#predatory foreclosure

Bankruptcy and foreclosure is a plague that is affecting millions of homeowners nationwide.  Foreclosure rates are at record highs, and many people are being left hung out to dry by their lenders, thinking the only options they have will be to lose their home to foreclosure and then file for bankruptcy.  What a lot of people don’t realize is that they are only in that situation because of the banks’ blatant approval of issuing predatory loans.

Over the last decade, the greed of lenders has spiraled out of control, and we are constantly seeing new examples of how they deliberately put homeowners into bad situations by approving predatory loans that they were well aware the homeowner would not be able to keep the payments up for.  Their greed did not stop there, however.  Predatory loans were not enough, they felt the need to engage in predatory foreclosures as well in order to not only increase their profits, but to cover up the massive amounts of mortgage fraud they had been committing.

As a way to increase profits, banks would put mortgages through a process known as securitization.  This is a process where the title is separated from the home loan so that the loan can be traded and sold as a security, in the same way stocks and bonds are traded on the open market.  It is estimated that nearly 85% of all home loans issued in the last 10 years have gone through this process.  Banks would cherry pick and bundle together loans they knew would end up defaulting and then sold them as a “safe” investment.  Not only did they commit a massive amount of fraud by doing that, but they also failed to properly follow the securitization process.  This means that if your lender is attempting to foreclose on your home, they may not actually have any legal right to since they lost track of who actually possesses the title.  If this has happened to your mortgage, then any foreclosure you are facing may be an illegal foreclosure.

The best way to stop one of these illegal, predatory foreclosures is to obtain a securitization audit on your home loan.  A securitization audit is a forensic audit that will examine all of your home loan documents and discover if you home loan was securitized, and if it was securitized correctly.  If any violations are discovered, that means that the illegal foreclosure must stop immediately.

Recently there has been a steep rise in foreclosures due to predatory lending practices.  Because of the irresponsible actions of banks, hundreds of thousands of homeowners are now left feeling that they have no options other than bankruptcy and foreclosure, but there is a way to protect yourself from a predatory foreclosure.

Predatory foreclosures are more commonplace than you would think, and they happen a lot when being forced to deal with predatory lenders such as Bank of America, who are just trying to steal as much money as they can from homeowners before grabbing the property out from under them and then reselling it for a profit.  These lenders do not care about anything other than their bottom line, and have no problems with attempting to steal property through illegal foreclosure.

One of the ways these banks try to get away with a predatory foreclosure is by trying to foreclose on a property they no longer have the legal right to foreclose on because they did not follow the securitization process properly.  Securitization is a process where the title is separated from the home loan so that the loan can be traded and sold as a security, much like stocks and bonds are traded.  Nearly 85% of all home loans in the last decade have gone through this process. There are a large amount of regulations involved in securitizing a mortgage loan, and if this process is not followed correctly, it is no longer clear who has a legitimate claim to the title of the property, since the title became separated from the loan and lost track of.  This means that if you are facing foreclosure, it may be an illegal foreclosure.

Another trick these banksters have use to push through a predatory and illegal foreclosure is called robo signing.  If robo signing is involved, this means that the documents were simply pushed through without any examination at all.  Many times, people singing the documents have lied and said they were loan officers when they were not.  Robo signing has been incredibly widespread, and due to the number of illegal foreclosures involving robo signing, a large number of states have ordered stops to foreclosure proceedings.

If you are a victim of a predatory foreclosure, one way to fight back is by obtaining a securitization audit.  A securitization audit is a forensic audit that will examine all of your home loan documents and discover if you home loan was securitized correctly.  If any violations are discovered, that means the foreclosure is illegal and that it must stop immediately.

Many people don’t know it, but many foreclosures that have been and continue to take place are illegal foreclosures that should never happen.  More often than you would think, banks are foreclosing on properties they have no legal right to do to, due to incorrectly following procedures to securitize home loans.

With foreclosure rates at record highs, many people once faced with financial hardship think the only options they have are bankruptcy and foreclosure.  This is what the banks that got people into bad situations by approving predatory loans to people they knew couldn’t afford to keep up with the payments want people to think.  Over the last 10 years, we have seen the greed of lenders spiral out of control and help destroy the economy.  People have lost their homes to foreclosure, not realizing that thanks to the out of control greed of the banks, they were victims of an illegal foreclosure.

If you have taken out a mortgage in the last 10 years, there is a good chance that your home loan has been securitized.  Securitization is a process where the title is separated from the home loan so that the loan can be traded and sold as a security, much like stocks and bonds are traded.  Approximately 85% of all home loans in the last decade have gone through this process.  Many of them were securitized incorrectly though.  This means it is no longer clear who has a legitimate claim to the title of the property, since the title became separated from the loan and lost track of.  This means that if you are facing foreclosure, it may be an illegal foreclosure.

The best way to stop one of these illegal, predatory foreclosures is to obtain a securitization audit on your home loan.  A securitization audit is a forensic audit that will examine all of your home loan documents and discover if you home loan was securitized, and if it was securitized correctly.  If any violations are discovered, that means that the illegal foreclosure must stop immediately.  A securitization audit will also be able to discover if there has been any evidence of robo signing techniques used.

Robo signing is a favorite technique of lenders used to push a predatory foreclosure through faster.  If robo signing is involved, this means that the documents were simply pushed through without any examination at all.  Many times, people singing the documents have lied and said they were loan officers when they were not.  Robo signing has been incredibly widespread, and due to the number of illegal foreclosures involving robo signing, a large number of states have ordered stops to foreclosure proceedings.