Loan Modification Risks: Understanding Utah’s “Statute of Frauds”

Loan modifications are changes made to an existing loan’s terms beyond the specifications of the original agreement. With mortgages, loan modifications are often used to help homeowners catch up on their obligations and avoid foreclosure. Examples include: Reducing the interest rate Reduce the amount of the principal Extend the terms of the loan Apply a cap to monthly payments Homesaver Read More

Utah Civil Law: An Introduction to the Real Estate Settlement and Procedures Act

The Real Estate Settlement and Procedures Act, or RESPA for short, is a federal law designed to protect aspiring homeowners and enable them to make better, more informed purchasing decisions. It impacts anyone who is buying a home or working in a field involving residential property transactions, such as: Mortgage brokers and lenders Real estate brokers or agents Builders and developers Title Read More

Watershed Truth in Lending Act (“TILA”) Case Handed Down by 10th Circuit in Sanders v. Mountain America et. al.

The 10th Circuit Court of Appeals struck a blow against the gradual erosion by United States District Courts regarding Truth in Lending Act ("TILA") rescission.  The Opinion acknowledges many of the out right ridiculous and illogical decisions made by many U.S. courts that have been nothing more than pocket vetoes of the rescission process by activist judges unwilling to recognize the plain meaning of the TILA Read More