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Financial Disputes

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Financial Disputes

Most financial disputes concerning real estate revolve around mortgages and liens. A mortgage is a legal agreement by which a bank or other creditor lends money at interest in exchange for taking a lien on the debtor’s property, with the condition that the mortgage is cancelled upon the loan being paid off by the debtor.  Mortgages are taken by banks, lenders or creditors, on all types of Michigan properties: rural, residential, commercial and industrial.

Mortgages are secured by a promissory note requiring the debtor to make timely payments to the lender.  Failing to pay timely or to comply with other mortgage provisions such as maintaining insurance or paying property taxes will allow a lender to place a mortgage in default.  The most powerful remedey that a lender has as a remedy to obtain it’s monies back from the debtor is to declare a default and foreclosure on the mortgage.  Michigan foreclosures are either done judicially or by advertisement.

Common problems that create mortgages disputes are:

  • The mortgage loan is sold and the new lender may not properly abide by the terms of the original mortgage;
  • Tax or insurance escrows are miscalculated by the lender, increasing the debtor’s payment unexpectedly, thereby creating a debtor’s financial distress.
  • A change in the debtor’s financial circumstances occurs and the lender refuses to work with the debtor to modify or temporarily adjust payments.

 

David Soble and his team have decades of experience successfully dealing with lenders and creditors and successfully resolving financial issues. Decide for yourself by giving us a call today at  888.419.7013.

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Financial Disputes

Most financial disputes concerning real estate revolve around mortgages and liens. A mortgage is a legal agreement by which a bank or other creditor lends money at interest in exchange for taking a lien on the debtor’s property, with the condition that the mortgage is cancelled upon the loan being paid off by the debtor.  Mortgages are taken by banks, lenders or creditors, on all types of Michigan properties: rural, residential, commercial and industrial.

Mortgages are secured by a promissory note requiring the debtor to make timely payments to the lender.  Failing to pay timely or to comply with other mortgage provisions such as maintaining insurance or paying property taxes will allow a lender to place a mortgage in default.  The most powerful remedey that a lender has as a remedy to obtain it’s monies back from the debtor is to declare a default and foreclosure on the mortgage.  Michigan foreclosures are either done judicially or by advertisement.

Common problems that create mortgages disputes are:
  • The mortgage loan is sold and the new lender may not properly abide by the terms of the original mortgage;
  • Tax or insurance escrows are miscalculated by the lender, increasing the debtor’s payment unexpectedly, thereby creating a debtor’s financial distress.
  • A change in the debtor’s financial circumstances occurs and the lender refuses to work with the debtor to modify or temporarily adjust payments.

David Soble and his team have decades of experience successfully dealing with lenders and creditors and successfully resolving financial issues. Decide for yourself by giving us a call today at  888.789.1715.

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FAQs

Frequently Asked Questions

While it is best to have written agreements between parties, not all agreements need to be in writing.  Lawyers can look to other documents such as emails, texts, letters, or even another party’s performance to establish a legally binding contract. 

That will depend upon the loan documentation and the provisions that were negotiated at the onset of the agreement.  How you will be treated will depend upon  the default provisions of your loan contract.  

Yes, it is always a good possibility to resolve a claim even during litigation.   It is best to reach out to an attorney to set the parameters of the settlement and orchestrate the terms of a mutual release.

Articles About Financial Disputes

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Why Clients Choose Us

Soble Law, led by attorney David Soble, is a boutique law firm based in Michigan, focused on real estate law, probate, and contract litigation. With over 35 years of legal and big corporate banking experience, David Soble and his legal team offer a niche alternative to large national firms to informed clients who value senior-corporate-level counsel, financial and realty-industry insight, and education-forward service. They provide practical legal solutions that protect clients’ property and financial interests. Known for their no-nonsense approach, the firm represents individuals, families, and businesses across Michigan and Ohio, offering clear guidance through complex legal matters.

  • Former Big Bank "Insider"
  • HigHest Peer and Client Ratings
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  • 30 +Years of Legal & Business Experience
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Why Clients Choose Us

Soble Law, led by attorney David Soble, is a boutique law firm based in Michigan, focused on real estate law, probate, and contract litigation. With over 35 years of legal and big corporate banking experience, David Soble and his legal team offer a niche alternative to large national firms to informed clients who value senior-corporate-level counsel, financial and realty-industry insight, and education-forward service. They provide practical legal solutions that protect clients’ property and financial interests. Known for their no-nonsense approach, the firm represents individuals, families, and businesses across Michigan and Ohio, offering clear guidance through complex legal matters.

  • Former Big Bank "Insider"
  • HigHest Peer and Client Ratings
  • 24 Hour Response
  • 30 +Years of Legal & Business Experience
  • Affordable & Approachable
  • Innovative & Creative solutions

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