Law Library Articles
Top 10 Mortgage Articles in the LegalMatch Law Library
Home ownership is an essential aspect of the American dream. However, many people do not have the cash upfront to buy their home outright. Therefore, it is probably no surprise that more than two-thirds of American homeowners have a mortgage.
A mortgage is a loan in which your house functions as collateral to a lender. The lender gives you a large loan to cover a percentage of the cost of your home, and you then have to pay back the loan, with interest, over a period of time. This usually entails making monthly payments to the lender.
Here are the Top 10 Mortgage Articles from the LegalMatch Law Library:
1. Disputes with a Mortgage Lender
Disputes with a mortgage lender can arise for many reasons. This can include disagreements over the loan balance or the escrow account. A homeowner should first try to resolve the dispute directly with the lender.
2. Mortgage Lender Misconduct in California
California has strong laws to protect borrowers from mortgage lender misconduct. These laws prohibit practices like dual tracking and robo-signing. A homeowner who has been a victim of misconduct can file a lawsuit against the lender.
3. Reverse Mortgage Lawyers
A reverse mortgage allows homeowners over the age of 62 to borrow against the equity in their home. The loan does not have to be repaid until the homeowner sells the house or passes away. These are specialized loans with specific rules and requirements. Read this article to learn more about your legal rights in connection with reverse mortgages.
4. Mortgage Lender Misconduct in Florida
Florida law protects consumers from mortgage lender misconduct. Lenders are not allowed to charge excessive fees or engage in deceptive practices. A borrower who has been harmed by misconduct can file a complaint with the state.
5. Assuming a Mortgage Laws
Assuming a mortgage means that a buyer takes over the seller’s mortgage loan. Most modern mortgages are not assumable. However, there are certain situations, such as a divorce or inheritance, where a mortgage can be assumed.
6. What is Mortgage Loan Fraud?
Mortgage loan fraud involves providing false information on a loan application. This can include lying about your income or using a false identity. Mortgage fraud is a serious crime with severe penalties.
7. Mortgage Lender Misconduct in North Carolina
North Carolina has laws in place to protect borrowers from mortgage lender misconduct. Lenders are prohibited from charging unauthorized fees or mismanaging escrow accounts. A borrower who has a dispute with their lender can file a complaint with the state’s Commissioner of Banks.
8. Home Equity Loan Lawsuit
A home equity loan allows a homeowner to borrow money against the equity in their home. If the homeowner does not repay the loan, the lender can foreclose on the home. Disputes can arise over the terms of the loan or the interest rate. Learn more about home equity lawsuits and what steps you need to take to obtain legal relief.
9. Mortgage Lender Misconduct in Texas
Texas law provides homeowners with protections against mortgage lender misconduct. Lenders are regulated by both the Texas Department of Banking and the Consumer Financial Protection Bureau. A homeowner who has been a victim of misconduct can file a complaint with these agencies.
10. Owner Financing Disputes
Owner financing is when the seller of a property also acts as the lender. Disputes can arise if the buyer fails to make payments or if the seller does not transfer the title to the property. An owner financing agreement should be in writing to avoid these types of problems.
