Help may be available to borrowers that have complaints against their lenders for violating the Truth in Lending Act and other laws governing loan agreements. Such violations could be a defense to a home foreclosure. If there is a violation, you could be able to invalidate the mortgage and apply 100% of your payments to the principal. It is also possible to recover money damages. Look for additional foreclosure information here http://www.loan-modification-masters.com.

If you say yes to any of the following questions, you should seek out a professional auditor to evaluate your loan papers (include collection and demand letters, correspondence, and any account histories or monthly statements).

1. Have you refinanced your mortgage repeatedly? Was the most recent refinance within the last 3 years? A routine predatory practice is "flipping," which involves frequently refinancing a loan without an advantage to the borrower, in order to profit from high origination charges, closing costs, points and other costs, steadily eroding the borrower's home value.

2. Was there an increase rather than reduction of your rate of interest upon refinancing?

3. Do you pay an interest rate more than 9.5%?

4. Did you get the loan to invest in a home improvement job that was not performed right or even at all?

5. Have you had issues with the lender regarding late posting of your payments? Unannounced increases in payments? Have they added amounts to the balance for insurance, "property preservation," or other "advances"? Does the principal balance never appear to lessen?

6. Were you slapped with high closing costs on the mortgage?

7. Did the lender alter the terms of the contract to your detriment just prior to closing?

8. Did the lender pay money to your mortgage broker? (look on the HUD-1 Settlement Statement to see if there is a "premium" or POC (paid out of closing) "YSP" or "yield spread premium")?

9. Did you get an adjustable rate mortgage, are the adjustments calculated improperly? Are you able to tell if the adjustments are accurate or not?

10. Do you have a prepayment penalty written into the loan?

11. Has correspondence with the lender been ignored? (Lenders have a legal obligation to answer complaints and requests for explanations of accounts. Frequently they do not. Every failure may entitle you up to $2,000. If your assertion against the lender exceeds the number of monthly payments you allegedly missed, the lender may not be able to prove that you are in default.)

12. Have each of the collection correspondence presented to you by debt collectors comply with the Fair Debt Collection Practices Act? You could receive as much as $1,000 and more if they did not.

13. Were you given your copy of the loan documents at the closing? That would be in opposition to them being delivered to you later, or did the closing representative send you signed copies at all?

14. Was the closing conducted at your residence, in a different city or by mail?

There seems to be a frequent assumption that lenders do not desire to foreclose and acquire real estate. While not every lender are scavengers by nature, there are some that are. In fact there are a rising number of predators who purchase bad debts, including mortgage loans, for a fraction of their value and attempt to enforce them. Such entities make money off of foreclosure.

Fortunately there are foreclosure programs that can help you if you have been victimized by predatory lenders. You can find one of the best at Loan-Modification-Masters.com. They provide a free evaluation to determine if you qualify for a loan modification and a 100% money back guarantee that they can negotiate you a loan modification making your payments more affordable.

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