Mortgage Law, Fraud & Loan Modification
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Mortgage Law, Fraud & Loan Modification
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Mortgage Law, Fraud & Loan Modification

The mortgage industry has been under heavy scrutiny in recent years, thanks to questionable lending practices and other issues. When the so-called mortgage bubble burst, mortgage fraud and other troubles didn't just go away. Every day, thousands of people are cheated out of money through questionable loan modification programs and other forms of false assistance. Much of the time, these underhanded programs' sub-prime interest rates, exorbitant and unnecessary fees propel a borrower into even deeper debt. Are you at risk? The answer may surprise you.

Traditional Targets Of Mortgage Loan Fraud

People from all walks of life can be taken for a ride by an unscrupulous lender. Here are a few groups of people who commonly attract fraudulent interest rate and real estate-related loan scenarios:

  • Senior Citizens: Sadly, the oldest among us are often targeted by brokers who want to take advantage of them--and gain access to their life savings. Prior to engaging in any type of real estate transaction, elderly persons are advised to seek the assistance of a licensed mortgage fraud attorney. Going it alone is a surefire way to get scammed during a real estate transaction.
  • Lower Income Families: Low income individuals and families are more susceptible to mortgage and home loan fraud because they have fewer options at their disposal. Many times, people feel backed into a corner and are desperate to receive financing--regardless of the details. Skilled loan modification lawyers are available to assist such people and protect their rights.
  • People With Poor Credit: Those who have poor credit are a frequent target of underhanded brokers. If you are looking for a mortgage or for a loan modification, bring a qualified mortgage modification attorney on board to ensure you aren't duped out of a substantial amount of money.

If You're the Victim of Loan Modification Fraud

Mortgage modification fraud comes in many shapes and forms. Some con men simply make big promises, collect an up-front fee and then disappear. Others may try to charge for services that are available for free through the government or your lender. Still others criminals may try to convince you to transfer your home's title to them with a promise to lease it back to you or sell it back to you once you can afford to make the mortgage payments.

If you think you may be a victim of loan modification fraud, contact a mortgage modification lawyer as soon as possible. Depending on the specific circumstances of the scam, your lawyer may be able to help you recover your money or regain ownership of your home.

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