What is the name of your state (only U.S. law)? MN
I was the victim of mortgage fraud in 2005 when a agent of a now bankrupt mortgage lending company forged my name, my wife's name and my father/mother (who has a lien on the house) on closing papers and checks to the agents self. Some months later I was contacted by the State's Attorney who said I should wait until they caught the guy but should pursue litigation. Anyways the agent was indicted and is about to be sentenced.
We filed a lawsuit against our current mortgage company (who the loan was sold to after 2005) for violation of Truth in Lending Act since the title company did not check to see if the loan was clear. The indicted agent has already admitted to wrongdoing to us and has multiple such incidents.
However our monthly payments have risen to like 13% (we have an ARM from the original loan) and its become difficult to pay. Since we filed a lawsuit a few months ago, we have not recieved a monthly payment for the interest on the loan. So we are worried that our house might be going into foreclorsure. But since we are trying to rescind the original loan aren't we still suppose to take care of the monthlys?
I was the victim of mortgage fraud in 2005 when a agent of a now bankrupt mortgage lending company forged my name, my wife's name and my father/mother (who has a lien on the house) on closing papers and checks to the agents self. Some months later I was contacted by the State's Attorney who said I should wait until they caught the guy but should pursue litigation. Anyways the agent was indicted and is about to be sentenced.
We filed a lawsuit against our current mortgage company (who the loan was sold to after 2005) for violation of Truth in Lending Act since the title company did not check to see if the loan was clear. The indicted agent has already admitted to wrongdoing to us and has multiple such incidents.
However our monthly payments have risen to like 13% (we have an ARM from the original loan) and its become difficult to pay. Since we filed a lawsuit a few months ago, we have not recieved a monthly payment for the interest on the loan. So we are worried that our house might be going into foreclorsure. But since we are trying to rescind the original loan aren't we still suppose to take care of the monthlys?