Mortgage Lenders Continue To Find Themselves In Legal Hot Water For Abusive Practices Targeting Homeowners
A mortgage modification is when a homeowner requests that the mortgage lender restructure the loan, usually due to financial difficulties.
When a homeowner requests a mortgage modification, they go into the application process assuming it will be a simple and quick process, only to be met with delays, unreturned telephone calls, and multiple claims by the mortgage company that the homeowner failed to send in documents. Homeowners may even have proof the documents were sent such as a fax confirmation sheet or a certified mail receipt – but the mortgage company denies receiving the document.
To highlight some of the ongoing issues of mortgage lenders abusing homeowners, below are two cases involving two of the nation’s larger mortgage lenders.
Sundquist v. Bank of America, No. 10-35624, Adv. Proc. No. 14-2278 (Bankr. E.D. Cal. March 23, 2017). A copy of the opinion can be found here.