Fraud on sub-prime loans

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Ebonee
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Fraud on sub-prime loans

Post by Ebonee » Mon Oct 05, 2020 5:48 pm

Our home is located in Pennsylvania. The fraud originated from a refinance and two sub-prime mortgages obtained together in 2006 from Premier Mortgage Funding located in Florida, broker Brian, and Countrywide/servicer.  Both 1st and 2nd mortgages involved appraisal fraud, equity skimming,  abusive closing costs that went to the broker, pre-payment penalties and a balloon payment. 
They were both modified one time.  In 2018, with a threat from the servicer BOA  of an unfair interest rate increase on the first, and working with a Mortgage Advisor/HUD Counselor, we asked for a modification. Once BOA received ALL OF OUR FINANCIAL DOCUMENTS, they hired Core Logic Taxing Service LLC and they contacted the local tax collector for a Tax Certification. The tax collector Bambi LIED and issued a delinquent certification. WE WERE NOT DELINQUENT ! ! !  She was paid the FULL amount AGAIN plus late fees.
This allowed Core Logic Valuation Inc. and BOA to create a "debt" for an escrow account that did not exist, a BOGUS appraisal, and an offer of a "short sale". Needless to say, we were denied the modification. We had to pay the increased payment and it has been an extreme hardship for the past year. The payment is over 70% of our income. These sub- prime loans were part of the 2008 T.A.ARE.P. 700 billion dollar bailout for  the investor The Bank of New York Mellon. We received relief for nine years...now it has been taken away.  Is there anything we can do at this point other than contacting the servicer or perpetrator of this fraud?? We have been trying to get a fair resolution since 2015 and again 2018. The first modification in November 2008, was based on our income. The payment has now nearly quadrupled. Our income has not. The servicer and others blame " the new administrations de-regulations". Is this true?? How is one expected  to keep up with this abuse with sub-prime home loan fraud??
Although we have not missed a payment EVER, have maintained a high credit score, and have not filed bankruptcy...it does not seem to matter.  Is there anyone within your agency that could help us? Or could you forward this e-mail to someone that can.  We tried to be concise...and have all relevant documents pertaining to this information.      Thank you for your time.                  
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Re: Fraud on sub-prime loans

Post by Admin » Wed Oct 07, 2020 4:40 pm

If you claim fraud, then you may need an attorney. And since you are low income and struggling with the sub-prime loans, you may not have a lot of income. But there are free legal clinics as well as attorneys in the state. You can find them here. https://www.needhelppayingbills.com/htm ... ance_.html
Ebonee wrote:
Mon Oct 05, 2020 5:48 pm
Our home is located in Pennsylvania. The fraud originated from a refinance and two sub-prime mortgages obtained together in 2006 from Premier Mortgage Funding located in Florida, broker Brian, and Countrywide/servicer.  Both 1st and 2nd mortgages involved appraisal fraud, equity skimming,  abusive closing costs that went to the broker, pre-payment penalties and a balloon payment. 
They were both modified one time.  In 2018, with a threat from the servicer BOA  of an unfair        
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