Can a borrower be forced into a loan modification?

We tried to get a loan modification from our mortgage company when my husband lost his job. Finally after 4 years, they offered us a loan mod. We couldn’t accept the terms of the agreement and declined the offer. I just found out they put us in the program and loan mod anyway. We signed nothing to give them the go ahead. Can they do this? What is our recourse? By the way, we never paid any less money to them; our payment remained the same.

Asked on November 13, 2012 under Real Estate Law, Michigan

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country, one cannot be forced into a loan modifaction program with respect to a given loan on the presumed house that you are writing about. I suggest that you consult with a consumer law attorney to assist you with the matter you have written about.


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