Mortgage Fraud Class Action
Unprincipled lenders and mortgage brokers have defrauded thousands of innocent homeowners and consumers across the United States through predatory and fraudulent mortgage financing and refinancing. These lenders offer homeowners mortgages for which they are not qualified, leading directly to foreclosure and financial ruin. Often, improper fees are collected with these loans. Sadly, these unfair and deceptive practices are not uncommon and cost Americans billions of dollars each and every year.
If you or someone you love has been a victim of mortgage fraud or predatory lending, you need an experienced law firm on your side that is not afraid to fight the large lending companies. At Golomb Legal, our consumer attorneys will fight aggressively to hold predatory lenders and dishonest mortgage brokers responsible for their actions. Call us today at (215) 278-4449.
What is Mortgage Fraud?
When you apply for a home loan, you trust that your mortgage company will treat you honestly and honor the terms of the loan. You also trust that your mortgage broker will consider your financial means to repay this loan and qualify you accordingly. You also expect that fees are lawfully disclosed and collected throughout the life of the loan. When these companies use predatory lending practices to secure or administer loans, homeowners are the ones who suffer.
Mortgage brokers and lenders can commit abusive mortgage lending practices in a variety of ways, including:
- Failure to present loan price as negotiable
- Failure to disclose terms and conditions clearly
- Short-term loans with disproportionally high fees
- Fraudulently denying loan modifications
- Lying to borrowers
- Pushing borrowers into foreclosure to collect fees
- Offering borrowers larger mortgages for which they are not qualified
- Collecting unlawful or improper fees
Abusive mortgage lending practices harm not only borrowers, but also government entities and investors who have backed these mortgages. When the same lender, such as a large mortgage company, deceives many people or entities a class action lawsuit may be the best legal option to protect the rights of all victims.
Through a class action lawsuit, the costs of litigation are generally lower and the entire legal process is streamlined. A class action lawsuit is also the best way to shine a light on fraudulent activity and eradicate it once and for all.
In recent years a variety of banks, mortgage companies, and lenders have faced mortgage fraud class action lawsuits, including:
- JP Morgan Chase
- Bank of America
- Wells Fargo
- EMC Mortgage
Contact Our Consumer Lawyers
At Golomb Legal, our class action attorneys have extensive experience handling complex class action lawsuits against banks and mortgage lenders accused of fraud or predatory lending. To learn more about your rights and legal options, call the lawyers at Golomb Legal today.
Our experienced litigation attorneys have represented individuals and their families across the United States in their quest for justice. We believe in holding mortgage companies and lenders responsible for their fraudulent actions.
To learn more about your legal options or to schedule a free consultation call the Philadelphia class action lawyers at Golomb Legal today at (215) 278-4449 or fill out our confidential contact form.
