Get immediate help from a Naperville foreclosure litigation attorney
Falling behind on your mortgage may not be entirely your fault. Of course, you cannot help a job loss or other financial crisis. But did you know that many practices by lenders and mortgage-service businesses are improper and can cause or increase the financial hardships that lead to foreclosure?
The foreclosure litigation lawyers at the Law Office of Brian Covert make it our mission to unearth every possible infraction of theirs in our effort to help you keep your home. We do not hesitate to take powerful mortgage companies to court in DuPage and Will Counties to hold them accountable when they harm our clients.
Types of lending misconduct we pursue
Beyond calculation errors and failure to follow regulations, a broad range of litigation defenses is available if you have been wronged during the mortgage process. A foreclosure litigation attorney at our Naperville law firm may file a claim for breach of contract, breach of fiduciary duty, unfair trade practices or any number of different types of fraud.
Improper conduct includes:
One of the most common violations of the Truth in Lending Act (TILA) or the Real Estate Settlement Procedures Act (RESPA) is convincing homebuyers to take on a high mortgage that they clearly cannot afford. You then persistently struggle to make payments until eventually you wind up in foreclosure proceedings.
Fees by lenders to mortgage brokers and originators
Mortgage brokers sometimes alter the terms of the loan by increasing the interest rate or points offered, in exchange for favorable treatment by the lender. These fees often are not disclosed to you and tack on a substantial sum to the loan.
Excessive escrow deposit requirements
Sometimes, escrow deposits significantly exceed the amount actually needed to make tax and insurance payments on the home. Essentially, you are required to provide their lender with interest-free loans that you often cannot afford.
Private Mortgage Insurance (PMI)
In our experience as Naperville foreclosure defense attorneys, we have seen lenders and mortgage administrators who do not disclose to you how and when you may cease paying for PMI. Thus, you continue to make costly payments long after they are no longer required.
Incorrect adjustments to ARMs
Adjustable Rate Mortgage (ARM) contracts are supposed to clearly spell out when a rate may be increased. In many cases the language is not well defined or lenders flaunt the provision, raising rates as they see fit.
All of these practices require you to pay more on a loan, threatening your ability to meet mortgage obligations. If you have been a victim of such conduct, a Naperville lawyer at our firm can help.
Litigation of inappropriate tactics can help:
- Keep you in your house
- Stop all foreclosure proceedings
- Protect your credit rating
- Provide you with damages paid by the violator
Foreclosure lawsuits often convince a lender to renegotiate your loan without ever going to court. Our Naperville mortgage modification lawyers can help sort through the complexities to reach a payment arrangement that works for you.
Holding lending authorities responsible for wrongful conduct in Illinois
If you suspect improper tactics have put your home in jeopardy, count on the Law Office of Brian Covert to help. Contact us online or at 630-717-2783. to schedule a free confidential consultation to discuss your case. We can accommodate off-site and off-hour appointments, and we have offices in Naperville, Warrenville and Schaumburg, Illinois. Attorney Sadia Covert speaks Urdu and Hindi, in addition to English.