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When The Trial Mod Causes The Default
I am encountering a relatively new issue with loan mods. Banks are putting people into trial mods. Some homeowners were current at the time but facing an imminent default. Many months pass. Then the bank sues to foreclose based on a default alleging that the payment by the homeowner of reduced payments under the trial […]
When The Trial Mod Causes The Default
/in Foreclosure & Loan Mod Blog /by Scott LaninI am encountering a relatively new issue with loan mods. Banks are putting people into trial mods. Some homeowners were current at the time but facing an imminent default. Many months pass. Then the bank sues to foreclose based on a default alleging that the payment by the homeowner of reduced payments under the trial […]
Filing An Order To Show Cause Based On Bad Faith In Loan Modifications
/in Foreclosure & Loan Mod Blog /by Scott LaninThis is a new area of law. The question that arises is what is the lender’s obligation during a loan mod. I have researched this and found many legal grounds to raise to support an order to show cause to stay a sale or vacate a sale where there has been bad faith by a […]