Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Hi All

Would a new mortgage modification in which the terms and interest  rate get adjusted or changed effect the original mortgage terms? Would the new contract render the old contract Null and Void?

Does the new modification trump the old terms?

TIA

Best regards

Acesfull/ NJ
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It would depend on the language of the modification agreement, but nearly all of them say that they do NOT override the original mortgage and note terms.

Paul

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Hi All

Hi PaulR-- Thank you for your reply.

So its possible that a homeowner could go 10-12 months delinquent on a mortgage payment. Then  acquire a mortgage modification with different interest rate and new higher principle balance, make a payment, then go delinquent again. Lender can only sue for the original loan balance? Interesting.

Like you said, I guess its all in the language of the modification.
Lender may need to bring two separate lawsuits.
First for the original amount of the mortgage.
Second on missed payments that were added to the modification. However this method would be costly in terms of the additional litigation.

In my situation. The lender is only bring suit on the original loan balance which is 60k less then my actual Principle Balance.

Anyway a good topic for discussion.

TIA

Best regards

Acesfull



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