Consumer protection bureau opens mortgage complaint hotline

December 11, 2011 Off By administrator

Consumer protection bureau opens mortgage complaint hotline
News from Los Angeles Times:

Reporting from Washington—

Got a beef with your mortgage lender? Is your bank unresponsive when you complain that your escrow account is fouled up and making your monthly payments needlessly high?

Did your loan officer switch you into a more costly home loan than you were promised? Or worse yet, did your home loan servicer ignore you when you told him you’ve had an unexpected drop in income and needed a modification to avoid missing payments?

If any of these situations sound familiar, here’s a heads-up about the newest and least-publicized source of federal help: the Consumer Financial Protection Bureau’s home mortgage complaint and dispute resolution hotline. Never heard of it? That’s not surprising since it went live only Dec. 1 and the bureau hasn’t said much about it, preferring to ease into the potential snake pit of mortgage issues that American consumers have with their lenders rather than get overwhelmed.

The complaint hotline is access…………… continues on Los Angeles Times

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