Illegal Mortgage Late Fees

Preston Law Offices is investigating mortgage servicers who charge improper or illegal late fees (or delinquency fees). There are several ways mortgage servicers may charge these fees:

• Servicers delay "posting" or "processing" payments, so that even if your check or electronic payment arrives during the grace period, the servicer does not credit the payment on time.
• Servicers manipulate escrow accounts (typically used to hold and pay money for taxes, insurance premiums, etc.) to inflate the amount due to the escrow account, and then charging late fees on timely payments because the homeowner payments do not cover the increased escrow charge; and
• "Pyramiding" late fees, or charging late fees on timely payments because the payment amount did not cover a prior unpaid late fee (or delinquency fee).

These practices violate state and federal law, and you may be entitled to compensation if you can prove your mortgage servicer charged you an illegal late fee.

For More Information, Contact Preston Law Offices Today

You may be entitled to compensation if you paid or have been charged an illegal late fee on your mortgage. Preston Law Offices will evaluate whether you are eligible to participate in a class action, explain your options, and work to recover any illegal late fees. Since 2009, Preston Law Offices has represented individuals and small businesses in a broad range of class actions, focusing on borrower rights, privacy, and unfair trade practices. Courts have appointed Preston Law Offices as lead class counsel, and Preston Law Offices has obtained recoveries for hundreds of thousands of class members. To learn more, contact us today. We will evaluate your situation to determine whether you have a case.