed with the enforcement of securities stipulated in the Agreement, so as to recover the amounts owed by the ...

Will a lawsuit prevent mortgage?

Lenders rarely approve mortgage loans for borrowers that are defendants in lawsuits. Lawsuit defendants also risk significantly more if verdicts go against them. Judgments resulting from lawsuits can result in a lien being placed against a mortgage borrower's property, for one.

Can you get a loan while in a lawsuit?

With a lawsuit loan, a lawsuit funding company buys your right to all or a portion of your lawsuit award or settlement in exchange for an advance you receive while the case is still pending.

Can I refinance if I am party to a lawsuit?

Answer: Unfortunately, in this particular situation, you cannot be approved or pre-approved for a mortgage until the lawsuit is complete.Feb 8, 2019

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 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 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.

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.

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.

Is the real estate process complicated?

Further, the real estate process is often a complicated process involving numerous parties.

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 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 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.

Is RESPA a law?

RESPA is a powerful law. It’s very helpful when you’re facing foreclosure, and especially if the mortgage company has made any mistakes. Usually they do make mistakes, or at least they make things confusing. Maybe you’ve sent Notice Of Error and Request For Information letters which they haven’t responded to.

Can I sue my mortgage company?

One of the questions that may come to mind is, “Can I really sue my mortgage company under RESPA?” The answer is “Yes” — if your mortgage company has violated RESPA then you can sue and that may stop a foreclosure against you.

What is mortgage fraud?

Generally, mortgage fraud occurs when an institution or person misleads or deceives you into entering a misguided loan so that they can make additional profit. The institution or person can be a bank, lender, appraiser, mortgage broker, real estate broker, or other individual.

What is the phone number for a lawyer?

Their phone number is (202) 467-8716 or (844) 529-4357. The referral line is open Monday through Friday, 8:30 am to 5:30 pm. Once you have a referral, call the lawyer and ask to set up a consultation. Also ask how much the consultation will cost.

What is HECM mortgage?

Home equity conversion mortgages (HECM). The Federal Housing Authority provides reverse mortgages to people over 62 who have no loan (or only a small loan) on their property. With the reverse mortgage, you get a lump sum payment in exchange for the mortgage.

What is the job of the Attorney General?

The attorney general is responsible for protecting consumers and being the chief attorney for the people of their state. In California, for example, the attorney general expanded the prosecution of mortgage-related fraud after the debt crisis in 2008. They also established a task force to investigate these frauds.

How to start a trial?

Make an opening statement. A trial begins with opening statements. As the person bringing the lawsuit, you will go first. Your attorney will handle the trial if you have one. If you don’t, then you will need to do everything, including delivering a brief, focused opening statement.

Where to report fraud in real estate?

Report fraud to the bureau of real estate. If you worked with a real estate agent or broker who you feel defrauded you, you can file a complaint with your state's agency that regulated real estate. In California, for example, it is the Bureau of Real Estate within the Department of Consumer Affairs.

What is consequential damages?

Consequential damages are any injuries suffered as a consequence of the fraud.