If I sue my lender over the loss of my home and lose, would I have to pay the lender’s attorney’s fees?

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If I sue my lender over the loss of my home and lose, would I have to pay the lender’s attorney’s fees?

Our home loan modification was denied because the loan servicing company miscalculated our income. Our home is now an REO and we are trying to get it back.

Asked on May 5, 2011 under Real Estate Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Unfortunately, it is highly unlikely that you could do this. There is no right to a loan modifcation, and there is no guarantee of getting one; similarly, a lender is under no obligation to modify a loan. Given all this, it is almost impossible to establish a cause of action based on the failure to receive a loan modification for any reason; you can't prove that you absolutely would have received it, given how discretionary it is a and the fact that lender's don't have to modify at all. The reason you lost you home is that you (presumbably) defaulted on a mortgage; since that is the causal reason as well, you would not have recourse against others--you cannot hold others liable for your inability or failure to honor your loan obligations or committments.


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