Upside Down Mortgage

Posts Tagged ‘Fraud’

Mortgage Fraud Resources

Question: Realtor/Mortgage lender fraud? PLEASE HELP!!?

I had a very bad experience with the mortgage lender and realtor. I believe I got screwed on my house. I'm young, and they knew it. I want to post my story but its too long. Anyways, this has been eating me up for so long, and now i'm ready to take action. Does anybody know of any resources where I can look up illegal/legal lender/realtor practices in TEXAS. I don't need the code of ethics. I need solid law. I'm about to lose my house and this gave me enough courage to move forward. I've googled and looked at so many places and can't find anything. Please help. I have no money or time for legal consultation right now. I'm very depressed. I work 2 ft jobs, have a baby, and cant pay my bills anymore. Please help me!!!

Answer: There is a huge difference between fraud being committed by a Lender or Realtor and a Buyer who didn't have a clue as to what they were doing getting in way over his or her head.

The fact that you are young has nothing to do with anything. There are plenty of young people who research what they are doing before they do it so that they don't enter into a deal that isn't in their best interests.

The Texas AG's Office has a Mortgage Fraud Task Force that you can contact if it indeed was fraud.

Here is a link to the Texas Office of The Consumer Credit Commissioner that lists what is considered predatory lending practice in Texas, along with the Texas Code that addresses the issue:

http://www.occc.state.tx.us/pages/agency/strat05/pred.html

I hope you work things out. Good Luck.

Rocky Delgadillo, Fighting Mortgage Fraud 5

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Mortgage Fraud Attorney

Question: Is this a mortgage Fraud?

I reside in FL, I purchased a house about a year ago in November, before I got the house I got an estimate on my taxes and it was used to create my good faith estimate.
During the closing, I noticed that my PMI has increased but the total payment for the mortgage was less than the good faith estimate, I asked my loan officer about that and she explained something about a lower percentage which led to higher PMI but my overall mortgage was about the same so I believed her.
A year later I discovered there was shortage in my escrow account by $2000 which increased my monthly payment by $200 because the taxes they used was less than the amount on my good faith estimate.
I confronted the lender, who sent me to the loan officer and they blamed the title agency, and the title agency said they entered the value given to them by the loan officer.
At this point, I don’t know if I should get an attorney or report this as a fraud. I really don’t know what to do to resolve this issue.

Answer: I don't beleive the loan officer is to blame. The title company is the one that should be responsible (good luck with that.) The title company will and should not take anything for granted they are the one who has the properties taxation history not he loan officer. I don't think you have a case. Yes, there was and error in the tax amount and it was discovered and charged to you. Unfortunately it was discovered after you purchased the home and you cannot renegotiate your payment without refinancing the whole loan. But I definately would speak to your title reps. manager at the title company and make a formal complaint and also ask for the preliminary title report ( aka prelims) and check out what is documented on the report and you should get your answer.

Mortgage Fraud Attorney, John T. Floyd

Mortgage Fraud Case Law

Facing a home foreclosure is scary and humiliating. This fear can cause immobility to set in and no action ever taken to stop foreclosure. Action is a must if the home is to be saved from bank foreclosure. Knowledge is a must to stop foreclosure.

There are many tips and techniques available to help to stop the foreclosure process. But there is one technique that is of utmost importance to every homeowner.

Now days there is a thing so rampant even the lending institutions are guilty of it. Ready any newspaper almost and you will read of banks going broke and bankers going to jail for committing a little thing called Fraud.

Fraud against who? You, the trusting borrower who believed there are laws to protect you from being taken advantage of. There are, if you can find them and you know someone is defrauding in you. And then you need to prove it.

The records speaks for it self. Banks cannot be trusted. So here are a few ideas to get you to thinking about what may be going on in your own mortgage situation and an angle you may be able to pursue to stop foreclosure on your home.

Remember, fraud vitiates the most solemn of agreements.

Will any of these possibilities fall into the area of fraud? Will any of them help you? You be the judge.

For a contract to be changed it takes the agreement of all parties concerned. That includes the borrower. If the contract has been sold, did the borrower agree to the change of a new mortgagee? If he did not, there may be no contract. Can the contract be reassigned without the borrower's agreement? Therefore, the new contract holder may not have authority or standing to initiate a bank foreclose.

Is it legal for one bank to sell a note, then collect the payments and pass it on? Are they committing a fraud by collecing on a debt already paid?

Is it legal for banks to lend debt or credit? Where in all the laws of this land has it been decreed debt can be loaned? Is not credit debt? Credit is used as a term of being able to borrow. But it is also used as term of debt. When a loan is made what is loaned? Debt is loaned. Your credit (debt) limit is... Nothing of intrinsic value has changed hands in this kind of loan process.

Money was created by moving one set of figures from one column to another. Even if they hand the borrower a stack of bills with the labels of Federal Reserve Note printed on the top of each one, the borrower has only received a pile of debt. Note equals debt.

If you are facing the mortgage foreclosure process arm yourself with all the knowledge you can then take action.

About the Author:

Download the Foreclosure Survival Handbook Here http://www.stop-mortgage-foreclosure-process.com

Get more information about bank foreclosure here 5 Things You Need to Know About Bank Foreclosure

Source - Could the Banks Fraud Put Your Home On the Foreclosure Auction Block?

Miami Florida Attorney - Lawyer Dania Fernandez www.FloridaLawAttorney.com Real Estate Spanish #31