Forcing Lenders to Send Mortgage Statements – Life After Bankruptcy should be swell. But sometimes there are frustrations. Here is one common complaint. The mortgage company won’t send a monthly statement. Let me explain why that is. Then, I’ll show you how to fix it.
There is an automatic bankruptcy stay preventing your lender from billing you
An immediate, automatic restraining order kicks in when you file bankruptcy. It is called the Automatic Stay. The automatic stay prevents anyone from billing you. Even on debts you still want to pay. Like your mortgage. Your mortgage company wants to send you a statement. But they are afraid to. They are afraid somebody will use that as an excuse to sue them. The result is that the mortgage lender stopped sending you monthly statements. They don’t want to get sued. It doesn’t matter if you would never sue them. I guarantee, if not you, then the next guy would. So the result is no mortgage statement in your mailbox.
Forcing Lenders to Send Mortgage Statements
Congress passed the Dodd-Frank Wall Street Reform Act. The Act imposed new rules on mortgage lenders. The Act also gives the Consumer Financial Protection Bureau (CFPB) the power to implement rules. The Bureau can also adopt new rules as needed. (Learn more in Nolo’s article New Federal Rules Protecting Homeowners With Mortgages.) The proceedures are known as the Periodic Statement Rule.
Free Legal Form for Forcing Lenders to Send Mortgage Statements
Here is the link. Click Below to Get Your Free Legal Form.
Click here to get form: Request for Monthly Mortgage Statement