Mortgage Lender Fraud
Recent news reports have exposed home loan lenders who fraudulently overcharged their borrowers. The Federal Trade Commission is cracking down on lenders whose actions ultimately led to the housing bubble collapse. Some affected individuals are being awarded compensation for their losses.
If you were fraudulently overcharged by your lending institution shortly before your home was foreclosed on, contact the Maryland mortgage modification lawyers of Chaifetz & Coyle, P.C. at 443-546-4608.
Seeking Just Compensation
Recent settlements with lending institutions have created a pool of money to be paid back to individuals who were defrauded by these companies. In most cases, the company that committed the fraud is responsible for contacting the affected individuals.
The lending institutions scammed homeowners in a number of ways, including:
- Property inspections
- Landscaping fees
- Overcharging for basic services
In many cases, the lending institutions hired independent vendors to perform these services. Homeowners were usually charged at rates far above most market rates. In many cases, these fees were thousands of dollars. Many of these fees caused homeowners to default on their mortgages.
Victims of fraudulent charges from their lending institutions deserve to have their money refunded. An experienced lawyer may be able to help victims recover the fees that they were unfairly charged.
Many mortgage defaults resulted from fraudulent charges from dishonest lending institutions. If you or someone you know defaulted on your mortgage because of fraudulent fees, contact the Maryland mortgage modification attorneys of Chaifetz & Coyle, P.C. at 443-546-4608 to learn more about the recent developments and whether you qualify for a refund.