It has been alleged that a number of banks are offering their borrowers trial period plans, the successful completion of which would result in a permanent HAMP loan modification. Even though borrowers are paying the reduced monthly loan payments outlined in these contracts and submitting the requested documentation, allegations have surfaced that the banks are finding ways to avoid granting these permanent modifications.
Consumers have complained of a number of problems, including that their bank failed to evaluate their eligibility for a HAMP loan modification in a timely manner, repeatedly requested the same financial information, “lost” documents they were required to submit, and invented “obstacles” in the evaluation process to delay or prevent them from obtaining permanent loan modifications. Furthermore, it has been alleged that mortgage loan servicers are profiting from delaying borrowers’ loan modifications.
If you entered into a temporary loan modification contract and met all the requirements for the trial period, but never obtained a permanent modification of your home loan, you may have legal recourse. For more information, please visit ClassAction.org today.
About Class Action.org
Class Action.org is dedicated to protecting consumers and investors in class actions and complex litigation throughout the United States. Class Action.org keeps consumers informed about product alerts, recalls, and emerging litigation and helps them take action against the manufacturers of defective products, drugs, and medical devices. Information about consumer fraud issues and environmental hazards is also available on the site. Visit http://www.classaction.org today for a no cost, no obligation case evaluation and information about your consumer rights.
Accidents.com
Whitney Shields
800-449-1970
pressrelease@lawyercentral.com
Source: EmailWire.Com
