Rights of Consumers?
In trying to complete a short sale, I have found very little information as to the "rights" or laws concerning the consumer side of the mortgage industry.
If this information is available, I'd love to know where. (Especially if the info isn't written in legalese.)
My most recent quest is for the Investor contact information on this short sale. WF has denied me access to that info. Is this legal? Do I have any right to the information?
It seems to me, Mortgage Insurance is a bit of a scam. Is the lender "required" to file a claim with the MI in the event of a short sale? Even if it is not a stipulation of the Investor?
The MI is requiring me to be 60 days behind in payments... WF will not accept the short sale without this stipulation fulfilled. This seems a lot like blackmail. (Or am I being a drama queen?) By the time I would be considered 60 days late, I will have missed 120 days of payments. Four months??? That would then force me into a foreclosure situation. Again, blackmail, imho. Even then there is no guarantee they would accept the short sale.
I know I am very naive about how all this works, but trying to learn and find resources to study are few and far between. This site has been a God-send... Any further assistance is greatly appreciated.
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