Foreclosure Rescue & Loan Modification Scams
If you have been the victim of predatory lending and are facing foreclosure as a result, I can protect your rights under state and/or federal law to help you take the legal recourse which is your right.
How I Can Help
Do you have a mortgage? Did you recently refinance? Are you facing foreclosure because you could not keep up with high-interest rates and service fees? If so, your foreclosure might not be your fault, and I might be able to help. Please bring me the mortgage refinancing papers you received just as you got them at the closing.
There are a number of different laws in place to make sure lenders do not take advantage of borrowers who do not understand their rights, including:
- Truth in Lending Act
- Real Estate Settlement Procedures Act (RESPA)
- Home Owner's Equity Protection Act (HOEPA)
Using these laws, I may be able to help you keep your home from getting foreclosed, renegotiate a mortgage agreement and even recover money that was taken from you in the form of unfair interest.
My primary concern will be addressing your unique concerns and financial situation in such a way as to achieve the result you are looking to achieve in terms of your foreclosure defense. In some cases, this may mean a short sale, where you actually let go of the property but keep a foreclosure off your record. Other times, I can seek all available options to help you keep your home.
Foreclosure Rescue Scams
It is unfortunate that certain unethical businesses and individuals would choose to strike a homeowner when he or she is most vulnerable - in the face of foreclosure. When served a notice of foreclosure, some homeowners may become desperate and may be deceived into working with a company or individual who promises to "rescue" them from foreclosure. Foreclosure rescue and loan modification scams are sweeping the country and homeowners need someone they can trust.
Foreclosure scams target those who are already suffering from overwhelming debt, who are facing foreclosure. After offering to save a home, some scammers then turn around and steal the home from the person they promised to assist. Others may collect numerous large fees for "services" which were actually never provided. Following are the three main forms of foreclosure rescue scams I see today:
- Bait and Switch: This particularly heinous scam involves a homeowner being tricked into signing away his or her home, while the scammer says that he or she is signing loan documents that will solve everything.
- Bailout: A "bailout" scheme typically involves offering a homeowner a way to get rid of the home - for the time being. The scammer may buy the home from the homeowner and say that they will rent the property until the homeowner can buy the property back, but the end result is that the homeowner is never able to buy back the property and that the scammer gets all the equity in the property.
- Phantom Help: A person or company offers services to help with basic phone calls and paperwork which the homeowner could have completed him or herself, charging exorbitant fees and often actually achieving no result in order to stop foreclosure from occurring.
I can help. If you or someone you know has been victimized by a foreclosure rescue scam or loan modification scam, I can represent your interests and protect your rights as a consumer as I seek compensation for your losses.