home equity loan modifications,HAMP,Wells Fargo,HSBC,class action
Under important recent cases in Texas federal courts, there's no statute of limitations on bringing a lawsuit to confirm that a home equity lien has been invalidated by lender misconduct under Tex. Const. Art. 16 Section 50. However, a very recent case indicates that as to the companion penalty under Section 50, forfeiture, there is a four-year statute of limitations. Therefore, if a lender fails to cure a Section 50 defect, it not only loses the lien on a home; it not only loses all future payments from the borrower. It also loses as much as the previous four years of payments, which it must pay back to the borrower! Content may continue . . .