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Subprime lender selling mortgage

  • 19-03-2018 5:37pm
    #1
    Olderthefiddle
    Registered Users Posts: 1 ✭


    i was with a subprime lender who over charged me i was in the redress program and they sold it on to a vulture fund when i goggled the vulture fund they stated they were buying the loans of the subprime lender but not those that had been over charged do i have any legal leg over this


Comments

  • #2
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    Moved to Banking & Insurance & Pensions. Thread title changed to be less sensationalist and more accurately reflect the question

    dudara


  • #3
    Bikerman2019
    Closed Accounts Posts: 992 ✭✭✭Bikerman2019


    Phishnet wrote: »
    This is a complicated question. If the contractual provision in the loan contract allows your loan to be sold, then it can be sold. However, in most purchase sale agreements between a bank and a vulture fund there would be negative covenants within the deed that may prevent such a loan facility being sold to them.

    My advice would be to contact the vulture fund and outline what has occurred (make sure you have all proofs necessary and to hand to back up your assertions). It will be for them to decide what to do. By the way which sub prime lender were you originally with?


    Did you cop this is from early 2018?


This discussion has been closed.
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