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Predatory Lending Defense

Stop Foreclosure Now!

The current subprime mortgage crisis is a financial plague afflicting much of our nation's economy. Ignited by unscrupulous lenders offering adjustable rate mortgages to borrowers who do not understand the mortgages, foreclosures recently flared to an all-time high. At the same time, many other homeowners fall behind on mortgage payments for a wide variety of other reasons, like a lost job, medical bills or a divorce.

Do you have a predatory loan?

Here are some things to look for:

Did you use a high pressure mortgage broker to get your loan?
Did you end up owing a lot more money after the loan without getting any economic benefit?
Did you pay your broker a high amount of fees for arranging your loan?
Did your broker get a kickback (Yield Spread Premium) from the lender in exchange for sticking you with a loan at a higher rate than you were qualified for?
Did the terms of the loan change from the time you applied to the time you closed?
Were there a lot of extra charges for things you do not understand?
Did you apply for a fixed rate mortgage and end up with an adjustable rate mortgage?
Did the rate of your adjustable rate mortgage reset almost immediately after closing?
Does your mortgage result in negative amortization – in other words, do you owe more money now than when you started?
Does your mortgage make it difficult to finance because of a high pre-payment penalty?
Did your closing happen in your own home or some place other than a title or escrow company?
Did you not get copies of all your closing documents at the closing?

When loans are irregular and improper, the just don’t feel right. They are predatory and you have been victimized. If you have a loan or a lender which just doesn’t feel right, call Lakelaw.

If you have a mortgage servicer like Ocwen or Countrywide or Litton Loan Servicing, who is abusing you, call Lakelaw. You are entitled to have your payments applied to your loan properly. You are entitled to a fair and honest count. You are entitled to have the insurance company of your own choice as long as you are paying for your premium. You should not be charged for late charges if you have not paid late.

Don’t let your mortgage company force you into foreclosure and bankruptcy. If these sorts of things are happening to you, don’t wait for the sheriff to serve foreclosure papers. Call Lakelaw first at 1 866 Lakelaw (525-3529) or contact us online.

No one ever wants to lose their home. If you are facing foreclosure, you do not have to do it alone. At Lakelaw, from Chicago to Milwaukee and in the 7 Rivers Region of Wisconsin, our attorneys are recognized experts in bankruptcy and mortgage law — attaining board certifications, delivering lectures to Illinois, Wisconsin, and national gatherings of legal practitioners, and developing cutting-edge strategies to stop foreclosure and fight predatory lending as well as mortgage rescue scams. David Leibowitz has been asked to lecture on the predatory lending defense to the State Bar of Wisconsin, the Arizona Bar, the Federal Reserve Bank of Chicago and the National Association of Bankruptcy Trustees. He has written on Predatory Lending in the nationally recognized Norton’s Annual Survey of Bankruptcy Law both in 2007 and in 2008.

Are you the victim of Mortgage Rescue Fraud?

People facing foreclosure often get unsolicited offers of “help” from strangers. Have these strangers asked you to deed your house to them? Maybe they have leased the house back to you so that you can “buy it back” some day. Maybe they have sold the house to an “investor” who will “hold it for you” until you can refinance. Some may even go so far as to get you to transfer a 1% interest in your house to them. This won’t help you a bit and is a fraudulent scheme.

These people are stealing your house, your equity and your future. We can take your house back from these scammers.

Consumer protection statutes are available under Federal law as well as Illinois and Wisconsin state law to protect people in your position.

If you have lost title to your home through this sort of equity-stripping mortgage rescue fraud, call Lakelaw today at 1-866 LAKELAW (525-3529). We represent people from Chicago to Milwaukee and in the 7 Rivers Region to fight back against Mortgage Rescue Fraud.

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