I have been dealing with Bank of America and BSI for the past four years to complete a home loan modification. They claimed they did not receive the documents they asked for, but I have an email trail showing other wise.
I just came from court, and the judge clearly saw when speaking to their attorney that the person I dealt with flat out lied. He claims "He made a mistake". If not for my email trail they would have my home.
I presented the evidence to the judge, he simply gave them another chance to do this right, after a representative told the court it would be done right the first time.
I don't trust them.
The documents they claimed not to have received, I presented an email showing the court otherwise. I still have every email sent to them.
It seems the judge let them off with a slap on the wrist. And now want me to start the process all over again.
I wonder how many other people have they did this to,
Can you sue them? Yes. Will you win? Probably no. There is no private cause of action to sue the banks because they do not approve your loan modification and keep asking you for the same documents over and over again.
Hiring an attorney does not guarantee that the bank will approve your loan modification, but when I do this for my clients, I send the loan modification package to the attorney (in addition to the bank), so every time they ask me for documents that I already sent to the bank, I simply communicate with the bank's attorney and that usually solves the "asking for documents again" problem.
It is unlikely that you will be successful on the merits for a suit grounded in "unethical business practice". Recall, the fact that the lender is conceding to a loan modification, is an accommodation, not a mandate, in the first place. Although I am empathetic to your plight, I highly suggest you adhere to their protocol and requirements, even if it seems trite, cliche, and repetitive. The modification will allow you to tailor your mortgage to payments more conducive with what you can afford...absent having to incur fees for a new refinance, altogether. Moreover, I am speculating that the modification is a remedy being sought to avoid foreclosure. Bearing all this in mind, accept the accommodation being granted and do not question the manner in which the accommodation is being given. You still have your home; you are not subject to foreclosure; you are making steps, albeit slow ones, to modify your loan without resorting to a straight refinance. Good luck to you.
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I agree with my colleagues; and would add that I believe that much of the trouble you are having (and will likely CONTINUE to have until your patience is exhausted) is that you it appears you are representing yourself in Court.
There is a reason lawyers go to school for three years after college, and then have to take a bar exam to practice. What's more, even if you were Board Certified lawyer, I would STILL advise against this, for as Abe Lincoln (a darn good lawyer himself) once said, "he who represents himself has a fool for a client." One should NEVER represent themselves in court - even if they are a lawyer.
That said - I would strongly suggest you retain a good local foreclosure attorney to advise you here.
Hope this helps.
Hope this helps.
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Very unlikely you would ever win such a lawsuit and would be a waste of money. You would be wiser with your money to hire an attorney at this point to defend the foreclosure and deal with the bank. The bank treats lawyers much different than homeowners about the documents, and the attorney's know the right way to get them all in and reviewed.
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This is not uncommon for many lenders. While you cannot sue based on the lack of providing you a modification, you may be able to defend the foreclosure based on the pending modification assuming it is pending and you ultimately get approved.
Much of your frustration is because you are representing yourself. I suggest that you retain a local attorney to help you through this process.
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