Posted on: 14th May, 2010 03:19 pm
in 2008 i had fallen behind on my mortgage payments,by about three months. when i went to the bank with the payments they did not allow me to make the payments. instead i was given a number to call. when i called they informed me that a foreclosure was in process. then they gave me only one option and that was a "loan modifacation" i was afraid of losing my house so i was willing to do what it was going to take. now looking back at the records and the process i see that they added near 10,000 dollars on to my principal. This seems outrageous! my loan is now upside down and to try and talk to anyone person with the lending outfit is impossible. i want to know if there is any legal action for me or what steps i can take to rectify this rape!
Your defaulted loan amounts along with the late fees were added to your principle amount. This is quite legal for the lender to do. I don't think you would be able to take legal actions against your lender in this regard. However, you can always have a word with your attorney and take his opinion in this matter.