Long Island Bankruptcy Attorney
Bankruptcy Offices throughout Long Island, New York
Long Island Bankruptcy Lawyer Law Firm Overview Attorney Profiles Bankruptcy Evaluation Form Contact Us
Bankruptcy Practice Areas
Long Island Bankruptcy
Alternatives to Bankruptcy
Bankruptcy Exemptions
Bankruptcy FAQs
Bankruptcy Law
Bankruptcy Overview
Consolidate Your Bills
Creditor Harassment
Debt Consolidation vs Settlement
Discharging Debt
Eliminate Your Bills
Filing Jointly
Foreclosure
Freezes On Your Bank Accounts
Is Filing Bankruptcy Right For Me?
Life After Bankruptcy
Loan Modification
Repossession
Tax Debt & Bankruptcy
The Jacoby and Jacoby Difference
The Means Test
Top Bankruptcy Myths
Types of Bankruptcy
Wage Garnishments
Why Hire a Bankruptcy Attorney
Your Bankruptcy Consultation
Bankruptcy Blog
Bankruptcy Videos
En Espanol
Bankruptcy Law

Class Action Lawsuit Filed Over Loan Modification Denials

In New Jersey, a class action lawsuit was recently filed against CitiMortgage on behalf of homeowners in the state who were denied mortgage loan modifications. The lawsuit alleged that the lender wrongfully denied modifications to borrowers, while at the same time accepting funds from a federal anti-foreclosure initiative that was meant to help borrowers avoid foreclosure.

The suit alleges that CitiMortgage denied permanent mortgage loan modifications to specific borrowers who had qualified and made trial payments under the Home Affordable Modification Program (HAMP). The lawsuit claims that the lender accepted billions of dollars from the government's Trouble Asset Relief Fund (TARP), intended to help at-risk borrowers avoid foreclosure, and that the receipt of these funds means that CitiMortgage was contractually obligated to modify loans for homeowners who qualify under HAMP guidelines.

The lawsuit claims that the lender has delayed or denied approving loan modifications for at-risk homeowners who had qualified under HAMP guidelines, thus depriving them of the federal assistance that could have saved them from foreclosure. The suit also claims that CitiMortgage denied modifications while reaping the financial benefits of participating in the federal program, not to mention the higher interest rates and fees collected for these home loans.

Jacoby & Jacoby is a law firm committed to helping borrowers and homeowners throughout Long Island with their debt-related needs. Whether you are facing foreclosure or are considering bankruptcy or another form of debt relief, the firm can offer you the experienced counsel you need.

Contact a Long Island foreclosure lawyer at the firm today.

Comments

No Comments Posted
Click Here to watch our Bankruptcy Videos
Fill out the form below to email our law firm.
Leave feedback about our services here.
Bankruptcy Law Visit us on Facebook Follow us on Twitter
Bankruptcy Law
Long Island Bankruptcy Lawyer | Contact Us | Site Map | Privacy Policy

Attorney Web Design

We are a qualified debt relief agency. This is Attorney Advertising. The information on this website is for general information purposes only. Nothing on this or associated pages should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.