Missing Loan Documents Stall Mortgage Foreclosure

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Foreclosure lawyers and specialists can also usually take the case from you for a flat fee that could equal just one or two months’ of your monthly mortgage payments, and not only can they help delay or stop the foreclosure filing, they can also just help you avoid the legal pitfalls that homeowners can fall into when trying to represent themselves through the process.

Foreclosure is the legal means that enables your lender (who holds your mortgage) to repossess or take back your house in order to get their mortgage money back and settle any outstanding fees. real estate investors sometimes get properties at below market value, meaning that some of the equity that has been built up will be wiped out.

That is why if a document turns up missing in the loan file of a mortgage loan that is being processed for foreclosure, the servicer should immediately address the problem so that the mortgage loan stays as close to the intended schedule for foreclosure as possible, and that the missing document or other problem is dealt with promptly.

My Mortgage Company Can’t Find the Loan Documents. Possibly this is a common issue these days, I am not sure but most of mortgage closing papers are missing. I never recived a copy of any papers after the closing in 2005. also at that time they cheated me and caused me an extra $500.00 per month payment at the last minute of the closing.

If you’ve fallen behind on your mortgage payments and a foreclosure sale is looming in the very near future, you might still be able to save your home. You can potentially file bankruptcy, apply for a loan modification or other workout option, or file suit against the foreclosing party (the "lender") to possibly stop the foreclosure entirely, or at least delay the process.

 · If that’s true, then Bank of America may discover that it has millions of loans on its books that it thought it had transferred to trusts that issued mortgage backed securities, because 96% of Countrywide loans were ostensibly securitized.

(A common predatory practice is "flipping," which involves "repeatedly refinancing a mortgage loan without benefit to the borrower, in order to profit from high origination fees, closing costs, points, prepayment penalties and other charges, steadily eroding the borrower’s equity in his or her home.").

House Votes to Rescind $1B in Neighborhood Stabilization Grants The Federal Reserve is inviting public comment on a rule that would provide four options for complying with new amendments to the Truth in Lending. by consumers’ homes and permits consumers to.