Georgia Lawyer's Strategy on "Bond" Requirement Has Merit

I am a lawyer in Georgia and it has been my experience in Georgia the lender will move the court to modify the rescission procedure by having you tender the money into the court registry (15 USC 1635(b)) within a specified amount of time., usually 6 months. The mortgage will only be removed after this has occurred. I have never seen this request denied in Georgia. Therefore I usually recommend to my clients that they tender the property instead of the monies. This means, if successful, you will get all your money back you have paid toward the loan including closing costs. Now as I stated I practice in Georgia and we have controlling case law that our courts here are bound by, this may or may not be the case in California. Good luck with your fight and remember to never give up! A successful TILA lawsuit can give your family the money for a new start while putting the foreclosure behind you.

David C. Ates Esq.

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, Mortgage, rescission, securitization, TILA audit
Posted in Eviction, Modification, securities fraud |