Mortgage Servicing & Wrongful Foreclosure

Mortgage servicers and banks rely on automated systems for the purpose of crediting your payments and managing your account. Those systems fail when incorrect or inaccurate information is inputted into the system by their representatives. When confronted with their accounting mistakes, these mortgage servicers simply rely on the incorrect information showing for your account in their systems without any other critical analysis. When this happens, they press forward with trying to collect money they are not owed. They use all of the power they have, even the foreclosure process, to collect fees and payments to which they are not legally entitled. The federal Consumer Financial Protection Bureau reports that it receives over 50,000 mortgage-related complaints annually.

Common mortgage servicing problems include:

Failing to properly credit payments received

Mishandling escrow accounts

Failing to properly respond to requests for information

Failing to properly investigate and respond to disputes or requests for information from borrowers

False credit reporting

Failing to properly update credit reporting after the completion of either a Chapter 7 or Chapter 13 bankruptcy

Failing to provide notice that the servicing company has changed

Improper force-placed hazard insurance

Your St. Louis Wrongful Foreclosure Law Firm

A number of different federal and state laws protect consumers who have been mistreated, abused or wronged by a mortgage servicer. If a mortgage servicer hasn’t followed the law or fails to recognize your legal rights, and in the process it abuses you and your family, we’ll go after them and make them pay. Contact us for a free consultation about your rights.

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