Preditore Mortgage Company- need advice

[nwschmidt]

I recently came to an agreement with my Mortgage company. They agreed to bring my loan current through my march 25th 2004 payment. They waived all past due payments and late fees. The agreement also included the method to be used to come up with a loan balance we could all agree with.

The mortgage company used the original start date of the loan and recalculated the payments as being made on time through the March 25th 2004 payment.

I agreed to start making payments starting with the April 25th 2004 payment. They also agreed to reflect this recalculation on my credit report. They agreed to show my loan as current. In return I signed a release of all claims document that covers them from any past or future claims.

Here is the kicker. They never did update my credit report. My report shows it was updated but still reflects 120 days past due for each and every month of this year. In addition to that the mortgage company is currently billing me for being two months past due and has also added four late fees.

As of today I'm not even 30 days past due. I'm currently in the process of sending the informatiomn to an attorney in Baltamore who was successful in winning a $650,000.00 fdcpa case against the same mortgage service company that I'm dealing with. I tracked him down because I was aware of the case. I was actually lucky enough to talk to him and he offered to look at the information and stated that if he decided it was a good case he would handle it. The attorney that initially worked on this case for me is no longer available to help me.

I'm currently on my own right now. I'm not sure if the attorney in Baltamore will be able to help me. He is looking for a class action deal and that wouldn't due me much good. I would like to take advantage of this situation and get a better settlement then a one or two thousand dollar fdcpa award.

I've battled with this company for years and realize now It was more than likely a mistake to sign the release. However they have really opened some doors. The release doesn't give them the ability to add unwarrented fees and show past due payments that don't exist. The release just protects them form everything up to the date of release. Both sides agreed to that before the release was signed.

This mortgage company has tried to forclose on me two times in the past three years. The first time I paid them during my 30 day notice period. The second time they messed up and sent out the forclosure to early and my payment had already been mailed. That mistake is the one that lead to our most recent agreement.

Do you think it would be worth a try to send an email to the attorney for the Mortgage company. Inform him about the violations and tell him that I have already had a chat with the same attorney that won the fdcpa case against his client and I'm in the process of sending him some information .

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[calawyer]

I would give the attorney a deadline to act on your behalf or you will go it alone.

If you have to do so, pull out the agreement and quote the portions they have violated. If you have to sue, remember that you may have a claim for breach of contract in addition to any stautory claims you may have.

As a pointer to others that may end up in this same position, I think it is a good idea to get a "liquidated damages provision" in a settlement agreement with creditors or CRAs. This would provide for a fixed amount of damages if the creditor or CRA does not report as they have agreed in the settlement. Make sure the amount is high enough to compensate you for any anticipated damages from credit denial that would result from continued inaccurate reporting. If you search this site, you will find a discussion I had with Xan on this topic several months ago.

Good luck.