Why You May Enter Mortgage Litigation
For a borrower, a mortgage is an important undertaking, as it is often the largest monthly expense you will incur. For a lender, you want to make sure the terms of the loan are agreeable to the borrower so that you will receive payments on time and in full. If there are any disputes between these two parties, the case may go to court.
What is Mortgage Litigation?
If a borrower wishes to modify the terms of a loan, but the mortgage bank and the borrower can't come to a mutually beneficial agreement, the case may enter mortgage litigation. This is when lawyers get involved and a judge decides what the terms of the loan will be.
What Happens During Mortgage Litigation
During the litigation, both the borrower and the mortgage bank will have the opportunity to provide evidence that supports their case. The attorneys for each party will typically handle a majority of the workload so that the borrower and mortgage servicer may return to their daily lives, including work and family obligations.
Why You Might Need a Mortgage Expert Witness
Sometimes, an expert witness is called in to court to provide an impartial opinion on a case. They may be asked to explain certain facts such as the process of signing a loan or what a typical modification should look like. They may also be asked for their authoritative opinion on whether or not the proposed modifications are appropriate to the situation.
Contact The Forst Group
If you are looking for an expert witness for your mortgage litigation case, please contact us at The Forst Group today. We can provide information about our services to see how we can best serve you. Please call 913-787-1066 or send us an email online.