Today we are reviewing Wells Fargo consumer complaint narrative Complaint ID 1805674 filed with the Consumer Financial Protection Bureau on February 26, 2016. This is an example of a possible loan servicing error involving payment to an escrow account for a FHA mortgage. This narrative shows the nature of a loan servicing problem and the level of…
According to CoreLogic’s National Foreclosure Report New Jersey has a serious mortgage delinquency rate of 7.0% which is more than double the national average of 3.2% New Jersey leads the nation with the highest foreclosure inventory as a percentage of mortgaged homes, as well as the highest rate of serious delinquency, according to the CoreLogic National Foreclosure report for January 2016….
Why is this important? It is the idea that the best defense is to be able to be in control and have an aggressive offensive strategy. This applies to whether you are trying to stop a foreclosure, get a loan modification, or believe that you were subject to fraud. This is why this ruling is…
First Every foreclosure situation is as unique as every person who confronts foreclosure. Second Whatever your desired outcome is when facing foreclosure you’ll need to have a plan. Many homeowners delay in creating an effective strategic plan for their situation, and federal consumer protection laws can impact a desired outcome. Click here to read more on how we fight foreclosure…
What is the NJ foreclosure process? The NJ foreclosure process is guided by the fact that New Jersey is a “judicial foreclosure” state. Click the button below to download the guide and learn more: This means that all foreclosure actions must be prosecuted by attorneys before judges in the court system. This structure is intended to…
Debt collection is big business. According to the Federal Reserve Bank of New York, 15% of consumers have at least one debt in collections. Third party debt collectors are constantly trying to come up with new ways to improve the rate of collections both in volume and in dollars recovered. On December 16, 2015 the…
In Chung v. Shapriro and Denardo, Docket :14-cv-06899-FSH-JBC the District Court of New Jersey sustained the right of a debtor to seek collection of statutory damages for violations of the Fair Debt Collections Practices Act. On November 2nd the Supreme Court will determine whether plaintiffs going forward can enforce Congressionally enacted consumer rights statutes based…
In New Jersey, the trend in foreclosure litigation has been to narrow the defenses available to homeowners almost to the point of non-existence. In light of CFPB Director Richard Cordray’s recent remarks regarding “mandatory pre-dispute arbitration clauses”, Joshua Denbeaux explains how his firm combats this growing problem, by using federal laws enforced by the CFPB…
NJ law firm Denbeaux & Denbeaux says continued mortgage-servicing problems, such as breached loan modification agreements, play a major role in why the state leads the nation in foreclosures, and is the cause for the recent RealtyTrac report which revealed that NJ has highest foreclosure rate in the U.S. New Jersey consumer rights and foreclosure defense…
According to New Jersey law firm Denbeaux and Denbeaux, Congress buckling to pressure from industry lobbyists when recently passing H.R. 3192 the “Homebuyers Assistance Act” to give lenders immunity from loan origination abuses for several months, signals consumer’s rights at risk in the future. WESTWOOD, NEW JERSEY (PRWEB) OCTOBER 13, 2015 On Oct. 7, the House…