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Mortgage Rights

Mortgage Rights

The case, being fought amid what the Mortgage Bankers Association says is the highest level of foreclosures since 1979, is among scores of lawsuits accusing the lightly regulated companies that collect mortgage payments of violating borrowers' rights, a USA TODAY review of court and government records shows.
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Rights Mortgage

I am not sure about that. If you got into a home that you knew you could barely afford with an adjustable rate it is not the fault of the mortgage company in my opinion. I would think more people would be smart enough to know what they could or could not afford and buy accordingly. I guess I was wrong for thinking that. This kind of proves that.

Mortgage Rights History & Civil Business Politics

My experience has been that too many people do not know what they are getting themselves into. They just know they want to own their own home. If they hook up with an unscrupulous real estate agent they can get in over their heads. I have seen it on more than one occasion where people think their realtor knows what is best for them. Another situation that can cause problems is when a couple qualifies for a certain level of mortgage, say $400k, so they buy a home at the top of their price range. Then down the road life happens, perhaps one of them loses their job or inflation skyrockets or whatever. All of a sudden their mortgage is in jeopardy. If they had been a little modest in the purchase and bought a home for less, say around $300k, they would have left some wiggle room for when life got in the way.

Rights Mortgage

Trouble Ahead: Millions of Mortgages Will Ratchet Upward Soon:

"If the equity in your house is gone and your monthly mortgage payment suddenly jumps from $2000 per month to over $3000 per month, what do you think is going to happen? Ref. Source 7

Rights Mortgage

You may have rights, but it all depends on what you signed. Some people may actually sign away their rights to certain things if they are not checking their investment properly. This is why it is always best to get a Real Estate / Mortgage Attorney to give what you are going to sign a look over.