Legal Question in Credit and Debt Law in Michigan
finding out if contract is still viable
I recently found out that the mortgage company we were foreclosed by was found to be using unfair practices in different areas against their customers, I am researching this for my business law class, as to see if this would effect the standing of the foreclosure. Does it void our origional contract with them? Just curious so I know what to do next.
1 Answer from Attorneys
Re: finding out if contract is still viable
Ok . . . not much sympathy from me because I had to do my own research when I was in school. This may be cheating a little. However, I don't think standing would be affected unless you find a TILA violation that would allow rescission of the contract. What the company did to other customers may be relevant if they also did it to you client. One good foreclosure standing issue is whether or not the mortgage company recorded their mortgage. This becomes important if the mortgage has been sold. The mortgage company must be able to prove a chain of title.
There are some good Florida cases.
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