We hold that a series of standardized agreements to cure default between a non-debtor mortgagor and the mortgage servicer are covered by the Consumer Fraud Act, even when executed post-foreclosure.

From: nikoalexopoulos

As a lot of you have come to realize LOAN MODIFICATIONS have not solved anyone’s problems but to put more money into the bank’s pockets and have the homeowner eventually wind up back where they were before the loan mod, but this time with the bank arguing that although they tried to help the homeowner the homeowner fell behind again, therefore they need to finish the foreclosure. The bank also argues that if they were any discrepancies or infractions on the original loan, well by the homeowner agreeing to a LOAN MODIFICATION the original loan is null and void and the terms on the loan modifications are in effect. They also argue that the homeowner basically signed away their rights to the original loan and are bound by the loan mod terms. However the bank still maintains theirs and will seek to foreclose on the homeowner. Well, the judges are beginning to see what we have been saying all along. BE AWARE if fraud was committed in the original loan ti does not make it go away because the bank gave the homeowner a loan modification and it puts the homeowner in a position to seek legal and financial compensation from the bank. GOD BLESS
Here is the detail info:
SUPERIOR COURT OF NEW JERSEY
APPELLATE DIVISION
DOCKET NO. A-2634-08T2

This is why getting a Forensic Loan Audit is much needed. This is not something an amateur should attempt leave this to the professionals who have the keen eye for understanding complexities to address all applicable regulatory compliance requirements as well as any Federal and State violations.

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