Texas Attorney General’s Office Freezes Foreclosures
Waco, TX – The Texas Attorney General's office called for a statewide freeze on foreclosures yesterday, sending 30 loan service companies in Texas suspension notices. According to the Attorney General’s office, these companies may have filed foreclosure documents with records attached that did not correctly reflect loan payments, charges and advances, among other issues. The freeze affects all foreclosures, all sales of previously foreclosed properties and all evictions of consumers living in previously foreclosed homes.
The Texas Comptroller’s Office reports over 14,000 foreclosure filings were made in Texas in August 2010. For homeowners involved with a loan service company suspended by the Attorney General’s office, BBB recommends to do the following:
· Call your bank or loan provider immediately. Because every foreclosure case is different, contact your financial institution to see what steps you need to take. The Attorney General’s office has asked each company to provide a review of their processes which could change the details of your situation.
· Review all details in your mortgage agreement and payment history. Homeowners should be proactively review the terms and conditions of their loan and cross-reference the details with their payment history. Any additional fees, charges or otherwise suspicious deductions should be taken seriously and addressed directly with your loan provider.
· Report possible inaccuracies. Inform your loan provider directly about any potential errors. Homeowners who remain dissatisfied should contact BBB or the Texas Attorney General’s office for help.
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