Law Offices of Dennis Rasmussen

https://www.wbur.org///08/27/mortgage-refinancing-fee-fhfa

Hmm. Except one of my very deserving clients today got turned down flat by Mr. Cooper for no apparent reason. Always best to read the fine print. And where are the other lenders? Where is Ocwen, Shellpoint, New Rez to name a few? There will always be outliers who give lip service to helping borrowers. There is still time for them to come on board.

We've seen this particular movie before. Twelve years ago. Here's a given. If your lender is hurting, don't assume they won't pass that hurt along to you. Some lenders are rolling the three months into the back of the loan,; some are requiring homeowners to prove they've suffered a hardship. Others will require a lump sum when the economy reopens. Check with your lender as to how they expect you to make up the arrears and get the name and Employee ID number of the person you talk to.

This isn't the only PACE scam. Homeowners beware. The latest nightmare is that the PACE lenders attach the loans to the property taxes. Homeowners who have taxes impounded suddenly see their escrow accounts skyrocket, their mortgage payments double and the homeowner is pushed into foreclosure. Legislation is needed NOW!

Know this company well.