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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 7416
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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I was a victim of predatory lending American and in 2004

Customer Question

I was a victim of predatory lending I'm African-American and in 2004 2005 I refinance my home and I did not have insurance and the house burned the mortgage company had insurance on the house and said that they were going to fix it and send me a check to fix it and then they said they were going to foreclose on it I have paperwork from the insurance company stating that they did have insurance and I have a paper stating that I had insurance in escrow and that the premiums were paid I don't know if I can do anything about it now but I know there is the n-double-acp predatory loan investigation for African Americans and women into all those type of situations and the mortgage company was New Century Mortgage is there anything that I can do
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Irwin Law replied 1 year ago.

Hello Karrie: What an awful situation to be involved in. Basically, depending on the type of insurance coverage you had, (replacement cost or cash value) the mortgage should be fully paid off, and any overage should be remitted to you. You will own the damaged home and the land free and clear. Depending on your credit, you can locate a contractor to fix the home and obtain a new mortgage for that purpose. I hope this answers your question about what can you do.

Expert:  Irwin Law replied 1 year ago.

Hello again. Do you have a follow-up question? I am not an employee of Just Answer and I receive credit for assisting you based on your rating. Please enter a positive rating for my assistance here by clicking on 3, 4, or 5, for which there is no additional cost to you. Thanks again for using JUST ANSWER.