Taking Back Control of Your Life
It is no surprise that the economy has been tough for many individuals for the past few years. Many families have lost their own due to not being able to keep up with their mortgage payments. Since the housing marketing flipped to become a buyer’s market, some lenders took advantage by granting loans to individuals who did not meet the criteria for a loan. In these cases, you can sue your lender among many other reasons we have listed below, to help you out during this difficult time.
Reasons to Sue Your Lender
You might feel it is counter-intuitive to sue your lender but banks do not work in the same way everyone else does. Their main goal is to make money and rather than sit back and allow them to take advantage of your situation here are a few reasons why you should consider taking legal action.
Filing a lawsuit can put you back in control of the situation. Asking for a loan modification can be extremely difficult and an attorney can help. Applying can be a nightmare as you hear many stories about the banks mistreating homeowners.
They can also aid you in gaining monetary damages. As stated before, some lenders have been taken advantage of by their lenders which is why many states have adopted a Homeowner Bill of Rights which provides homeowners monetary damages if they are a victim of deceptive practices. Your attorney can also help you with attorneys and court fees since you can recoup your fees as a part of your damages.
Ultimately you might end up with a better loan modification with an attorney than you would by seeking it out on your own. This is because your lawyer will be well-versed in the legalities on real estate and can find angles you might not have thought of.
Los Angeles Litigation Lawyer
Most homeowners do not file a lawsuit because they feel like bank are untouchable but this is not the case. In order to take on a bank you will need a professional liability attorney. At the Law Offices of James T. Hudson, our attorneys are well-versed in real estate and banking laws. For a free consultation, contact our offices at (213) 386-2747.