The Illinois Appellate Court ruled yesterday, by reversing a lower courts ruling for GMAC in regards to RESPA laws and a letter sent to the servicer asking for information about their loan!
This is VERY IMPORTANT - In regards to getting the letter OUT to your servicer via certified letter asking for all information about your loan! This is a defense of foreclosure and IF they do foreclose without replying to the letter, than you can SUE!
I had inserted a RESPA letter on Dec. 5th for everyone to send out to their loan servicer! If you had not before - NOW is the time to do it! It shows it IS IMPORTANT due to this ruling!
Please look AND READ page 3 of this ruling, to see how the letter DOES APPLY! It specifically is the reason why the appeals court over ruled a lower court's decision for GMAC.
C v. G W
Sherrie, We live in Mississippi and we have filed for chapter 13 to try to keep our home. when I looked up our loan documents in the county records it had Mers listed on it. What does this mean and why isn't our mortgage company listed. I've seen your Respa letter and would it be a good idea to send it to our mortgage company even if we have filed chapter 13
ReplyDeleteYes send it to them. Everyone should send them the letter.
ReplyDeleteI would like to caution, that while much of the information and procedures found on sites such as this one - and this one has a wealth of it - are great and can be useful, there is a fine line between utilizing it and using it when and how it needs used. I have just finished with round 1 vs PNC Bank and a year's worth of foreclosure process. Fortunately for me, I have a paralegal background and was able to sift and sort through the mountains of laws, legal strategies, procedures, etc. until I finally discovered HUD violations that forced the banks lawyers to dismiss the foreclosure - FOR NOW I PRESUME. We are now back to square one. It gives me a HUGE second bite of the apple that they will not anticipate. The point is, knowing what to use and when to use it and how to use it makes all the difference.
ReplyDeleteGood luck.