If you are having problems with your mortgage lender, a recent report from the Special Inspector General for the Troubled Assets Relief Program (SIGTARP) may explain why. It is common for mortgages to be sold, or the servicing rights to be transferred from one company to another. Many homeowners have experienced problems with loan modification applications being “lost”, trial loan modification agreements not being honored, or their loans being reported in default following a loan modification because the new owner/servicer of their mortgage did not receive accurate information. Consumers who have never applied for modification and have always been current with their mortgage payments may be told once their loan is transferred that their mortgage is “delinquent”. Regulations exist which protect consumers in these situations.
If you are having trouble with your mortgage company, contact me. I’ll be glad to look in to your situation and see if you have any claims for relief.