Q: I don't think my private mortgage lender was licensed in the state of Maryland, how would I find out and what should I o
The private lender has charged me interest only on a mortgage loan. part of the loan was repayed in Sept 2018 and the balance principal was only supposed to be $7k. The lender and lawyer has been going back and forth with the amount that I owe - from 32k to 9k then to 14k and now I am ready to settle on Thursday it is now up to 11k to the lender and lawyer fee=$6k.
Is there anything I can do about this?
I don't believe the lender is licensed in Maryland.
A:
You can check the registration status of your lender through NMLS (the Nationwide Multistate Licensing System / Nationwide Mortgage Licensing System and Registry). They maintain a consumer oriented website, here:
http://www.nmlsconsumeraccess.org/
Note that not all types of lenders need the same types of licenses.
You may want to contact the Montgomery County Office of Consumer Protection (OCP), as they are the agency responsible for enforcing consumer protection laws in your county:
https://www.montgomerycountymd.gov/ocp/
Lastly, since you tagged foreclosure in your question, you may want to review information the Maryland Department of Labor, Licensing and Regulation (DLLR) has on foreclosures:
http://www.dllr.state.md.us/finance/consumers/mortforeinfo.shtml
Best of luck.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
