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Tina, Lawyer
Category: Legal
Satisfied Customers: 8775
Experience:  JD, BBA Over 25 years legal and business experience.
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The Note & Mortgagor signed for a re-finance loan, and is

Customer Question

The Note & Mortgagor signed for a re-finance loan, and is now in foreclosure. Besides being under the Foreclosure statutes, my question is: are the Note & Mortgage together a consumer contract under the federal Fair Debt Act? ( or whatever it is called...) ??If a "consumer contract", The following would impact the plaintiff bank quite negatively:
(consumer contract, which defines a contract void if not signed by both parties to the contract (the mortgagor and the bank) and demands "consideration" on the part of the buyer...(when the bank buys or "assigns" the note...)
Submitted: 1 year ago.
Category: Legal
Expert:  LegalKnowledge replied 1 year ago.

I am not sure I understand. Are you saying when the mortgage was refinanced, it was never signed?