With the mortgage loan and refinancing industries working full tilt to get your business these days, there are a few facts to keep in mind. So-called predatory loans and lending practices are difficult to regulate, so they exist everywhere. From outrageously high fees to a mysterious line item in your closing costs that never gets explained to you, the tactics of predatory mortgage loan companies take advantage of the fact that most borrowers don't know what to look out for.
At the Bank Fraud Victim Center, we specialize in educating consumers on the potential minefield that is the loan business. We also work with consumers who have been defrauded, to help them recover their losses using the rights detailed in the Truth in Lending Act. If you're taken in by a predatory lender, we're here to help, but it's best to avoid the situation altogether.
Keep an eye out for excessive fees; unnecessary refinancing, known as loan flipping; unfair prepayment penalties; kickbacks to brokers, known as yield spread premiums; mandatory arbitration; and any unnecessary products that a lender tries to sell you. The financial experts at the Bank Fraud Victim Center can do a careful audit of your mortgage loan documents. This will often yield questionable line items that can sometimes be recovered through legal channels.
You're not alone in the uncertain jungle of the mortgage loan world. Contact the Bank Fraud Victim Center today to learn more and protect yourself. You can fill out our preliminary audit form below, or call us at 401-349-4717, or email us at firstname.lastname@example.org. We look forward to helping you soon.
Preliminary Audit Form
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