How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Attyadvisor Your Own Question
Attyadvisor
Attyadvisor, Attorney
Category: Real Estate Law
Satisfied Customers: 7228
Experience:  29 years of experience in General Practice, Real Estate Law and Estate Law.
68197583
Type Your Real Estate Law Question Here...
Attyadvisor is online now
A new question is answered every 9 seconds

I have a very unfortunate situation for my mortgage loan

This answer was rated:

I have a very unfortunate situation for my mortgage loan modification process for the second time! My mortgage originated through Countrywide in 2008 and it was sold to BAC and I did receive a modification 5 years ago. However, my loan was sold to a different SERVICER about 3 years ago while our second loan modification process was not completed yet. After a long attempt, I was given a trial payment option by the new servicer from June 2016. After successfully completing the three monthly payments, the SERVICER sent a final modification agreement by adding my husband as an additional second borrower saying that he was in the deed though he was never in the mortgage. Since the servicer gave me only less than a week to accept the modification and my husband was away I signed it and send to the servicer on time requesting the servicer to remove my husband from the agreement as a borrower but if they want him to sign the modification it he is willing to do it to acknowledge the agreement but not as a borrower. Though my husband signed the agreement when he came back we did not submit it since the legal adviser asked us not to submit it until we file a motion to enforce agreement. However, my attorney did not file the motion until the servicer denied the modification though he lied to me that he filed the motion a month ago and was waiting for the return date. The late filed motion was opposed by the Servicer saying that a court cannot force the Servicer to make a better agreement. They also argued that my husband did sign the mortgage though for more than 9 years my mortgage was never reported and all the previous modifications were only in my name. My husband was never included in the monthly statement or communications. During the oral argument held on February 17, the judge gave the servicer until 17th to solve this issue or a particular type of hearing will be scheduled to see whether the court can consider that the agreement is valid since the servicer have been accepting all the payments from June till December 2016. On February 14th we received a letter from the servicer stating that my mortgage loan will be assigned, sold or transferred from this servicer to another servicer. I feel that they are doing it for wrong reasons to escape from any consequences of over charges of more than $19,000 legal fees and $450 per month inspection charges and other improper dealings etc. We received this notice on 14th of February and they state that the law requires them to inform me prior to 15 days of the event but it is actually happening in 7 days on Feb 22nd. Quiet interestingly the servicer also changed their attorney by delaying to oppose our motion to enforce the agreement. The delinquent amount including all accumulated over charges and fees exceed $150,000 bu the house still will have over $100,000 equity in it. At this time I am trying to get a better legal advice from an expert on this matter so that I could know what are my options and law on enforcing this agreement. If you are not an expert, please do not hesitate to refer me to another adviser. I am very concerned about my current attorney who did not file the motion to enforce agreement until the SERVICER denied it.If I were you what would you do at this situation? I will not consider this as a legal advise and you will not be held responsible for any decision I make. I look forward to your valuable suggestions and advice on this as we need to keep the house by all means.

Welcome and thank you for your question. I will be the professional that will be assisting you.

If your attorney did not handle your case as required you have a bar complaint against the attorney as well as a negligence/malpractice action. As far is the lender is concerned there are many agencies that investigate these matters through the State and Federal government that can assist. Have you filed any complaints.

At this point what is going in with the loan?

Customer: replied 8 months ago.
I haven't filed any complaint against anyone except a motion to enforce agreement. I am aware of the bar association if I have a concern about the attorney but I may need some information about the state or federal agencies and see what type of complaint I could do. With regard to the loan, I have been sending monthly payments since June 2016 and they have cashed payment until June but from February they are returning the checks. Court has advised the lender to do the right ting before March 17, 2017. My question was what would you do if i were you in this situation. Please advise. Thank you.

As far as the court is concerned asking the court to enforce the judgement and stay and any further action on the part of the loan servicer is exactly what needs to be done. I have been represented both the lenders and the borrowers in these matters and you must be relentless in your pursuit against the lender. Each State and the Federal Government offer assistance and the agencies tasked with investigating the lender are finally following through. Let me put together the links to file complaints today online.

