Legal Question in Real Estate Law in California
real estate
my lender violated a statute but claims the statute does not have a remedy so i am out of luck. is it true that if a statute does not include a remedy there is nothing to complain about?
4 Answers from Attorneys
Re: real estate
Theoretically every wrong has a remedy. I am currently handling an appeal based on a lender's violating a law that seemingly has no remedy. If you have lender problems you should not be getting your legal advice from the lender!
Re: real estate
Theoretically every wrong has a remedy. I am currently handling an appeal based on a lender's violating a law that seemingly has no remedy. If you have lender problems you should not be getting your legal advice from the lender!
Re: real estate
There is the question of standing to sue, i.e., to whom the remedy belongs.
In California, for example, we have a bunch of laws regulating the issuance of securities. However, a private person cannot maintain suit for violation of many of these regulatory statutes - only the attorney general or the commissioner of corporations may sue the issuer.
Similarly, there may be no private cause of action for a lender's violation of certain statutes. As Mr. Stone points out, don't take the lender's word for it!
Re: real estate
If it is merely a technical violation without financial damage to you, report it to the appropriate agencies for action.
If you have been financially damaged by the conduct of a lender, illegal or not, you could bring suit. In that case, feel free to contact me for legal help if serious about taking action.
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