August 31, 2014

Mortgage Fraud

The recent severe decline in property values in South Florida and beyond have led to the largest increase in foreclosure filings in U.S. history.  Since December 2007 to the end of 2010, there was a 735% increase in foreclosures.  Since 2007, more than 3 million homes have been repossessed through foreclosure in the United States and by 2013 it is projected by industry experts at Realty Trac that we will reach 6 million homes lost to foreclosures.

Foreclosure cases in South Florida, for example, increased by 400% from 2007 to 2009.  Many homeowners that see these numbers simply choose to give up their homes without learning if they have any valid basis to defend a foreclosure and without knowing their rights.  In short, the great majority of homeowners give up and raise the white flag before the proccess even starts.

DON’T GIVE UP YOUR HOME WITHOUT KNOWING YOUR RIGHTS.

YOU MAY BE A VICTIM OF MORTGAGE FRAUD!

These are the ten signs that you may have been a victim of mortgage fraud.

  1. Do you have an adjustable rate mortgage, or a pay option ARM?
  2. Did they provide you a written summary of all the costs of your loan prior to closing?
  3. Have your monthly payments increased over time?
  4. Are you unable to pay your mortgage even though your financial condition has not changed?
  5. Does your loan contain a prepayment penalty?
  6. Was your loan approved without any verification of income?
  7. Did the mortgage broker alter your bank statements when the loan was submitted?
  8. Did the mortgage broker include false income in your loan application?
  9. Were you asked to sign blank documents in connection with the closing?
  10. Were you told who the lender and closing agent were going to be?

If you answered “yes” to two or more of the questions above, you may have been a victim of mortgage fraud and it is imperative that you contact and meet with a knowledgeable and experienced attorney who will analyze your case and provide you the best possible options available to you.

The goal of Fight4yourhome.org is to assist all of those homeowners who are at risk of losing their homes to foreclosure.  This website provides important information, recent news, and other valuable insight for those at risk of foreclosure or in the middle of a foreclosure proceeding so that they can do everything possible to save their home.

We invite you to navigate throughout the various sections of this informative, non-profit website, and feel free to contact any of the professionals advertising throughout the site if you need further assistance or guidance.