what type of lawyer to hire when for mortgage lender

Therefore, it is strongly recommended that you hire a local mortgage lawyer to assist you in navigating deals with lenders for a valid mortgage loan. A lawyer who has experience in handling mortgage loan issues can advise you of the relevant laws in your area and can explain your rights and obligations under a mortgage loan contract.

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What can our mortgage attorney do for You?

7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2022-03-21_13-03-58. A "loan modification" is a permanent restructuring of your mortgage loan where the lender changes one or more of the terms so that your payments are more affordable. With a modification, the lender might agree to do one or more of the following to reduce your monthly ...

Should I hire a lawyer to get my mortgage modified?

Aug 13, 2014 · 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: Accounting errors; Delays in the modification process; Causing modification disqualification or reduction in equity

Why hire Consumer Action Law Group as your mortgage lawyer?

An experienced mortgage attorney can help you review loan documents, assist you in contract negotiations, as well as represent and file a legal claim on your behalf against the mortgage lender, should any disputes arise. Travis Peeler LegalMatch Legal Writer Original Author Jose Rivera Managing Editor Editor Last Updated: Sep 10, 2019

Can a mortgage fraud attorney help you save your home?

Therefore, it is strongly recommended that you hire a local mortgage lawyer to assist you in navigating deals with lenders for a valid mortgage loan. A lawyer who has experience in handling mortgage loan issues can advise you of the relevant laws in your area and can explain your rights and obligations under a mortgage loan contract.

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 do I need to know before talking to a mortgage lender?

Five Things You Need Before You Talk to a Mortgage LenderState Identification and Social Security number. ... Verification of income. ... Verification of employment. ... Copies of asset statements. ... Strong credit score.

What do you say when talking to a mortgage lender?

While the bulk of your conversation will be about the interest rate and payment plan, be sure to ask your lender about what other charges they will incur. Ask directly: "In addition to my interest rate and monthly payment, what other fees am I responsible for?" Ask them to break down these fees and their purpose.

What should you not tell a mortgage lender?

1) Anything Untruthful Lying to a mortgage lender can ruin your chances at approval. On top of that, providing misleading info on a loan application is a felony. Welcome to mortgage fraud! You can try to hide certain info, but lenders are required to perform verifications of key financial documents.Oct 19, 2017

What should I not tell a loan officer?

Here are some crazy things would-be home buyers have said to lenders, and why they're cause for concern.'I need to get an extra insurance quote due to … ... 'I can't believe how much work the house needs before we move in' ... 'Please don't tell my spouse what's on my credit report'More items...•Dec 5, 2016

What are good questions to ask a lender?

Knowing the right questions to ask will help you choose the right lender.What Types Of Home Loans Do You Offer? ... Which Type Of Mortgage Is Best For Me? ... What Will My Interest And Annual Percentage Rate Be? ... What Is The Loan Estimate? ... Do You Handle Underwriting In-House? ... What Is Your Average Loan Processing Time?More items...•Jun 26, 2019

How often should I contact my loan officer?

It's probably not realistic to ask for your loan officer to touch base with you every single day, several times per day while you are trying to close on a house. In general, I think every 2 – 3 days is very reasonable for touching base if you haven't heard anything specific and you are under contract with a home.Mar 6, 2019

What is the difference between a mortgage lender and a mortgage broker?

A lender is a financial institution that makes loans directly to you. A broker does not lend money. A broker finds a lender. A broker may work with many lenders.Sep 4, 2020

Understanding Mortgage Modifications

Before you can figure out if you should hire an attorney to help you with a mortgage modification, you must first understand the basics about modif...

When You Should Consider Hiring An Attorney to Help With Your Mortgage Modification

Below are some situations where you should consider hiring, or at least consulting with, an attorney.

When You Might Not Need An Attorney to Help With A Mortgage Modification

The following are a few situations where you probably don’t need to hire an attorney to assist with the modification process.

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.

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 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 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 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 predatory lending?

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.

What is mortgage lender?

In a home sale, a mortgage lender provides the financial resources for the borrower in a mortgage loan arrangement. The lender is typically a bank or a mortgage company, and often offers a variety of different loan products depending on the needs of the borrower. Mortgage lenders are subject to various laws that are designed to protect ...

Do mortgage lenders have to do a loan repayment plan?

In most cases, mortgage lenders will present a mortgage loan repayment plan for the borrower. The repayment plan will be finalized into a contract, which may or may not be subject to adjustment in the future. In some cases, a mortgage lender may actually not be necessary for the sale, for instance where the seller is also the financer at ...

Can a mortgage lender discriminate against a buyer?

For instance, they aren’t allowed to discriminate against buyers based on their race , gender, etc., and they can’t engage in fraud when negotiating loan terms.

Can a mortgage dispute lead to a lawsuit?

A mortgage loan dispute may lead to a lawsuit resulting in a damages award to the plaintiff. On the other hand, failure to payback a mortgage according to the terms of a valid loan can lead to other types of lawsuits. These may involve issues such as a mortgage lien dispute or a judicial sale of the home.

Can you dispute a mortgage loan?

However, it may be possible to dispute a loan agreement for certain reasons, including: In such cases, it is usually necessary to enlist the services of a legal professional for help with the revision of the contract. A mortgage loan dispute may lead to a lawsuit resulting in a damages award to the plaintiff.

Why do you need an attorney for a mortgage refinance?

Homeowners may consider refinancing a mortgage loan for a variety of reasons – from obtaining lower interest rates to adjusting the duration of the loan. As with many legal and financial transactions, refinancing a mortgage can be a daunting task. While not required, it’s important ...

What is predatory lending?

Predatory lending refers to lenders who target people with dishonest tactics like charging hidden fees and providing misleading information about loan terms. These schemes may appear to be favorable and affordable, but they are deceptive and can trap the borrower in a cycle of debt.

What can an attorney do for a refinance?

An attorney can help you examine lender offers to determine whether or not the costs, fees, and terms are legitimate. 2. Protect Your Interests. When refinancing your mortgage, it’s imperative to have someone looking out for you and your best interests.

Is refinancing a mortgage a legal process?

Refinancing your mortgage involves many different parts and it can be a complicated legal transaction . An attorney can help you simplify the process and ensure it runs smoothly. In addition, they can provide peace of mind by reviewing your documents and guiding you on what steps to take next.

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.

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...

What is mortgage modification?

A mortgage modification amends the original terms of your home loan agreement to create a payment you can afford. These changes are permanent and remain in effect for the duration of the mortgage. After a careful examination of your income, mortgage payment and other debts, your lender may lower the interest rate on your mortgage.

How long does it take to get a mortgage modification?

Getting approved for a mortgage modification can take up to 90 days, according to Realty Times.

What happens after you sign a mortgage form?

After you sign a form authorizing an attorney to represent you, your attorney contacts the mortgage lender on your behalf and handles all negotiations. Modifications can move slowly when a lawyer isn't involved. Having a lawyer by your side can move your lender to action.