There are many
fraudulent mortgage loans in
California
.
How
can you detect fraud?
How can you detect errors?
How can you go after your lenders?
How this will help you?
Learn your
rights and detect fraud inside your loan documents to prevent foreclosure
In
the past 5 years many lenders entertained illegal activities in their loan
operations. Today people have noticed these errors while struggling to make
payments for their home. There are so many ways to detect these errors, but
most of us can not do it our selves. Who can? Sub-prime lenders are the main
cause for this mess. So if you borrowed from a sub-prime lender, then you need
to review your documents more carefully. Detect fraud and stop foreclosure.
Ways
to find errors:
1.
Check if some intentionally blank spaces in your loan document and
especially in your note were later filled with sentences that do not exist in
your copies.
- Loan has been purchased by another financial
institution and errors made during transfer
- Index used by your bank or lender was based on
an index that its merits are doubtful and not used by other lenders.
- Blank spaces left intentionally to fill out
later
Try
to find such errors by yourself first. Than get the assistance of a motivated
lawyer or loan officer to find such errors for you. If you received notice of default
(nod), take it with you. Nod explains the reasons for sending the notice. See
if any of such reasons is based on an error in the loan document.
Truth
in Lending (Regulation Z) is a lengthy document but it is in plain English that
you can understand. Evaluate your loan documents after reviewing Regulation Z
and discuss your findings with your lawyer and lender. You may have a great
leverage if you find one.
Detect fraudulent
loans documents to save your home from foreclosure!
Discover typical errors in your mortgage loan
documents and delay foreclosure first
Adjustable
Rate Mortgage (ARM) loans have been subject to more unfair practices and abused
a lot by some lenders.
If
the error that you find has been made in all loan documents in general, then
you have a company of thousands of borrowers for a class action suit to stop
foreclosure of your home.
Violations of
Truth in Lending Regulations that may invalidate foreclosure
- Your lender collected property taxes,
insurance premiums, and interest more than allowed by law
- Your lender collected fees for illegal
kickbacks paid to predatory mortgage broker
- Your Adjustable Mortgage Mortgage (ARM) was
adjusted in a manner to force you to pay more than you are supposed to pay
- Fees that are not disclosed to you
- Your cost of loan include charges that are not
in disclosure statement
- Your ARM lender did not give you the booklet
titled Consumer Handbook on Adjustable Rate Mortgage
Any irregularity
can prevent foreclosure of your home.
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