More details to this question:
I think my Mom has been the victim of a predatory loan that I have just become privy to. She never received a TILA, she is at 7% and interest only. There may be $20,000 unaccounted for and the company she took the loan with was bought out by PNC who now holds the mortage. They say they do not have a TILA on record and I am wondering how that is possible if they bought her mortage?
1 ANSWER
It is impossible to answer how a conclusion you have reached on your own is possible. Was your mother given any papers at the time the documents were executed? Your mother may certainly request a copy of her file which should be reviewed by a lawyer. You are correct that a TIL was required to be provided. You will more importantly want to see the HUD-1 which accounts for every penny at closing and hopefully will reveal the whereabouts of the $20,000 you believe to be unaccounted for. Have her make a written request to PNC and see how they respond.
Answered on Feb 14th, 2013 at 3:30 PM
I do NOT know you. I am NOT your lawyer. For more information, please feel free to visit my website or schedule an appointment. nathansonlaw.com