Reasons Lenders May Listen

ENOUGH IS ENOUGH! WE NEED TO MAKE THE LENDERS LISTEN!
The reasons that lenders may start to listen to you now are as follows:

1. You have an Attorney representing your interests (highly advisable).
2. You and your Attorney are armed with a Forensic Document Audit showing violations of law.

You or your attorneys have a number of different methods and strategies utilizing the law in the effort to get the lenders’ to listen, and finally, bring them to the negotiating table.

Some of these strategies are listed below:

1. Sending a certified “Qualified Written Request”, a “Demand Letter”, sets up a required response time line by the lender. “Can you hear me now?”
2. Violations of Federal Laws discovered in the Audit, such as violations of Truth in Lending (TILA) statutes, Real Estate Settlement Procedures Act (RESPA) statutes, and Unfair and Deceptive Acts and Practices (UDAP) statutes should all get a lender’s undivided attention.
3. Finally, if necessary, a lawsuit can be filed based on these violations of law by the lender in the processing, underwriting, funding, and even the servicing procedures (monthly payment collections, notifications of default, etc.) uncovered when examining your loan documents.

As we have mentioned, these violations of law can carry very stiff penalties for the lender. Some of these violations may be utilized to:

1. Stop or even invalidate (overturn) a foreclosure sale.
2. Allow the borrower to “rescind” (cancel the loan retroactively).
3. Document actionable negligence and fraud by the Lender, Appraiser, Title Company, Originator, or Servicer in the loan process.