Mortgage Modification Lawyer New Haven, CT
One of the most frightening things that can happen to a Connecticut homeowner is to fall behind in their mortgage payments, resulting in the bank or mortgage company to threaten or even begin the foreclosure process. Even just a being a few payments late can result in the bank’s knocking on your door. Although it may feel overwhelming, there are options to stop foreclosure. A mortgage modification lawyer New Haven, CT residents trust can help homeowners in this position. It is critical to realize, however, that there are many companies that take advantage of homeowners in these situations and perpetrate fraud with a number of mortgage schemes.
At The Law Offices of Ronald I. Chorches, we work diligently to ensure that our clients are protected against these scam artists. A New Haven, CT mortgage modification lawyer from our firm can help find the best legal options for you based on the circumstances of your case.
What Are Some of the Mortgage Modification Scams?
A mortgage modification lawyer in New Haven, CT knows that many of the mortgage modification scam companies claim to be representatives of government agencies or non-profit groups. They make promises of relieving the burdens and stress financially troubled homeowners have, often playing on their fears of losing their home and living on the streets. Instead of helping homeowners keep their homes, these scam artists end up causing the homeowner to lose their home and scamming them out of any additional financial resources the homeowner had, leaving them with nothing.
A New Haven, CT mortgage modification lawyer warns homeowners to be aware of the following red flags that the company they are dealing with is likely committing fraud:
- Mortgage auditors: A mortgage auditor charges homeowners to examine their mortgage documents for any legal errors that could save the property owner money or prevent the bank from foreclosing. In the majority of these transactions, the homeowner only ends up with less money in their bank account from the fee they paid the “auditor.”
- Fake Counseling Service: The company will offer to negotiate a lower interest rate, resulting in a mortgage payment with the bank or mortgage company for a fee, but with no intention of performing any of the things they are charging for. Once the homeowner pays them, however, the company disappears, not returning phone calls or other contact methods.
- Bait and switch: As any homeowner who has purchased and/or refinanced a home knows, there is a pile of paperwork that requires signatures. A homeowner can quickly become overwhelmed with this mountain of paperwork and not realizing everything they are signing. A New Hartford, CT mortgage modification lawyer knows that bait and switch companies will take advantage of a homeowner, claiming they will renegotiate your mortgage, but instead adding a form that has the homeowner surrendering the property to the scammer.
- Rent to buy: The scammer will offer to buy the home and then sell it back to the homeowner through a rent to own program. Unfortunately, instead of helping the homeowner avoid foreclosure, the terms of the contract are often so unreasonable that the homeowner ends up defaulting on the contract and loses any chance at keeping their home.
To learn more about how a mortgage modification lawyer New Haven, CT property owners trust, contact The Law Offices of Ronald I. Chorches today.