Lender Litigation Practices: Fighting Fire With Fire
If your loan situation comes down to a fight - as many do - then you want a tough, smart attorney at your defense. And on your offense.
One of the most important parts of your fight against your mortgage lender will be setting up an alternative funding source just in case things turn really sour. After all, you don’t want to lose your home while you are fighting for your rights.
An alternative funding source helps you do four things:
- Get out of a predatory loan
- Meet all your financial obligations in case you have an extended right to rescind your mortgage loan
- Remove yourself from an abusive loan servicing operation
- And provide stability while you transition from volatile and inappropriate loan products designed to take away your wealth and redistribute it into the pockets of your lender into fixed rate mortgage products that are predictable, wise, and designed to help you create and protect your wealth
Most homeowners don’t have an advocate. They are in it alone and unscrupulous lenders know this. That’s why they’ve stacked the deck in their favor and are all too willing to sell you adjustable rate mortgages you don’t need and other loan instruments that are damaging to you, your credit, and your financial health. They really don’t care about you at all.
Litigation isn’t fun. We all want to avoid it if we can. But you’d rather go into court than be taken advantage of. But before you do, set up your alternative funding source so that you have a safety net in place if things get really nasty.
Learn more about lender litigation for the loan modification process today.