It’s probably too wonderful to be true if it sounds too good to be true. Never sign a blank or partially filled-in document, which leaves you exposed to fraud. If you don’t comprehend something, don’t sign it.
Theft of a Mortgage
Mortgage Debt Relief Programs
Be wary of e-mails or web-based advertisements that promise to eliminate mortgage loans, credit card debts, and other debts in exchange for a fee to prepare documents to satisfy the debt. These documents are usually titled Declaration of Voidance, Bond for Discharge of Debt, Bill of Exchange, Due Bill, Redemption Certificate, or other similar variations. They do not accomplish what they claim.
Remember that there is no one-size-fits-all solution to getting out of debt. Borrowers may find up paying hundreds of dollars in fees without having their debts eliminated or reduced.
Fraudulent Foreclosure Schemes
Homeowners are misled into believing that they can save their homes in exchange for a deed transfer, usually in the form of a Quit-Claim Deed and up-front fees. The perpetrator profits from these schemes by re-mortgaging the property or pocketing fees paid by the homeowner without preventing the foreclosure. The victim loses both the property and the up-front fees.
PROTECT YOURSELF FROM FRAUDULENT MORTGAGE FINANCING
The following post appears courtesy of the Civil Division’s Consumer Protection Branch. The distressed condition of the national housing market, paired with high unemployment, has created a fertile environment for unscrupulous fraudsters seeking to take advantage of desperate homeowners. Many homeowners who turn to loan modification or foreclosure “rescue” companies for help ultimately find that they have been scammed. An emerging trend in recent months involves mortgage assistance relief scams. These scams target homeowners with promises to save them from foreclosure, get them a reverse mortgage, or lower their mortgage payments—in exchange for an advance or monthly fee. Sadly, many of these homeowners never get the relief they have been promised. These scams use a variety of simple tactics to identify their financially-distressed victims. Some scammers locate distressed borrowers from published foreclosure notices or other publicly-available sources.
In contrast, others rely on mass-marketing techniques such as flyers, radio, television and Internet advertising to lure in distressed borrowers. Still, others deceptively suggest an affiliation with a government agency to quickly earn the trust of unwitting victims. Because this fraud is so insidious and preys on individuals who are at their most vulnerable point, the Consumer Protection Branch in the Justice Department’s Civil Division is committed to prosecuting these criminals and bringing justice to their victims. But individuals are really on the front line in the battle against mortgage fraud. Information is power, and you can protect yourself from mortgage fraud by keeping the following tips in mind:
For information on foreclosure defense call us at (877) 399 2995. We offer litigation document review support, mortgage audit reports, securitization audit reports, affidavit of expert witness notarized, and more.
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