Loan Servicing Class Action Lawsuit
If you have been fighting for a chance to keep your home, then it’s time to take the case to the next level with a Litton Loan Servicing Class Action Lawsuit. There is an ongoing dispute in one of the housing markets across the nation. Many homeowners are having difficulty making their monthly payments and many other home owners are in similar situations. One homeowner in particular has taken on a second mortgage to pay for the damage to his home brought about by hurricane Sandy. This man’s home has not been structurally damaged but he has met with unexpected and expensive expenses brought about by the catastrophe.
The lending agencies are in the process of trying to recover some of their losses from this homeowner and are willing to settle the case in hopes of avoiding bankruptcy. The lending agencies have offered to defer the principal, but are unwilling to restructure the loan in order to eliminate the missed payments. This class action lawsuit has been filed by the lawyer of the homeowner who is concerned about losing his house. This is just the first of what could be many class action lawsuits that would be filed in defense of the thousands of other homeowners facing financial difficulties due to the crisis. Some of these cases have already been lost without having an opportunity to go to trial.
In the case of the Litton loan servicing class action lawsuit, if you sign and agree to the terms of a deferred principal re-amortization plan, then the late fees and accrued interest will be rolled into the loan balance at the end of the deferred period. This means that the homeowner will only have one payment to make per month to the lending agency. However, there are limits to the type of case that can be filed and who can file the suit. Only the plaintiff (the one filing the lawsuit) can initiate such a suit.
There is also a possibility that a defense attorney may represent you in your suit. The two types of lawyers who specialize in housing foreclosure cases are John M. Lambros and Robert T. Kuchler. If you do not have the money to hire one of these lawyers, you can still bring the suit against the lender through the legal aid system. There is a legal aid clinic that can handle these types of cases, and some lawyers work on a part-time basis for free.
Some other lawyers in the loan servicing class action lawsuit are Paul J. Currie, and Dennis V. Valentino. Another good resource is the ABA’s website. Many of the cases filed here involve foreclosure by selling the property at a discount. However, the court must determine whether the sale was made under an appropriate contract.
If you would like to file your own lawsuit, the best resource is the law library at your local university. Look up the cases of the Ford Motor Company in the Ford County Courtroom, or check out the Citibank case history on their website. You will also find many other foreclosure cases at the library. The library will also be able to tell you what the odds are that you will win your case, and how much the chances are that your lawyer might actually win the case. If you cannot find any information there, contact a qualified bankruptcy attorney who handles foreclosure cases. They will be able to advise you on filing a complaint in court, and also tell you if a loan servicing company is worth fighting with over your mortgage.