Were You Charged Excessive Fees After Defaulting on Your Mortgage Loan?

October 11, 2013

Important Information

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At A Glance

This Alert Affects
Homeowners who fell behind on their mortgage payments and had their account enter 'default' or 'delinquent' status.
Damages
It has been alleged that certain banks and mortgage servicers have been charging excessive fees when a borrower defaults on their mortgage loan or has their account considered delinquent. It has been alleged that, for some consumers, these excessive fees have forced them into foreclosure and caused damage to their credit scores.
Company(ies)
Banks and mortgage servicers
Additional Details
Certain banks and mortgage lenders are allegedly marking up the fees charged by vendors for performing default-related services by 100% or more. Default-related services may include property inspections, property preservation costs, appraisal costs and attorney fees.