We borrowed money from our local bank eight months ago to finance our first home. We now are experiencing a serious problem with the bank's handling of our loan. What is our first step?
Your home is the largest investment you will ever make and it is equally important for you to safeguard your rights.
As with most disputes, your best first step is to contact the bank and have a chat with the loan officer to see if there is a way to settle the matter. Depending on the nature of the problem, perhaps it can be easily cleared up. Should that prove impossible, to protect your legal rights, write a formal letter to the bank, describing the problem, and include your loan account number. Send it by registered mail to the complaint address provided at least one a year by law by the bank to you.
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