A new defense that has actually been in existence for a long time is to prove predatory lending to stop foreclosure.
Over the last few years, borrowers were plced into loans by banks and mortgage brokers that they can’t afford. Plain and simple. Yes they could afford the loan during the introductory period but as soon as that ARM adjusts as they all do, many borrowers are struggling to afford these new payments. Attempts to refinance are proving unsuccessful because of strict new underwriting guidelines.
There is a good chance that you may be the victim of predatory lending and you may have a case to not only stop foreclosure but to actually have your entire mortgage forgiven and also monetary damages.
In reviewing 30 loans recently, I have found on average of 13 violations on my clients paperwork. Now they can stop foreclosure and are part of a class action lawsuit.
Do you think you may be a victim of predatory lending?
Are you unable to refinance your mortgage?
Were you charged high fees?
Was your appraisal inflated above fair market value by your appraiser?
Was there forgery on your loan that you may not know about by the loan officer?
Were you charged a yield spread premium and didn’t know about it or it wasn’t disclosed properly?
If you answered yes or you don’t know the answers to these questions then you may want to get in contact with me, so I can review your mortgage paperwork free and see if your are a victim of fraud.
Please call 877-266-7020 if you think you’re a victim.
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krimutinok 44 post
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This is a disaster. This should be illegal. I am a victim of predatory lending. My rate adjusted already and is scheduled to adjust again in January. My lender-ASC says that it won’t adjust in January because of the new law that congress passed. Well, it already adjusted. How come the first rate adjustment qualify? My mortgage went from $1364.00 to $2240.20. I would have never agreed to pay $2240.20 as a mortgage payment. Had not congress stepped in my payments would have increased. Well, I am facing foreclosure now because i am four months behind. I am trying to remodify my loan. Has anyone ever heard of NACA? How are they? I am going to fight to keep my home-and not for $2245.20 per month either.
Can a lender foreclose non-judicialy in Virginia without the original note and a lost note affidavit, if no one knows who actually owns the note and if no one in the current lenders office ever saw or handled the note?
this process in Virginia seems to be almost theft, if not unconstitutional, it prevents people from effectively contesting and asserting their rights.
How can MERS be eliminated and defeatedin non judicial foreclosures in Virginia?, there seem to be agreat degree of ignorance about this subject in our Wonderful State, however Floridians cannot run an election but they were able to kick this company out of the state. Grat job Floridians, When are we going to do the same in all other 49 states?