Is the use of Consumer Protection statutes another form of mortgage elimination?
Yes. The difference is the emphasis and focus. We want to make sure that the consumer is not the victim of predatory lending practices. If the lender did engage in predatory lending, and the loan is a refinance, home repair, and home equity loan, the consumer can often cause the lender to rescind (or cancel) the loan entirely. If lenders break specific consumer protection laws, the lender must stop collecting payments, and re-convey the deed to the borrower. Often the lender must also pay money to the borrower (monetary damages) Mortgage elimination programs try to get rid of the mortgage using some device. Each program attempts to do this differently. Many attack the fraud of how the loan originated while others utilize some sort of redemption or discharge process to redeem the note and ask for re-conveyance of the deed. Our focus is to make sure that lenders follow the laws that apply to every loan. A primary difference between TILA and other programs is, we use black letter law and
