New clients often come to our office after they’ve become frustrated with their mortgage lender. As of late, this has been a hot topic of discussion on the news, as many banks are being penalized for inadequately responding to requests for a default resolution by homeowners. The banks are processing many applications for loan modifications, and some banks have handled the influx of applications quite poorly.
Even if you don’t have a Miami foreclosure defense attorney currently assisting you with your loan modification, there are some things that you can do, that are absolutely free. From experience we have found that submitting a complaint with the Consumer Financial Protection Bureau is helpful in getting the bank to act. The guidelines set by the CFPB require that the lender respond within 15 days of the claim, and most complaints are settled within 60 days.
Filing a complaint is effective in moving along the process of a loan modification, refinance, or short sale, but it is important to remember that it will not deter a lender’s attorney from filing a foreclosure suit. We often use this in conjunction with other foreclosure defense efforts. If a foreclosure suit has not been filed, we recommend that you keep an eye on civil suits filed against you. When our services are retained, we will take this off your shoulders and send you a monthly email with any updates. However, our team is always available to show you how to look up civil suits in Miami-Dade, Broward, or West Palm Beach, if you would like to check more frequently.