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Old 10-10-2007, 09:10 PM   #11 (permalink)
Moe Bedard
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Location: Southern California
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Re: Ways to Stop Foreclosure

In order for a loan to be rescindable, meaning you win your case and your lender agrees to take back the loan they sold you based on Truth in Lending Act violations, such as your 3 day right to cancel claim. You have to be able to obtain a new loan to take the old loans place.

Now this is where many problems come in for homeowners like yourself because you cannot refinance. Thus you cannot have that predatory loan taken away because you can't pay them back with a new loan.

Maybe you can get them to modify based on TILA violations? Has your lawyer approached the for a loan modification?
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