Are You Stuck in Foreclosure Due to Mortgage Fraud?

So a couple years ago you got your mortgage.  The realtor worked with you in a professional manner and assured you that your house was valued at a certain amount.  You didn’t know that you were about to be the next victim of a widespread crime - Mortgage Fraud

Jana and Keith moved into their beautiful new home in Los Angeles, California.  They felt certain all was well until the housing market starting slipping.  Then Jana lost her job and Keith got laid off.  Four months without work left them financially stressed and emotionally exhausted.  What do they do now?

Then there was really great news.  Keith got a new job.  But, then  complications.  Out of the clear blue sky with absolutely no warning, they got a letter from the bank.

Would you believe it? The bank wanted to foreclose on the property and were giving them 30 days notice.  Their first thoughts were “This can’t be for real!”  But it was.

Keith was so sure this wouldn’t happen.  He had called the bank and explained their situation.  They promisesd him that they would not foreclose.  They assured him that they will work with him until he and his wife could get back on their feet.

Now suddenly the bank went back on their word and were threatening to foreclose on the house.  This young couple just didn’t know where to turn until they did some more digging and found out they were the victims of Mortgage Fraud.

As the housing market value was declining and foreclosures were popping up everywhere, they discovered that their house was not worth nearly what they thought it was worth.  Somebody had inflated the value of the house.

What made matters worse is they paid $100,000.00 more than what their house was really worth.  What in the world happened and how did they get away with this scheme?  And why was the bank in such a hurry to foreclose?

These and many other questions loomed.  They needed the help of some professionals in the field of real estate and mortgages to help them straighten out the financial mess they were in.   They needed help getting out of foreclosure.

But who could they find to help in such a dire situation?  The bank was threatening to foreclose because their mortgage was in arrears.  Suddenly they also raised the required payment amount to almost double what they were initially paying.  But the bank had never notified them.

Jana and Keith were never told that the kind of mortgage they qualified for on the property was an adjustable rate mortgage that would go up after only a few months of living in the house.

Furthermore, it seemed clear that somebody must have known that the house was not really worth what they initially bought it for.  But everybody kept their mouth shut.

Unfortunately they were the victims of mortgage fraud.  Unfortunately in this sliding economy many are simply trying to make a quick buck.  The method they choose requires them to take advantage of an unsuspecting buyer through a Fraudulent Mortgage Scheme.

So what can be done if this is your situation?  What method or approach can you use to get out of a mortgage that has been acquired based on a false or inflated value?  Well let me suggest that the best way to handel this is to first understand your rights.  I believe you can learn the foreclosure process.

If you are a victim of so called Mortgage Fraud caused by the practices of unfair and unscrupulous lenders, I encourage you to consult with  someone who is qualified and experienced.  Though you may have a strong case against your lender, it is often difficult to fight such cases on your own.

Many borrowers are finding relief in the wake of this sub-prime mortgage crisis by understanding and using the Truth In Lending Act.  This Act requires a lender to make full and conspicuous disclosure of all aspects of a credit transaction.  Furthermore it holds the lender liable if this is not done.

The Truth In Lending Act is designed to protect the consumer.  In many cases a borrower’s mortgage may become unsecured if there is sufficient proof that there was a Truth In Lending Act Violation.

If you feel you are the victim of mortgage fraud and you want to seek help I recommend you connect with one of our Loan Negotiators.  They have a team of highly skilled professionals who are knowledgeable and caring enough to understand and help.  They are also able to arrange other kinds of Loan Modifications.

Just click on the Loan Negotiator Link at the top right hand corner of this blog, fill out the short form and you will be connected to a Foreclosure Doctor Online Specialist who can help you.

We here at the Foreclosure Doctor Online specialize in providing a professional, thorough and complete service to all of our clients.

The Foreclosure Doctor (Online)