What are my rights if I am denied a loan modification?

If you have been denied a loan modification in California, you have certain rights. Your first right is to request a rehearing. A rehearing allows you to provide additional information to the lender that they may not have considered previously. Your second right is to file a lawsuit against the lender or mortgage servicer. In a foreclosure defense lawsuit, you can challenge the legality of the foreclosure and argue that the lender or servicer violated the law by denying your loan modification. You may also be able to argue that the loan terms were unfair or that the lender did not follow the proper procedures when denying your modification. You may also be able to seek relief through the California Homeowner Bill of Rights. This law grants you certain rights when you are facing foreclosure. For example, it prohibits lenders from filing a Notice of Default until after they have evaluated you for a loan modification. It also requires lenders to provide you with a single point of contact who can answer your questions and help you understand your options. Finally, you may be able to work with a third-party such as a housing counselor or attorney to assist you in obtaining a loan modification. They may be able to provide additional information or create a loan modification plan that meets your lender’s requirements. No matter what option you choose, it is important to understand your rights and take action as soon as possible to protect your home.

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What are my rights if I am denied a loan modification?

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