How does one fight a company that was identified as 'too big to fail' yet is operated by incompetent, under trained, $8.00/hr customer service associates who simply read the screen? The only answer I can give to you is to educate yourself and use your legal rights to prove you will not be bullied into accepting what they believe is your fate. Whatever life changing event led you to this current situation, you still have the power to fight back. It's about knowing what you have the legal right to fight about.
- If your facing foreclosure, demand to see the note. Even if you already have a copy, demand it anyway. They have to provide you with proof they have the right to try to take your home. The Consumer Warning network has created templates for a legal request, a letter to your lender and a motion to compel to help you through the process.
- Consider talking with an attorney about a loan audit. There are many scams out there but with a little research you'll be able to find a reliable auditing company. A real estate attorney will be able to suggest a good audit service. Be very careful. Predators target people in distress. Be sure they are associated with a law firm to defend the findings.
- You can get ready for the audit by sending a qualified written request to your lender. Here is a great template to use in order to request copies of your loan documents. ( click here ) It is a qualified written request that demands copies of all documents pertaining to the origination of the mortgage.
Sometimes this is enough to shake up the mortgage company. It gives them some indication that you know what you're looking for. If there is any possibility that your loan may contain errors, this move may get them concerned about what might be found. These errors are violations of the laws that have been put in place to protect borrowers. When these laws are broken by mortgage companies many judges will find in the favor of the borrower.
Remember, they don't have the right to