Mortgage Lender Fraud - Consumers Not the Only Victims

re: Mortgage Lender Fraud - Consumers Not the Only Victims

Shawnda Asby — Mon, 06 Jul 2009 19:33:09 GMT

It is almost 9 years later, and this First Beneficial mess is still haunting me. I bought a mobile home in which they handled the mortgage. The US Department of Treasury has offset my taxes because somebody else is trying to collect on these loans made by First Beneficial. On a $54,000 loan, they have that I owe $109,000+. Who can I call for help? First Beneficial no longer exists, but its spirit lives on to torture the innocent.

re: Mortgage Lender Fraud - Consumers Not the Only Victims

rambo ramjohn — Thu, 11 Jun 2009 17:25:34 GMT

Hi Mortgage fraud and excessive closing costs with excessive junk fee's are taking place every day Rambo

re: Mortgage Lender Fraud - Consumers Not the Only Victims

rambo ramjohn — Thu, 11 Jun 2009 15:11:22 GMT

I am a victim of mortgage fraud by sun trust bank they say one thing but at closing they do something else you have no choice you pay the closing cost and close or you don't pay the closing cost and lose your down payment sun trust bank loan officer Jonathan knew we were in a very very difficult situation and he used that situation against us to charge us a very high closing costs he also was informed that there will be no escrow account but at the closing we had to pay one year property tax of 2,328.81 advance for one year property taxes and plus every month again 211.71in property taxes every month we also have to pay 34.75 a month for hazard insurance when we already paid a full year hazard insurance premium of 417.00 in advance in the closing costs the closing attorney fee's were traditional title services inc\msa 350.00 atorney's fees 450.00 title insurance 732.00 which is to costly and this situation has me frustrated day and night NOW is there any one out there who can contact me about my situation and also lead me to a team/group who will be willing to look at this situation please please contact me at 404-424-4319 because i was told that there are law suit out there against banks who charges ridiculous junk fees plus ridiculous title insurance fee's also MR Ramroooop

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

ande — Sun, 18 May 2008 11:00:00 GMT

I am 1 of 800+ victims of mortgage fraud in Pa. I have read many stories from different states. What I can't find are the sucess stories - those who won their case. Where can I find this info? thanks

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

Mortgage expert — Thu, 17 Apr 2008 11:00:00 GMT

You have done exactly what you should have done. My advice would be to send a letter to the Commissioner of Banks in the state that you are in as well as the Attorney General, and also to the president of the mortgage servicer who has taken over your loan. Going to the top of the company is the only way to get someone's attention in my opinion. If you do not receive results from those actions, I would certainly contact a local television station and get in touch with their consumer advocate, who sometimes can cut through the red tape quicker than an individual. Good luck!

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

DaleC — Fri, 28 Mar 2008 11:00:00 GMT

We have been with Option One mortgage for 3 years. Before the winter months, I have always paid my loan 4 -5 payments ahead so that if the winter was bad I would have my mortgage taken care of. I did this because we work in construction. I have done this since we have had our loan with them. In the winter of 2006-2007, I paid 5 months ahead. Option One put all of the payments in suspense that were made ahead, then in February last year, they sent me a foreclosure letter. We argued about this until May 2007, at which time they recommended doing a loan modification. We agreed to this and they charged us $27,000 to do the loan modification. In October 2007, I paid payments ahead again and they have done the same thing again. The funds went into suspense and I was told I would have to call them and let them know what I wanted done with the funds each month. My cancelled checks state which month the payment is for, so why should I have to call. Now my loan has been transferred to another servicer and Option One has notified them that my loan is in arrears since December, when I have cancelled checks that paid the loan thru February 2008 to Option One. The new company took over on 3/1/2008. When I contacted the state Department of Banking and Finance, after they tried to get a response from Option One for several months, they advised me to get an attorney.

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

Alex — Wed, 10 Oct 2007 11:00:00 GMT

I canceled a commercial loan with a company. They have my processing fee, a good faith deposit, and 3rd party fees. I canceled over two weeks ago and still haven't seen anything from them. I sent my attorney after them, I don't know how much he can do. I was told I can send the FBI after them, how do I do this?

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

dora — Sat, 23 Jun 2007 11:00:00 GMT

Most flips are genuine and what the media reports is blown out of proportion. The RE market is like the stock market, prices rise and fall in some areas quicker than others and in like all the other markets there is room for fraud. most of it is not. The government does not help either because their qualifying standards for lower credit scores are too high or require them to go through dumb and time consuming stuff to qualify. So you blame it on "predatory lending" I think not.

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

Anonymous — Thu, 12 Apr 2007 11:00:00 GMT

I have a friend thats a victom of a rent to own scam. She rented for three years hoping to buy the home in this time period. She was given one call from the mortage company that told her to purchase the house in 30 days or she would have to move out. What can be done about this situation?

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

RFM — Sun, 01 Apr 2007 11:00:00 GMT

A mortgage company (NovaStar) refused to close my refinancing, based on a DTI ratio they claimed was too high. I advised them that they must have made a mistake in the calculation they made. They refused to disclose the basis of the calculation. It now has been determined they in fact manipulated the DTI ratio in order to renege on their refinancing agreement/commitment. Can you direct me to any federal or state (Pennsylvania) statutes that I can use to bring action against them.

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

NS — Wed, 03 Jan 2007 13:00:00 GMT

WHY don't the mortgage bankers join with home buyer advocates, pressured appaisers, etc., to fight for legislation to STOP these fraudulent activities? Instead they honey up with the NAHB, NAR, etc. and seem to love this "creative" financing that has been going on for the last few years. There is no one out there who will do a thing to help the real victims of this fraud, the home owners. The Fed's only get involved due to the bank fraud. Families lose their home & credit.

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

russ — Wed, 29 Nov 2006 13:00:00 GMT

I am getting a divorce. My name is not on the loan but is on the deed and deed of trust. Am I still responible for payments?

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

Danielle Von Tungeln — Sun, 29 Oct 2006 11:00:00 GMT

I can not help but laugh at the line "The Feds don't mess around!". They couldn't care less if their own mother was ripped by what is Institutionalised, Government Approved scams. You have to have been robbed of 50k before they will even answer your call for help. I have found that IRS, in keeping your money, will tell you that you can not write off those gifts HUD told you not to worry. If anyone has done anything to stop this kind of extortion, it was the IRS's pursuit of these nonprofits

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

Stephen G. Bishop — Wed, 11 Oct 2006 11:00:00 GMT

I have been licensed twice as an appraiser in 12 years, and both times gave it up because I couldn't compete without committing fraud. Appraisal licensing is a fraud. It was developed by the real estate industry to oil their wheels.

RE:Mortgage Lender Fraud - Consumers Not the Only Victims

tom — Fri, 08 Sep 2006 11:00:00 GMT

I used to work for Ameriquest.....if the appraiser came in too low with a value...they would drop them from their list like a hot potato..... It's companies like them...that give good honest mortgage companies a bad name.... I was told by management to schedule closings in the evening..not to give out my cell phone.....what a scam.... $12,000 in fees plus 2-3 points on a $150,000 loan