Summary
In NYC, when your mortgage loan is transferred, you are protected under the Real Estate Settlement Procedures Act (RESPA). Both your old and new loan servicers must notify you, and the new servicer must honor the terms of your existing loan. They cannot charge you late fees during the 60-day period following the transfer. For free or low-cost legal help, you can contact the Legal Aid Society, NYC Bar Association’s Legal Referral Service, or LawHelpNY. Check their eligibility requirements for assistance.Full Conversation
I need some advice on a mortgage issue
Hello Jackie, I'd be happy to help with your mortgage issue. To provide more relevant advice, could you please let me know in which state or country you are located?
NYC
Hello Jackie, thanks for providing your location. Could you explain what specific mortgage issue you're encountering in NYC?
Loan transfer
Hello Jackie,
In NYC, you have rights under the Real Estate Settlement Procedures Act (RESPA) when your loan is transferred.
- Your old and new loan servicers must notify you.
- Your new servicer must honor the terms of your existing loan.
- They cannot charge you late fees during the *-day period following the transfer.
If there's an issue, you may want to consult a lawyer.
How can I get a reasonable or free layer
Hello Jackie, in NYC, you can seek free or low-cost legal help through:
- Legal Aid Society
- NYC Bar Association’s Legal Referral Service
- LawHelpNY
Remember to check their eligibility requirements. Would you like their contact details?
Thanks
You're welcome, Jackie! If you have any more questions in the future, feel free to reach out to FreeLawChat. We're here to help.
Okay, thank you.
Hello Jackie,
It seems like the questions and answers you provided are well-structured and informative. If you have any other legal questions or need further clarification on something, feel free to ask. FreeLawChat is here to assist you.
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