Washington, DC — (ReleaseWire) — 04/05/2016 — When asked how the mechanism works, Bradford explained: “It’s very simple; appraisal fraud, other tortious conduct, contract breaches, errors, setoffs, statutory/regulatory violations, etc., underlie over 90% of mortgage transactions. These abuses give homeowners leverage to beat the banks. When we examine mortgage transactions (contract) and find misconduct, our clients use our analysis to draft and send a contractually mandated ‘grievance letter’ to the Servicer, which mandates they take ‘corrective action.’ Since the damage has already been done, the only “corrective action” they can take is to settle with the homeowner.”
“Most homeowners and attorneys aren’t even aware that the standard Fannie Mae/Freddie Mac mortgage security instrument requires homeowners to send a ‘Notice of Grievance’ putting the lender on notice of any, and all misconduct.” Moreover, the government requires servicers to have processes in place to handle these grievance letters, so now you have the government looking up their behinds.”
“In order to present the strongest argument for the Servicer to take ‘corrective action’, it is a must to have an analysis of the entire mortgage transaction (contract) to identify errors, breaches, omissions, fraud, statutory violations, and/or predatory/unfair lending practices. Moreover, Servicers know that the government comes down hard on them if they don’t cooperate. And they know they will lose if the homeowner sues for damages from injuries resulting from their discretions. So they will usually settle quickly in a way that satisfies the homeowner. The majority of lucky homeowners have reversed their fortunes, obtaining settlements in negotiation, or won monumental damage awards in litigation.”
When asked why homeowners even with lawyers keep losing their homes, Bradford gave a haunting reason: “Most supposed ‘foreclosure defense’ attorneys are giving the homeowner false hope, because their only strategy is making refuted arguments and filing useless pleadings to drag out the inevitable foreclosure. Moreover, these legal charlatans charge their hapless victims tens of thousands for the privilege of losing their home. Unfortunately, legal incompetence and legal malpractice is one of the major reasons so many homeowners have lost their homes.”
Some industry pundits muse over whether foreclosure defense lawyers commit legal malpractice by failing to examine the mortgage transaction. Bradford explained the issue: “Bar ethics counsel has made clear that attorneys commit malpractice by failing to examine contracts when there is an allegation of breach. A foreclosure is basically an allegation the homeowner has breached the contract by their failure to make timely payments. The servicer sends a notice of default and accelerates the loan pursuant to contract. Doesn’t it make sense for the foreclosure victim’s attorney to examine the contract and related documents to determine whether the lender breached first, there are any errors that may void it, and/or fraudulently induced the homeowner into the contract? Common sense dictates that attorneys should be checking whether the mortgage is even enforceable before tackling a foreclosure.”
Thomas K. Plofchan, Jr. an attorney specializing in foreclosures and employs the services of Mortgage Fraud Examiners explains as follows:
“Mortgage Fraud Examiners is the ‘go to’ firm if you want your lender to negotiate on your terms not theirs. They provide a meticulous analysis of the whole mortgage transaction, identifying breaches, errors, and/or fraudulent conduct, which helps me prepare a legal strategy to force a financial settlement and in some of our cases, free title to the property.”
Bradford concludes: “There really are many options available to homeowners, regrettably most of which are worthless services or worthless arguments. Undeniably, the only established procedure for a homeowner to obtain a financial settlement or their home free & clear is through an in-depth analysis of the mortgage transaction. Regrettably, everything else is just wishful thinking or a scam.
If you want to try and reverse your fortunes, consider an examination of your mortgage transaction by contacting Mortgage Fraud Examiners for a free private consultation.