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| Predatory Lending & Mortgage Law Are you the victim of predatory lending? You're not alone. Learn about the laws and from experts who can direct you in the right direction. Mortgage laws such as the Truth in Lending Act and RESPA can save your home from predatory lenders. |
This is a discussion on Respa within the Predatory Lending & Mortgage Law forums, part of the Foreclosure Laws category; Hi , Can anyone tell me what the consequences are if your mortgage company does not respond in the 20 ...
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| Senior Member Join Date: Sep 2008 Location: Minnesota
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Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Respa Hi , Can anyone tell me what the consequences are if your mortgage company does not respond in the 20 business day timeframe when you sent a QWR? I sent mine to WAMU on Oct 13th and have no heard from them. Thanks Lisa |
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| Founder Join Date: Aug 2007 Location: Southern California
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Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: Respa
__________________ Moe Bedard Founder LoanSafe.org "America's #1 Home Loan Forum" LoanWorkout.org "America's # Loan Modification Blog" Get My FREE Loan Modification E-Book | Please donate to LoanSafe.org | Loan Modification Training For Attorneys | Rate Your Mortgage ServicerThe comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here. |
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| Member Join Date: Mar 2009
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Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: Respa I'm a newbie on this forum, but my reseach states the following, from HUD esc section 2605 - servicing of mortgage loans and administration of escrow accounts: (f) Damages and costs Whoever fails to comply with any provision of this section shall be liable to the borrower for each such failure in the following amounts: (1)Individuals - in the case of any action by an individual, an amount equal to the sum of- (A)any actual damages to the borrower as a result of the failure; and (B)any additional damages, as the court may allow, in the case of pattern or practice of noncompliance with the requirements of this section, in an amount not to exceed $1,000. ....Then describes class action amounts in paragraph 2, .... (3)Costs - In addition to the amounts under paragraph (1) or (2), in the case of any succesful action under this section, together with any attorneys fees incurred in the connection with such action as the court may determine to be reasonable under the circumstance. That is what I found anyways. Hope it helps, but keep in mind that there are other descriptions like paragraph 4 that highlights of Nonliability. |
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