A mortgage attorney will assess the initial terms of your loan, the value of the modification process, and the actions taken by the lender in servicing the loan. Mortgage litigation allows the homeowner to take the financial institution to court. The homeowner can no longer be overlooked until the institution decides to foreclose. The attorney will provide litigation support giving homeowners their day in court and the chance to resolve their disputes and negotiate on an equal level with their lender.
A mortgage attorney will identify bad acts by the lender such as:
- Accounting mistakes
- Hold ups in the modification progression
- Causing modification ineligibility or decrease in equity
- Failure to institute a permanent change
- Continuing with foreclosure while in modification evaluation
- Encouraging defaulters to fall further behind
A mortgage attorney prepares and files lawsuits when facts show that the lender unnecessarily prolonged the modification process; hurting your equity and credit. They review the loan modification history, the basis of modification delays and modification denials, and whether the lender acted illegally. They will sue your lender by preparing a summary of facts showing the judge the homeowners’ story and by drafting the legal arguments showing how the lender violated the law.
Mortgage attorneys often see a pattern of excessive postponements; lenders losing documents over and over again, bank staff telling you that your fax was not received, putting you on hold for unnecessary periods of time, or simply not returning your calls. Lenders often put off helping or have no intention of helping as they try to stall until it is too late. There is a time limit to sue a lender or financial institution based on the length of the written legal agreement.