The fact that you're watching this message right now means you think you might be a victim of predatory lending.
Remember, the purpose of this website is to educate you about federal laws that have been around for decades... laws that were enacted to protect you throughout the home buying process.
So how do you know if you've gotta potential case against the company who originated your mortgage? Or against the mortgage servicing company who's currently collecting your monthly payments?
Simple. Here are the Top 6 Red Flag Warning Signs that indicate you may have a predatory lending case:
- If your loan was an Adjustable Rate Mortgage, or an "ARM".
- If your monthly loan payment has increased more than $200 in the past year.
- If your monthly payment will increase by more than $200 in the next six months, or
- If your loan has a pre-payment penalty longer than three years.
- If your home was originally appraised for a higher value than homes were selling for in your neighborhood.
- Or if your Realtor or title company steered you to a specific mortgage company.
If you answered 'yes' to two or more of these questions, then you may have a case against...
- Your loan originator, including the broker and actual funding mortgage company...
- The title company who closed your loan...
- The appraiser who provided the original appraisal to your funding mortgage company
- The loan servicer: They're the company you send your payments to.
If you think-based on the warning flags I just outlined-that you may have a case, then it's time to educate you about your rights and remedies.
Education is power: Click here to take the next step and find out how to launch the mortgage audit process.
