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Modified Home Loans Investigation

TARP

Modified Home Loans Investigation

RealEstateLawCenter.org is interested in hearing from homeowners who have attempted to modify their mortgage loans, and feel that they were erroneously declined by lender.

This law firm is investigating several banks and lending institutions that accepted government bailout money from the Trouble Asset Relief Program (TARP). There are indications that some of these banks failed to follow government policies to help qualified homeowners obtain affordable mortgage loan revisions and other alternatives to foreclosure.

BANK OF AMERICA, GMAC, ONEWEST BANK, AURORA LOAN SERVICING, and OCWEN are just a few of the financial institutions which are under investigation. RealEstateLawCenter.org believes that these banks and others are intentionally preventing eligible homeowners from making permanent modifications to their home loans.

According to government policies, TARP-funded financial institutions must gather information from the homeowners and offer revised three-month payment plans for the borrower. If the homeowners make all three payments under the trial plan, and provide necessary documentation, the lender must offer a permanent modification.

Homeowners who have received an inadequate, or confusing response from their lender after requesting an adjustment to their mortgage loans are encouraged to contact an attorney from RealEstateLawCenter.org. Lenders are required by law to permanently modify mortgage loans if all obligations of the three-month trial plan are met.

If you feel you have been poorly or inadequately treated by your lender, call or e-mail us today to see if your case is suitable for inclusion in a class action lawsuit. We will be happy to set up an appointment for an initial consultation.

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