CFPB highlights challenges faced by successor homeowners in assuming mortgages
By EsqSocial Corporation 26/12/24
On December 17, the CFPB released an Issue Spotlight reporting on challenges that homeowners often face with mortgage servicing companies after a divorce or the death of a loved one which may cause them to become homeowners. The report detailed consumer complaints that mortgage servicers often pressure successor homeowners to refinance at higher interest rates, rather than provide the new homeowner options for managing the existing mortgage....
By: Orrick, Herrington & Sutcliffe LLP