Taking Legal Action: Sue for Mortgage Loan Fraud & Predatory Lending | Gathering Evidence & Seeking

How to Sue for Mortgage Loan Fraud: Mortgage loan fraud and predatory lending have been ongoing issues, leading many individuals to be coerced into obtaining loans they would not typically qualify for. This video explains the process of taking legal action if you are a victim of mortgage loan fraud. Part 1 focuses on gathering evidence for your lawsuit. It advises identifying illegal lending practices, such as encouraging false information on mortgage applications, pressuring high-risk loans, charging excessive fees, and using false appraisals. The video also warns about common fraudulent lending schemes, including foreclosure rescue schemes, home equity conversion mortgages (HECM), and loan modification schemes. It emphasizes the importance of documenting the fraud, keeping records of paperwork, police reports, credit reports, loan agreements, emails, and letters. Additionally, it suggests writing down details of conversations with perpetrators and creating a timeline of contacts and conversations. Seeking legal assistance is recommended due to the complexity of mortgage loan fraud lawsuits. It advises finding a real estate attorney through state bar associations or the National Crime Victim Bar Association. The video concludes by discussing the available remedies that can be sought in court, which will be determined by state laws and the advice of your lawyer.

source