Posted on 09/09/2009 6:17:51 PM PDT by hsmomx3
I am curious to know if there is a legal requirement when someone applies for a loan modification that the financial institution must provide its decision in writing.
If there is, and no such document exists, and you are told verbally of a decision, is there legal recourse?
I think you know the answer. If there was any equal application, enforcement or requirement in place they would be doing such; I believe that this has been a con all along.
I have seen where they do send notifications but for loan modification approvals and denials people I know are not receiving them.
“...for a loan modification...”
Yes, but the question is are there provisions or law which clearly states what is and is not going on in a refinance or with a troubled asset, I do not think so, yet I could be wrong.
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