Case in point: Lenders, oral promises and no signed commitment
Can a lender’s verbal promises be relied upon?
Read Moreby Matthew Shade | Jan 8, 2014 | Laws and Regulations, Real Estate, Recent Case Decisions | 0
Can a lender’s verbal promises be relied upon?
Read Moreby Nicole Jessen | Nov 5, 2013 | Real Estate, Recent Case Decisions | 0
Facts: A distressed borrower applied for a loan modification under the Home Affordable...
Read Moreby Nicole Jessen | Oct 28, 2013 | Real Estate, Recent Case Decisions | 0
Facts: A distressed borrower applied for a loan modification under the Home Affordable...
Read Moreby Nicole Jessen | Oct 23, 2013 | Real Estate, Recent Case Decisions | 0
Facts: A distressed borrower applied for a loan modification under the Home Affordable Modification Program (HAMP). The lender prepared a trial period plan (TPP) stating the borrower will receive a permanent modification if they make trial modification payments and submit qualifying documents. The borrower successfully made all TPP payments and submitted the required documents but the lender denied the borrower a permanent loan modification and the home was later sold at a trustee’s sale.
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