Sadly, scammers are everywhere: After a disaster strikes, preying upon the elderly and when homeowners are at their most vulnerable.
Mortgage loan modification scams and other ways to help distressed homeowners have been popping up for years. But they've been much more frequent as the economy has collapsed and people have lost their jobs and grown desperate.
Make sure you know who to trust if you're fighting foreclosure in Miami. If it's too good to be true, it probably is. Companies have been set up by schemers to try to get people's money up front while offering a false promise of helping them get a loan modification or getting the bank to reduce the amount the borrower owes on the house.
In reality, these people have little chance at getting a bank to do anything. They are powerless. But an experienced and aggressive Miami Foreclosure Defense Lawyer can fight a bank with the law, in the courtroom and by challenging the lending institution to prove ownership and conduct a foreclosure in accordance with the law.
In a case out of West Kendall, four people are accused of stealing more than $750,000 from more than 500 homeowners. Four people have been arrested and are charged with running a phony loan modification company. They are charged with conspiracy under teh Racketeer Influenced and Corrupt Organization Act.
The company, called Best Value Homes, allegedly promised to help struggling homeowners modify loans between 2008 and 2009. They charged homeowners upfront fees and after taking the money, did nothing to help these people, the Florida Attorney General's Office alleges.
It's too bad that it usually takes a few years of investigation before scams like these are broken up. Homeowners must report the problem to authorities and after compiling complaints, the state must then conduct an investigation. It all takes time. And in the mean time, a homeowner who threw away a mortgage payment on a false promise is now stuck in foreclosure.
But it's not all bad news. There are ways to fight back. And the first step is finding an experienced and aggressive Miami Foreclosure Defense Attorney who has taught other attorneys how to help struggling homeowners.
Not all lawyers have the experience and aggressive approach to take on the banks head-on. Banks have a lot of money on their side, but they also have a lot of problems. Robo-signed documents, shady paperwork dealings and the use of poorly run companies to process paperwork are just a few of the most common problems.
These have been revolutionary times. There are millions of foreclosed homes on the market and experts believe many more may be coming. The rise and fall of the real estate market, especially in Florida, has been historical. And in this time, there have been seemingly unreal problems with the foreclosure process.
Even if a homeowner has missed mortgage payments, they still have rights and they still must be treated fairly. And that simply can't be done on their own. An experienced foreclosure defense attorney will stand by your side and fight the banks.
If you're battling foreclosure in Miami or the surrounding areas, contact Jacobs Keeley for a confidential appointment to discuss your rights. Call (305) 358-7991.
More Blog Entries:
Mortgage Modification Fraud Reports in Miami Tops in Nation: June 11, 2011
Four West Kendall residents arrested in loan modification scam, by Toluse Olorunnipa, The Miami Herald