Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Hi.  You guys were recommended.  Hope someone here can show me where to go to find the answer.

Looking up TILA lawsuits.  Finding web sites saying you gotta do forensic audit.  Why's that?  Does anyone here know?  It's real costly and if I got evidence showing mistakes in the accounting, why I gotta pay a "expert to look at it and testify"? 

My case about a private investor held the mortgage against my house.  all kinds of switch a roo garbage like the buyer's statement said one amount but the day I'm at title company they got me signing a note and deed of trust that is $15,000 more than what I was told and paperwork said.  Then after its all done, I get this final buyer's statement in the mail and it says what the first one said.  Then that lender  never ever would send a monthly statement showing how my payments were applied to the loan.  Well you guesed it, he foreclosed me and my bankrutptcy attorney said to go file civil action for wrongful foreclosure and TILA violation.  So that is what I am doing.

By the way, anyone here ever litigated against private lender?  Cause when I tried going to government authorites, I was told the regulatory laws don't apply to private lenders.  Well I am wondering why no one told me this in advance before I did this loan with this person.

thanx - Kirk
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I have a very similar problem I am located in california where are you? who was the private lender & broker?

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Hum!   Well the gang at Where's the Justice For All? said we shouldn't use our full names or say where we are or who's involved in case cause the opposition may be looking.  Said real common for attorneys to have staff searching places like this to see what the other side is planning or feeling.

but I am in northern California.

How are you dealing with your case.  I'm still in the process of putting my causes of action together and the Nolo Press book says to have yiour game plan in place, so that is why I am looking at TILA.

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I don't know if TILA issues apply to a private investor but I offer this.  If there were shenanigans by the other party you may have circumstances to allege a violation of your State UDAP (Unfair and Deceptive Acts or Practices) statute.  Google UDAP and your particular state to look up the details.

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Your right kirk I acually keep forgetting that. well i sent an extended rescission letter for pulling a bait & switch he did not comply i hired an attorney who strung me along and did nothing. now with lost money & time it looks as though I'm on my own

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Wow, okay.  This is what I meant about how is that these private lenders are allowed to have to follow the same rules as licensed lenders?

Any way, thanks for the advice.  I'lll look into that.

Kirk




Ken wrote:

I don't know if TILA issues apply to a private investor but I offer this.  If there were shenanigans by the other party you may have circumstances to allege a violation of your State UDAP (Unfair and Deceptive Acts or Practices) statute.  Google UDAP and your particular state to look up the details.

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what is "extended recission letter"?    Is that something I should have done?    I feel your pain man about attorneys taking the money and running.   Well, stay in touch, maybe we can help each other.  Have you joined the Where's the Justice For All? group?  Lots of good help.

Kirk


Philip S. wrote:

Your right kirk I acually keep forgetting that. well i sent an extended rescission letter for pulling a bait & switch he did not comply i hired an attorney who strung me along and did nothing. now with lost money & time it looks as though I'm on my own

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I think when it comes to loaning money, TILA applies regardless of whether you a credit card company, a licensed lender, or a private individual.    It is one of those laws that says if you are lending money, then you have to put all your cards on the table.  None of this hiding fees and costs and then tacking on after the fact.

I would say you are right about the Deceptive Business Practices and that should be added on to the TILA violation.

Kirk, look at your loan papers and see what the Right of Recission docs state.  You may not have a claim if you did not act in a timely manner.




Ken wrote:

I don't know if TILA issues apply to a private investor but I offer this.  If there were shenanigans by the other party you may have circumstances to allege a violation of your State UDAP (Unfair and Deceptive Acts or Practices) statute.  Google UDAP and your particular state to look up the details.

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Find TILA on the net, get your Docs together, and go through it line by line. It's not all that hard. Then do the Same for HOEPA and RESPA. By the time you get through with those you should probably know what other sections of the Law you want to look at too. 
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