I had a loan with what I know now is a Predatory Lender. I need help with this issue.?
I took out a mortgage loan with a lender and was swindled out of $ 34,000 which was my down payment. This was all of the money that I had saved all my life. I was buying my dream house. I have searched the NC laws and now know that my claim is valid. I cant afford an attorney and Legal Aid wont help me because I am a homeowner and hold a bank account and a job (part-time very low paying). I need a copy of my mortgage closing docs for the loan in order to prove my case. I also need the assistance of an attorney to write the letters on my behalf. I am willing to pay a fee of $ 500 out of proceeds received. I live in NC. Do you know of anyone qualified that will help me? I am willing to give you my e-mail address. email@example.com May I have yours?
We are in Illinois, and I need to know the laws regarding this timeframe. The original lender said they could not refinance us at a more favorable rate, so we shopped and found another which could. We completed the paperwork, and made a written request that the mortgage be released to the new lender, yet the old company is seeming to stall. I understand they don’t want to lose the loan, and that every day (minute!) that they hold onto it, they make more money off of us, but it is over a week now. When we call them, they pleasantly tell us they are so sorry, but there is a delay in processing, and they hope it will take place “by the end of today” (for 4 days now). What is the law regarding this, and how do we proceed? I fear they will delay us so long, that our next payment TO THEM will be soon due. Thanks!
Thanks for those of you who have answered so far. Let me clarify just a bit-we HAVE completed all paperwork for the new loan, and been approved. All the final signings have been done and processed. The old lender is not cooperating to release the payoff amount nor the loan to the new lender, which is why we, as the borrowers, are trying to move the process along. Until the change is made, we are still obligated to the old lender, and they hold the mortgage as hostage.