Falling behind on your mortgage payments can often lead to foreclosure proceedings. An unsuspecting homeowner can become a victim of foreclosure scams in an effort to prevent the loss of their home. When a lender files a foreclosure notice, it is published in the local newspaper. Unethical companies will peruse these listings and start making calls and sending letters to the financially troubled homeowner.
There are various types of fraudulent schemes that, if acted on, can worsen your financial situation. Types of scams include:
- Identity theft - an individual or company will pose as a legitimate lender and offer a low interest mortgage for the purposes of stealing your personal and financial information.
- Financing Scams - A lender refinances your house in order to reduce your mortgage payment. Most of what you end up paying each month goes toward the interest on the loan. At the end of the loan agreement, you are required to come up with the money for a large portion of the principal - also called a balloon payment. If you do not make this payment, you lose your home.
- Equity Stripping - a lender will convince you to falsify your income on a loan application, stating that your income is higher than it actually is. When you run into trouble making your mortgage payments, the mortgage broker will foreclose on your property, stripping you of your equity.
- Hidden Refinancing Costs & Terms - You refinance your home unaware of the fact that you have also turned over the title of your house to the lender for significantly less then it is actually worth. There can also be costly penalties and fees hidden within the agreement.
The Holland Law Group can help prevent foreclosure scams and give you reliable legal advice on how to resolve your mortgage problems. We have represented hundreds of clients over the years, and will act quickly to achieve the best possible resolution to your situation.
Are you in danger of losing your home?
Our firm is highly skilled in foreclosure law and will fight to protect your assets. We will conduct a thorough review of your finances and mortgage agreement, and develop a sound foreclosure defense strategy. We have experience helping clients improve their financial condition, and will confidently represent you in any foreclosure matter.
Do not hesitate another day, click here to schedule a free consultation or call us today @ 941-306-3601