Legal Question in Real Estate Law in Ohio

I have a question in regards to my Loan modification. I have been approved for several months for my modification. It sat with the bank for several months waiting for the negotiater to come to a desicion. I kept sending my paystubs bankstatements ect. We are behind on our mortgage. So now that the 13 month has come we have been approved for our modification, They needed to come to a descision with us before the 12 month arrived. Now as we are now on month 13 they approved us. They won't tell us what the terms of the new loan are? What our payment will be or anything about the loan until we pay them 2 months of back mortgage payments to get it back under 1 months? IS this legal? They lost our paper work at least 7 times and we had to re-apply 7 times. Over the last year we have letters saying we were approved and were waiting on the docs to arrive via Fed Ex. Then the Fed EX package comes and it's paperwork to start the process all over again or a letter that we have been declined! I don't get it?


Asked on 8/17/10, 4:19 pm

1 Answer from Attorneys
Nancy Fioritto Patete Nancy Fioritto Patete, Esq.

This type of delay and mismanagement has happened to so many people. The law is on their side because they are the creditor and you the debtor. The best I can say--and I'm not an expert on this--is to report this actitivy to the Ohio attorney general consumer complaint website. If there is an ombudsman or similar position with your financial institution, do the same.

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Answered on 8/25/10, 5:37 am


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