Syed Ali Saeed will review your loan documents after foreclosure has been filed, looking for violations that he can use as leverage for settlement of your case through a reduction of principal. These violations include accounting errors, loan origination mistakes, how the bank serviced your loan and collected payments, and violations of lending laws.
Fraud is common in the mortgage business with little to no incentive to fix the problem. The following is an example of a common problem in the mortgage industry. Bank A funds your mortgage. At some point Bank A will turn over the servicing of your loan to Bank B. Bank B gets a small percentage of your loan as its fee to collect monthly payments. But Bank B also gets ALL of the late fees associated with your account. Thus in the transition from Bank A to Bank B, many times there is a 30-60 or even 90 day delay in letting you know where to send payments to. Bank B uses that time window to assess late charges and other fees.
Another Example of Mortgage Fraud
Bank A funds your mortgage. At some point your payment history raises a red flag with Bank A. They then decide to sell your note along with other notes they deem to be high risk for a very small amount of money. Companies buying these high risk mortgages are doing so with the expectation of making money on your default. By purchasing a note that is valued at less than the cost of your house, your foreclosure means that the new company that purchased these high risk notes makes money by owning a house worth more than the money they paid for your note. In other words, these companies in some cases have a desire for you to default on your mortgage. Again, by using the 30-60 or 90 day window for the transition of paperwork, you may get hit with a foreclosure notice for missing payments during a time that you had no idea where to send a payment to.
Fighting Fraud and Foreclosure
Indiana attorney Syed Ali Saeed can help you fight mortgage fraud and foreclosure. In some cases, blatant fraud can result in you actually being given title to your house free and clear as a settlement for not taking legal action against the disingenuous actions of the mortgage firms.
For blatant violations by credit card firms and collection agencies, besides collecting $1,000 for the harassment, you may also get thousands written off your debt as a condition of holding these companies accountable for their violations of the law.