RESPA VIOLATIONS: WHEN MORTGAGE COMPANIES BREAK THE LAW
When a mortgage company breaks the law, it can hit too close to home. Literally. These illegal actions (that you may not even realize are illegal) threaten your home and finances, as well as your family’s security, safety and way of life.
It’s no wonder that many of the people who call us report that they’re frustrated, confused, scared and furious with their mortgage company!
At the Chicago Consumer Law Center, P.C., we represent people throughout the Chicagoland area who are facing problems when trying to get a loan modification with their mortgage companies. Some of them tried, or are trying, to get a loan modification. Others have entered loan modifications, but all are having problems with their mortgage companies. We can protect their rights under a law called the Real Estate Settlement Procedures Act (RESPA).
WHAT IS THE REAL ESTATE SETTLEMENT PROCEDURES ACT (RESPA) AND HOW CAN WE USE IT TO HELP YOU?
Mortgage companies can break the law in various ways. Here’s what RESPA violations can look like.
Mortgage companies often claim that they “lost the paperwork” or “the documents are incomplete.” Or they constantly delay the process by continuously asking for more documents. Does this sound all too familiar? When your mortgage company is giving you the runaround, it’s time to call us for our free Mortgage Modification Review.
Mortgage lenders also violate RESPA by appearing to work with homeowners to prevent foreclosure, but not actually doing it. The homeowner agrees to a three-month trial payment plan. They make all three payments on time. Then, the mortgage lender asks for loan modification documents. The homeowner never receives the loan modification documents to send in. Or the homeowner sends them in, but the documents are “lost.” If this has happened to you, it’s time to call us for our free Mortgage Modification Review.
Many of our clients have spent years trying to get things straightened out with their mortgage companies with no luck. In our experience, in these cases, the only way to get the mortgage companies to listen and correct the problems is to sue them. Fortunately, RESPA gives us a way for the little guy to haul the billion-dollar mortgage companies into court for their wrongdoing.
PAYING FOR YOUR ATTORNEY IN RESPA LAWSUITS – WHY WE DON’T CHARGE OUR CLIENTS WHEN WE SUE A MORTGAGE COMPANY
If you’re already fighting your bank or mortgage lender over your mortgage payments, you might think that you can’t afford a RESPA violations lawyer. But that’s not true. The law says that the mortgage company must pay your attorney fees and costs if you win. And you may be eligible for other compensation if you’ve experienced emotional distress or out-of-pocket losses.
WHAT IS A MORTGAGE MODIFICATION EVALUATION?
If any of what we described sounds familiar, you are eligible for our free Mortgage Modification Evaluation.
First, you schedule an appointment for a call with one of our attorneys. On the call, we’ll talk to you about your experiences with your mortgage company and ask questions to get a better idea of your situation and how we might be able to help you.
GET THE HELP YOU NEED TO TAKE ON THE MORTGAGE COMPANY
Mortgage companies are big, powerful and have a lot of money. It’s tough to try to take them on yourself and force them to do what they’re supposed to. In fact, many of our clients have been trying on their own for years, with no luck. It’s unfortunate but in these cases, the only way to get the mortgage companies to listen and correct their bad actions is to sue them.
Just remember, your home, a lot of your money, even your way of life, are at stake. You need to take action to force your mortgage company to correct the errors and pay for its wrongdoing.
If your mortgage company is not acting the way it should with respect to a loan modification, call us at 312-858-3240 or contact us online to schedule a free Loan Mod 2nd Look, we will look at all potential avenues for a claim so we can best protect your rights, your home, and your finances.