Nowadays,
so many people are deceived by their lenders. There are various ways how this
mishap happens. In most of the cases, borrower ends at the gate of the court. Dean
believes that it is quite hard to find out whether your lender is the person
who genuinely helps you or he is making a deceiving plan for you. In most cases,
it is almost impossible to find out whether you have a true lender or a
deceiver. However, the doors for legal help are always open.
Dean
Graziosi suggests borrowers that they must cross check some facts whether they
can sue their lender. Dean Graziosi is a realtor with par
excellence. He
has been working in the field of real estate for more than twenty years. In
such a long period, he has faced so many ups and downs. He has written books.
His books are New York Times bestsellers that define his struggle and success
journey.
He has
also designed course that helps real estate aspirants to understand hidden
tricks of real
estate. Dean
has been supporting a number of charity causes.
You Can Sue Your Lender If:
According
to Dean, you can sue your lender but must make sure that you are actually making
a fair call.
- Your broker has shown your income wrong
- The broker hid the fees
- They didn’t give you copy of the good-faith estimate
- You didn't get an accurate HUD-1 statement
- After signing the deal, they didn't give you copy of notice of recession (this notice explains your rights of canceling the refi within three days)
- They give you a loan less than you qualify
- They give you loan more than you can qualify
- They deceived you in any way
How to Play Safe:
It is
very necessary that you must take precautions before facing such extreme
situation. Always get everything in writing. Most of the problems arise when
the agent comes at your home to sign the papers. He will tell you to sign on
the papers, whereas he will get your copy in a few days. These few days never
pass. On the other hand, it is also contrary to the law. Every borrower must
get a copy of refi, good-faith estimate and HUD-1 statements right at the time
of signing the agreement.
Remember
the first document to judge whether your lender has deceived you is your HUD
statement. If you do not have the copy, how are you going to estimate the deal?
Your HUD statement is usually a two page document that contains all of the
information on money. It contains information on how much money you got, how
much money went to the broker and what are extra charges. It explains clearly,
why your HUD statements are such a
crucial document. Another easy to way is to compare your good-faith estimate
and HUD statement. According to Dean Graziosi, if there are differences between
both the documents, then you must dig the matter deeper. If the situations are
too serious, you can always ask for help from state and law.
Where to go for Legal Help:
Sometimes
the trouble is so serious that you must get legal help, following are given
some sources where you can go in case of serious mortgage trouble.
- Website of Americans for Fair Lend
- Neighborhood of Assistance Corporation of America
- Consumer Rescue Fund of National Community Reinvestment Coalition
Join this Page for Regular
Updates:
