At the law office of Ira J. Metrick, we have defended borrowers against foreclosures from many different Lenders, including BSI Financial Services.
About BSI Financial Services
Headquartered in Irving, Texas, BSI Financial Services is an independent loan services provider that handles all aspects of mortgage loan servicing, including receiving monthly mortgage payments and pursuing foreclosure against homeowners who fall behind.
BSI Financial Services Foreclosure Information
In May 2019, BSI Financial reached a settlement with the Consumer Financial Protection Bureau (CFPB) after the CFPB found that BSI violated several federal laws between 2012 and 2016, including the Truth in Lending Act, the Real Estate Settlement Procedures Act, and the Consumer Financial Protection Act of 2010.
These violations included mishandling mortgage servicing transfers with incomplete or inaccurate loss mitigation information. This led to BSI failing to recognize that certain loans were in the process of receiving a loan modification or had already received a loan modification, and trying to collect inaccurate mortgage payments and threatening foreclosure.
Consumer Affairs features many negative reviews from BSI Financial customers that tell a similar story, with homeowners complaining that their mortgage was transferred to BSI and they subsequently had trouble with inaccurate bills and other issues.
If your mortgage is being serviced by BSI Financial Services and they are falsely claiming missed or inaccurate payments or pursuing foreclosure, contact us today.
What Are Your Rights to a Loan Modification From Your Mortgage Lender or Loan Servicer?
There are powerful new regulations put into effect by the Consumer Finance Protection Bureau (“CFPB”) under the Real Estate Settlement Procedures Act (“RESPA”) and the Truth in Lending Act (“TILA”) that give borrowers the right to sue when mortgage loan servicers fail to meet their servicing obligations. We can sue your lender if they violate these regulations.
Do I Qualify For A Loan Modification?
If you’ve experienced issues that caused missed payments, you must be able to show that you earn enough income in order to pay the mortgage, taxes, and insurance, plus your other normal living expenses. But even then, there is no guarantee that you will qualify for the lender’s modification program. The Law Office of Ira J. Metrick can help you understand the modification process and what to expect.
Will Applying For A Loan Modification Stop A Sheriff Sale?
In many instances, if a complete loan modification application is submitted at least 38 days prior to the Sheriff’s Sale, the lender must adjourn the sale and review the application. They should also provide the right to appeal any decision prior to conducting the sale.
Helpful NJ Foreclosure and Loan Modification Resources
- Foreclosure Defense Overview
- New Jersey Foreclosure Timeline
- New Jersey Sheriff Sale FAQ
- New Jersey Sheriff Sale Timeline
- New Jersey Loan Modification Information
Contact Ira J. Metrick Today to Discuss Your BSI Financial Foreclosure in NJ
If your mortgage is serviced by BSI Financial and your home is facing foreclosure, contact us today. We can discuss your situation and help you defend the foreclosure and determine if you are eligible for a loan modification. We also offer aggressive representation to assist in the loan modification process.
We can ensure that the lender has followed all proper foreclosure procedures and has not violated your rights as a borrower. These violations can include, but are not limited to:
- Pursuing a foreclosure or sheriff sale while your loan modification application is still being reviewed (also known as Dual Tracking).
- Refusing to honor or review your loan modification.
- Not responding to your loan modification application within 30 days.
- Refusing to accept your mortgage payment or mortgage reinstatement.
- Declaring you in default and threatening foreclosure even though you are up to date on your payments.
If any of these or other situations have happened to you, contact the law office of Ira J. Metrick today to discuss your options.