More details to this question:
My story begins with being a single mom. In 2007 i was approached and told I could own instead of rent . I gave my information and like magic I was shown a house told I could buy with no money down . Packed up my apartment went to the closing with my belongings in uhaul and was told by my agent outside that the numbers changed and instead of the 798 per month i would have to pay 1700 per month. But just for two months as they would remove the pmi which to date is 688 per month . I signed the papers we left he gave me cash for the difference for the two months, i paid the two months and he could not be found. HSBC then applied my payments to late fees and advised of foreclosure action when i explained that my payments should not be used for late payments they said ok but would not change this until i was eligible for foreclosure. So i filed 13 so we could keep our home well its 5 years later and coming out of bankruptcy with a 1200 mortgage that i still cant afford what can i do?
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I believe you may be able to file a predatory lending complaints on the federal level. With the bank has done to you is your every date bait and switch scam. These scams are illegal and there is federal law that protects against them. My office usually has a client allow a free questionnaire to deal with these situations, which are good in any state in the United States of America. We have an outside agency draft up the complaints and file them and if further litigation is needed we would retain an attorney in your state to handle any court proceedings. I'm not sure if anyone in your state is doing this, as many only use the local state and federal courts, but these complaints are filed with agencies such as HUD (United States Department of Housing and Urban Development) and CFPB (Consumer Financial Protection Bureau).
I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options.
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Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://www.newenglandforeclosuredefenseattorneys.com/ 901 Eastern Ave. Unit 2 Fall River, MA 02723 Office: 888-269-0688 FAX: 877-475-8147
Answered on Apr 08th, 2014 at 3:43 PM