Lender Liability

[funigolf]

What is the name of your state (only U.S. law)? NC
If a Mortgagee is squeaky clean ie makes all payments to the bank on time (continues to have good credit)and his balloon comes due and the bank initiates a foreclosure proceedings Can successful litigation be brought against the bank...how would you prepare for it?

 

[nextwife]

Litigation AGAINST a lender when the borrower has defaulted on the loan agreement by not arranging to have the balloon funds available when they were due?

 

[HUD-1]

Based on the information you have provided, your litigation would not be successful. The lender is merely enforciong the terms of the Note.