In the recent past, it has become standard practice for lenders to re-sell mortgages to investors on the secondary market. A securitized mortgage is one that has been re-sold and bundled into a pool of loans on Wall Street. Mortgage securitization has made it difficult for borrowers to trace their loan to the investor who is collecting mortgage payments. Lawsuits have been filed on behalf of borrowers and investors to dispute the rights of the parties who own securitized mortgage loans and who is responsible for handling foreclosures when there are many interested investors involved.
Mortgage foreclosures increased dramatically in the wake of the great recession of 2008. A flood of foreclosures also increased the number of lawsuits filed to stop lenders from selling the homes of distressed homeowners. While the Security Exchange Commission has made some attempts to regulate securitized mortgages the effect is negligible. Our firm has filed a number of lawsuits based on faulty securitization of mortgages. When a lender sells a loan on the secondary market, there are a number of regulations and requirements that dictate whether the transfer and sale of that mortgage are valid.
There are many common issues that signal faulty securitization and predatory lending. Our firm looks for forged signatures on transfer documents, backdating of assignments, improper disclosures, and invalid recordings. While California courts generally look to the intent of the contract, a deed of trust has specific language that dictates who is designated as the beneficiary of the note and deed, and who is designated as the trustee in the event of a default. Our firm does the research to determine whether securitized loans are in compliance with the law. If you have an Adjustable Mortgage Rate (ARM) with a very high-interest rate, it is possible that you are a victim of predatory lending. If you think that you are the victim of illegal lending practices, you may need a good mortgage attorney to file a mortgage lawsuit on your behalf.
With the low home mortgage rates and low refinance rates in the past few years, borrowers have faced difficulty when trying to refinance their loans. Home Equity Loans have been difficult to refinance due to low home values. When interest rates are low, homeowner’s mortgage payments are also low, so obviously it makes sense to refinance if your interest rates are high. It has become increasingly difficult to refinance or modify securitized mortgage loans when the foreclosure process has started. Our mortgage foreclosure attorney can advise you whether it is possible to save your home and fight your foreclosure before it is too late and the sale occurs.
Our law firm files anti-predatory lending lawsuits and we dedicate our practice to mortgage litigation to help homeowners in distress. If you are looking for a mortgage lawyer in Los Angeles, California that you can meet to help you to avoid foreclosure, it is best to call and schedule a free meeting with one of our specialize mortgage foreclosure attorney today.