In the meantime you can apply for a loan modification through a HUD counselor and get the complaint process started.

I am not seeing the State where the real property is located. Can you please let me know the State?

Customer: replied 8 months ago.
The property is in New Jersey. Isn't it a good idea to see whether the Lender is going to honor the modification before March 17th? I feel the loan modification rules and regulation have changed now a lot from last year and Lenders are not obligated to give affordable loan modification! is it true? Do you think changing my attorney as I feel that he was doing favors to the Lender by delaying to file the motion to enforce agreement until the lender denied the modification? Thanks for your continued advise.

What concerns me is the fact that this loan continues to be transferred/assigned. This only adds to the issues. The lender that is no longer holding the loan has no incentive to resolve anything. I am very concerned that the lender will try to buy time and drag this out as long as possible. I am a firm believer in being proactive. While representing the lenders in foreclosure cases I found that the only owners that had a hope of getting matters resolved were the ones that made the most noise. i would do everything I possibly could to not only hold the mortgage industry responsible but also save my home. If you lack confidence in your Attorney it is time for a change.

Please do not hesitate to ask me any additional questions that you may have with regard to this matter.

If you would be kind enough to rate my service positively so I will receive credit for my work I would appreciate it.

The site does not credit the Attorneys unless the customer rates our service positively. Thank you for your consideration. Please let me know if you were unhappy with my service and I will opt out for another Attorney to assist you.

Thank you for using JA! We appreciate your business.

Customer: replied 8 months ago.
This loan will be assigned to another Lender/Servicer in 2 days that is on Feb 22nd. What should I do to stay this? A motion? what would be the grounds for it? Please respond and you will be given an excellent rating. Thank you.

You are asking me to provide legal advice rather than general information. A motion to stay any further assignments or transfers as well as a motion to stay any action toward foreclosure would be helpful.

Please do not hesitate to ask me any additional questions that you may have with regard to this matter.

If you would be kind enough to rate my service positively so I will receive credit for my work I would appreciate it.

The site does not credit the Attorneys unless the customer rates our service positively. Thank you for your consideration. Please let me know if you were unhappy with my service and I will opt out for another Attorney to assist you.

Thank you for using JA! We appreciate your business.

Customer: replied 8 months ago.
Previously you wrote: "Let me put together the links to file complaints today online. I am not seeing the State where the real property is located. Can you please let me know the State?" After providing that information do you have anything to suggest? If not I'll just rate you for the "excellent service". Thank you.

My apologies we went off in another direction on filing a motion. Here are all of the links with the exception of the State link.

HUDhttps://portal.hud.gov/hudportal/HUD?src=/topics/avoiding_foreclosure HUD approved counselors https://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfmConsumer Financial Protection Bureau Complaint https://www.consumerfinance.gov/complaint/FTC complaint https://www.ftc.gov/faq/consumer-protection/submit-consumer-complaint-ftcOffice of the Comptroller of the Currency/U.S. Treasury Department https://www.helpwithmybank.gov/complaints/index-file-a-bank-complaint.html Additional Information:https://www.occ.treas.gov/topics/consumer-protection/foreclosure-prevention/index-foreclosure-prevention.html One moment for the State link.

This is the complaint page specifically addressing loan modifications http://www.state.nj.us/dobi/consumer.htm

Thank you for using JA! I look forward to your excellent rating. Thank you in advance.

Attyadvisor and 3 other Real Estate Law Specialists are ready to help you
Customer: replied 8 months ago.
I asked my attorney to file a motion to stay any further assignments or transfers as well as a motion to stay any action toward foreclosure by the end of today if there is no favorable response for the email from the Lendor. My attorney has postponed it for tomorrow! Since the assignment or transfer of servicer is from tomorrow (February 22) do u think we are late to show cause? Your answer would help me to go for it or not. Thanks.