loan: What ALL brokers need to know about TILA loan rescission
- 02/28/15 02:36 PM
Hi again, this post provides general legal information that every real estate broker and agent in the United States should be aware of. I will be discussing the recent UNANIMOUS United States Supreme Court decision in the case of Jesinoski v. Countrywide Home Loans If you are the kind of person that likes your information in VIDEO format, click on one of the two pictures posted in this blog to go-to parts 1 and 2 of the video.
Introduction All real estate agents should have at least a general working knowledge of TILA (Truth in Lending Act). After (30 comments)
The problem with the right to reinstate your loan in California 5 business days prior to trustee sale. The California Association of Realtors has put out a nice timeline dealing wiith the foreclosure timelines in California. This handy chart makes clear that a borrower has a legal right to reinstate their mortgage loan 5 business days prior to a trustees sale. Why then are we still getting calls from borrowers that (after being told to stop making their mortgage payments with the false hopes and/or promises of a loan modification) are then refusing to accept the borrower's mortgage payments, (1 comments)