Difference between revisions of "Chase/Dual tracking"
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Latest revision as of 13:17, 17 February 2023
- Dual-track foreclosure proces or Dual tracking is an illegal process wherein a mortgage lender is requesting documents, and processing a submission for a loan modification – while also pushing the homeowner through the foreclosure process at the same time. This practice has been used by mortgage companies for years, allowing them to trick the homeowner into thinking they will end up with lower monthly payments, but instead they are denied for a modification and left just weeks away from foreclosure with very few options left.[1]
- New Laws Prohibiting Dual Tracking in the Foreclosure, New laws prohibit mortgage servicers from foreclosing on your home while considering your loan modification application.
Notes
- ↑ What is Dual Tracking - Consumer Action Lawgroup
