Robo-signing lawsuit reinstated/4th says TILA 3 year SOL doesn’t require borrowers to file rescission but just notify creditor

22 May

From: Charles Cox [mailto:charles@bayliving.com]
Sent: Friday, May 18, 2012 9:26 AM
To: Charles Cox
Subject: Robo-signing lawsuit reinstated/4th says TILA 3 year SOL doesn’t require borrowers to file rescission but just notify creditor

Robo-signing lawsuit reinstated

· Winston & Strawn LLP

· May 7 2012

·

On May 3rd, the Fourth Circuit reinstated the homeowners’ Truth in Lending Act ("TILA") and state consumer law claims asserted against the bank holding plaintiffs’ mortgage. The Court holds that TILA’s three-year statute of limitation does not require borrowers to file a claim for rescission to invoke that right. TILA rescission claims are timely if the consumer notifies the creditor within three years.

Charles
Charles Wayne Cox
Email: mailto:Charles
Websites: http://www.NHCwest.com; www.BayLiving.com; and www.ForensicLoanAnalyst.com
1969 Camellia Ave.
Medford, OR 97504-5403
(541) 727-2240 direct
(541) 610-1931 eFax

Paralegal; CA Licensed Real Estate Broker; Forensic Loan Analyst. Litigation Support and Expert Witness Services.

Gilbert.050312.pdf

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One Response to “Robo-signing lawsuit reinstated/4th says TILA 3 year SOL doesn’t require borrowers to file rescission but just notify creditor”

  1. Paula May 24, 2012 at 6:57 pm #

    I have an investment property with Indy Mac One West and they want to acutually up the payment to 3999.00 to cover the back pays. they say this is an internal modification and they don’t normally do it for investment properties. What can I do. The rents are not enough to cover it and I really do not want to loose this property.

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