Legal Question in Real Estate Law in Georgia
Two years ago I became unemployed. I notified my mortgage company they said,never got anything in writing, that they would suspend my payments for three mos. As soon as I regained employment,within three months, I began making payments only to find that I had a foreclosure date. They told me,not in writing again, four days before the foreclosure that they would do a loan modification. In the meantime, they've had a large staff turnover which has affected my loan modification process drastically. They seem to not have any internal communication, procedures, protocols, etc: It's been nearly two years since the process started-they finally sent me a contract to sign that said I promised to make three consectutive payments as the precursor to the loan modification. I held up my end of the bargain and consistently made monthly payments on time since then. They still haven't completed the loan modification! It is typical for them not to answer the phones and emails and it's a blessing to get a return call. I can't even get management to return my phone call. I can't refinance w. another company because this hasn't been resolved yet. Can I sue my mortgage company? If not, how can I move forward? What are my rights?
1 Answer from Attorneys
First of all, yes you can go to other lenders.
Second, you are two years overdue on seeing a lawyer. Modification is only one of several options. A lawyer will discuss them.
There is no absolutre right to be approved for a modification. Banks are required to consider applications, and banks do very poorly at them. Contrary to their public staments and ads, most lenders have completely screwed up processes to review claims. Several lenders - such as Bank of America, Wells Fargo, Citibank and Chase are exceptional bad to the point where many lawyers feel they are incompetent, and lenders do get sued over these problems.
But you have been way too passive. I see also that you seem to think you should call and email banks. That is NEVER okay and it may prevent you from a modification and may prevent you from suing. You need a copy of every contact, and every contact should be made by a way where you can prove delivery (I recommend priority mail with delivery confirmation).
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