MORTGAGE RIGHTS
Loan Modification Mistakes Servicing Transfers During Loss Mitigation

Transferring loans during the loss mitigation process heightens risks to homeowners, including the risk that documents and information might not be accurately transferred. Incompatibilities between servicer computer platforms can cause the new service  to fail to identify and honor in-place loss mitigation agreements.

 

Additionally, some servicers fail to honor the terms of in-place trial modification agreements after transfer. Some homeowners who have completed trial payments with the new servicer nevertheless encountered substantial delays before receiving a permanent loan modification. The delay causes substantial injury because trial payments are less than the regular payments, and interest continues to be charged on the unpaid principal balance. I explained this problem  in  Time Is Not On Your Side.

 

 MORTGAGE RIGHTS
The site does not provide legal advice. Neither Susan LaCava nor her law firm, LaCava Law, S.C., represent you until there is a signed retainer agreement.
Loan Modification Mistakes Servicing Transfers During Loss Mitigation
 MORTGAGE RIGHTS
 MORTGAGE RIGHTS
The site does not provide legal advice. Neither Susan LaCava nor her law firm, LaCava Law, S.C., represent you until there is a signed retainer agreement.
Loan Modification Mistakes Servicing Transfers During Loss Mitigation
 MORTGAGE RIGHTS
 MORTGAGE RIGHTS
The site does not provide legal advice. Neither Susan LaCava nor her law firm, LaCava Law, S.C., represent you until there is a signed retainer agreement.
Loan Modification Mistakes Servicing Transfers During Loss Mitigation
 MORTGAGE RIGHTS
The site does not provide legal advice. Neither Susan LaCava nor her law firm, LaCava Law, S.C., represent you until there is a signed retainer agreement.  MORTGAGE RIGHTS