Predatory mortgage lending, according to the office of inspector general of the FDIC, is “imposing unfair and abusive loan terms on borrowers.” Some common predatory lending practices include: brokers that charge higher interest rates, unnecessarily large fees, prepayment penalty, targeting of minority groups, explosive adjustable interest rates, hidden fees that are not included such as taxes and insurance.

Possibly, if your case were to be accepted by one of our affiliated attorneys, they would seek the return of title to your name and/or monetary damages for wrongful foreclosure. Litigation strategy will vary from firm to firm and will be pursued only if your case is well documented and the foreclosure was carried out illegally or wrongfully.

Yes, a lawsuit or modification could apply to residential properties whether investment or owner occupied.

Clients should continue paying mortgage if they are able to unless the bank will not accept payments or a stay of payments is issued by the court.

Lenders will often not foreclose due to the “dual-tracking” laws if the modification documents are submitted in complete form and the bank has approved you for modification. This is due to the potential liability. However again we cannot unequivocally state or guarantee that a LAWSUIT OR MODIFICATION will stop your bank from pursuing a foreclosure sale date leading up to the modification approval or lawsuit outcome.

Estimating the length of time a modification will take is always uncertain as every bank and underwriting circumstance is different. Loan Mod Coach looks towards assisting you with the quickest outcome possible.

It depends on your lender and or the Investor guidelines. As you may or may not know, the bank is not always the mortgage holder and many times is merely the Servicer for another bank or private Investor. When you become a client, we will assist you in requesting the Lenders name and whether your mortgage is eligible to be modified again.