Having Trouble with your Mortgage Lender?

Has it taken an extremely long amount of time to refinance, to close, or just get a response from your lender? There is a new place where borrowers can file a complaint that many may not know about.

The Consumer Financial Protection Bureau “began accepting such complaints this month.” One of the aims of the Consumer Financial Protection Bureau is to “protect consumers from risky loans” and to accomplish the task it looks for “violations of mortgage laws and other issues.” You can also turn to such places as the Better Business Bureau, any number of government agencies, state banking departments, and many others. There are also ways you can try to avoid having problems with your lender.

One way is to do your homework. Know whom the lenders are by talking to them, asking for detailed information, talk to people in the industry, or look for reviews. One person within the industry says to ask a loan officer for their cell phone number because if they refuse, it “could mean that he or she may not be readily available through the process.” Doing your homework before you get a loan can help you save time, money, and unnecessary stress in the long run. A Florida attorney, such as attorneys at Boyer Law Firm, can also help you review these documents for technicalities that are normally missed.

Information for this article was obtained from http://www.nytimes.com/2012/01/29/realestate/mortgages-on-troubleshooting.html?_r=2.

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