More government departments and groups are investigating mortgage fraud than ever before. While this is encouraging news for potential victims, the sheer volume of bogus cases makes it difficult for even these authorities to keep track of each one.
As a result, these organizations are essential tools for customers who believe they have been victims of mortgage fraud or who fear they are being urged to commit fraud. Many of the most well-known are included here, along with details about their areas of specialty.
In addition to the agencies listed below, the U.S. Department of Justice plays a key role, having formed a national mortgage fraud task force to investigate and prosecute real estate and mortgage-related crimes as the housing market fell in 2008.
In addition to federal laws and authorities dealing with mortgage fraud, each state has its own laws and institutions in place to deal with the problem. The state attorney general’s office is usually first in line when it comes to investigating and prosecuting crimes of all kinds in a state. Other state agencies, such as real estate commissioners and banking organizations, may be engaged.
The FBI, HUD, and the U.S. Department of Housing and Urban Development all have local offices in each state that play a role in combating mortgage fraud or can act as information resources for customers. The Office of Thrift Supervision is part of the Treasury Department. National non-profit groups like the Fair Housing Alliance and the Better Business Bureau can also be beneficial.
The 50 chapters that follow provide a state-by-state summary of mortgage fraud resources, including listings and contact information for federal, state, and non-profit organizations in each state.
5 Ways to Stay Out of Foreclosure
If you do not make your mortgage payments, you may face foreclosure. Your lender has the legal right to repossess (take over) your home through foreclosure. You’ll have to leave your home if this happens. A deficiency judgment may be pursued if your home is worth less than the entire amount you owe on your mortgage loan. If this happens, you will not only lose your home, but you will also owe an additional sum to your lender. Foreclosures and deficiency judgments can significantly impact your ability to obtain credit in the future. The following are some suggestions for avoiding foreclosure.
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.