Once homeowners purchase a property, they enter into a 30-year relationship with an entity known as a loan servicer. Certain loan administration practices have undergone scrutiny that resulted in stiff administrative penalties such as failure to apply payments immediately after receipt, resulting in late payment penalties to borrowers. Discover what you can do if you happen to fall victim to a nefarious loan servicer. This web site flippingfrenzy.com describes several actual case studies of this type of real estate fraud and advises homeowners on illegal and unethical loan servicing practices.
Loan Servicers: Good and Bad
The role of the loan servicer
Fraudulent loan servicing practices
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