Loan Document reviewed

[jsteve]

Liniw,

Maybe the answers will help you in determining if you need a review. I have not gotten anywhere since April with my lenders as of yet but just got my review in yesterday.

Hopefully someone can explain it to me. LoanSafe solutions conducted it. The violations are:

TILA finance charge violation
TILA recission finance charge violation
TILA APR violation
TILA right of recission violation


Exactly what these mean and how it will help me, WHO KNOWS????? I have a first and second and it seems the violations were in regards to the first (CW). 2nd is HELOC with HSBC so it might not pertain. I am not sure and have not heard back from my attorney yet regarding whether this helps or hurts me?

J

[jsteve]

Bump.

So does anyone know if these apparent violations mean anything and does it give me and my attorney any additional bargaining power towards a decent loan mod?

J

[Moe Bedard]

You would need to ask the person who did the review that question........

[jsteve]

Originally Posted by *** Damiano

You would need to ask the person who did the review that question........

Thanks.

Loan Safe solutions did the evaluation with much help from this forum and I have not called to speak to James DuFour who is listed as the VP of Processing and Audit Department and I have not heard from Marshall either who is representing us.

J

[elpjohnson]

J

I have Marshall as an attorney an he explained the results of my audit to me.....have you tried contacting him directly? I would call him or Vivien and ask them your questions so that you can get the exact answers you are looking for.....it's hard when it's an individual audit to get general answers to your specific questions.

[jsteve]

Originally Posted by elpjohnson

J

I have Marshall as an attorney an he explained the results of my audit to me.....have you tried contacting him directly? I would call him or Vivien and ask them your questions so that you can get the exact answers you are looking for.....it's hard when it's an individual audit to get general answers to your specific questions.

I sent an e-mail but I will call. Vivien is always there I know. How are you progressing with the process? They threw one offer at us which was 7.75% which is what it jumped to in January 08 which started causing my problems in the first place. Hopefully with these TILA violations we may have some more bargaining power. Hoping for the best and preparing for the worst.

J

[elpjohnson]

Originally Posted by jsteve

I sent an e-mail but I will call. Vivien is always there I know. How are you progressing with the process? They threw one offer at us which was 7.75% which is what it jumped to in January 08 which started causing my problems in the first place. Hopefully with these TILA violations we may have some more bargaining power. Hoping for the best and preparing for the worst.

J

We are in the final stages of the negotiations with OOMC/AHMSI for the loan modification.....the negotiator went to the investor last week with all of our financials etc. to try to work out the modification, however, I got an e-mail from Marshall stating that he sent the negotiator a letter reminding him of the violations in my loan docs and to pass that info onto the investor.....so I think the investor is being difficult at this point.

I am definitely hoping for the best and preparing for the worst.....praying for a resolution daily.

Good luck and keep us all posted on your progress....if you have any other questions feel free to post them and I'll try to answer them as best I can.

Take care and God bless....you're in my prayers.