- 11/10/98 Original loan $33,250 with cash back - bought house for $23,000
- 5/5/2004 refinanced with cash back $66,000- never recorded as paid off original loan in Registry of Deeds
- 5/26/08- On page one of the mortgage in Registry of Deeds, line G - "Riders" - there are 8 check boxes listed with adjustable rate rider being one of those boxes. NONE of the boxes are checked off. Yet, we did sign an adjustable rate rider paper explaining a 5/1 arm. Also, My truth in lending disclosure dated 3/24/08 said our APR would be 4.786%, yet our mortgage dated 3/26/08 put my interest rate at 5.25%. Also, never offered the option to file a Homestead.
I filed Chapter 7 bankruptcy it was finalized 10/20/14. I never reaffirmed my mortgage with the bank on the advise of my attorney. The bank finally reported to the credit agency as a discharged debt a few years later. Date unsure of- Bank joined and became a different Bank. They kept asking us to sign agreement for amount currently due- they provided a number. We never signed because they would not provide records as requested. I called Bank and asked about a home loan modification- they said I had to include my income even thought the mortgage is no longer officially my responsibility. They also required and counted both of our SNAP amounts. After the no decision saying the ratio is 32.90% so it was fine- I emailed about SNAP being counted again and received an email back with "proof" they can count it.
Quick reply - Predatory Bank Mortgage Case:
You can always learn more about common unfair mortgage lending practices, browse and read related cases and find out if you can get your money back or stop a foreclosure as a result of such unfair practices. Do not forget, that loan officer is not your friend and we all know about harmful practices that some lenders use to sell home equity loans. While some "mortgage related" laws and regulations (PDF) do exist to protect the borrower, they are complicated and limited in their reach. So how to fight against a predatory payday lender? You should realize, that that you’re not alone.
You can learn more detailed article related to What to Do if You Are a Victim of Predatory Lending on this page. If your mortgage documents clearly show that your lender (original loan) violated the TILA, you may have legal grounds to file a lawsuit against him. If your predatory loan was a mortgage, you can collect up to twice the sum of finance charges your mortgage company levied against you.
- Identifying, Avoiding, and Prosecuting Predatory Lending
- Predatory Lending: Laws & Unfair Credit Practices
- Prime & Subprime Lending Abuses
- Mortgage Fraud: Understanding and Avoiding It - Investopedia
How to find an excellent "low income" lawyer for your Predatory Bank Mortgage case? Browse our list of consumer law attorneys near you and resolve your Predatory Bank Mortgage issue! Compare financial attorney fees, experience, reputation among clients, and services offered.