(c) If a borrower submits a whole software having a first lien loan mod supplied by, otherwise using, brand new borrower’s mortgage servicer, home financing servicer, mortgagee, trustee, recipient, otherwise authorized agent shall maybe not list a notification regarding default otherwise observe off product sales, or perform a good trustee’s marketing, while the complete very first lien loan modification software program is pending. A mortgage servicer, mortgagee, trustee, recipient, or authorized agent will not number a notice out-of default otherwise see away from profit or run a great trustee’s business until any one of the next takes place:

(1) The loan servicer makes an authored determination that debtor are perhaps not entitled to a primary lien loan mod, and you will any notice several months pursuant so you can subdivision (d) keeps ended.

(d) If for example the borrower’s app to own a first lien loan mod are refuted, the brand new debtor will features at least thirty days about big date of the written assertion to focus the latest assertion in order to offer research that home loan servicer’s dedication was a student in error. Continue reading «A common motif throughout Plaintiff’s SAC ‘s the problems and you can wounds of legal costs, emotional stress, and you may bad credit rating»