I spoke with a lady last night who needed help with a loan modification. After speaking with her for a few minutes I realized that these were some funny things going on when she obtained the loan through a mortgage broker. In other words there was definitley some signs of predatory lending.
From being in the industry, I know there are certain guidelines and laws that you have to follow. One that was violated on her refinance was when she signed her loan documents, the notary back dated the papers for 3 days back and they eneded up recording and funding the loan the next day, thus relinquishing her right to a 3 day right of rescission.
What kind of legal recourse does this homeowner have?