Don’t wait until it is too late, contact a foreclosure defense lawyer as soon as you fall behind in your mortgage payment.

Adjustable Rate ARM:  This loan features a lower rate at the beginning of the loan with periodic adjustments, typically 6 months or one year, based on the moving London Interbank Offered Rate LIBOR.  Many ARM loans contained artificially low teaser rates that kicked in addition to the LIBOR reset rate.
Fixed Rate:  The most common form [...]

The 2007 FBI Mortgage Fraud report explains how an unscrupulous real estate developer commits mortgage fraud with a seller in a builder bailout scheme.
Say the developer built a house that normally sells for $200,000.  In a declining market, the builder fears a fair market sale will not cover the bridge loan for construction costs.  The [...]

The official FBI.gov website contains a 2007 study on mortgage fraud schemes.  The FBI explains how a perpetrator conspires with a property buyer to commit short sale fraud.
The perpetrator of this scheme finds a buyer for a piece of property.  The buyer obtains a 100 per cent loan, and if possible attempts to borrow extra [...]

The 2007 FBI Mortgage Fraud Report, appears on the official United States government FBI website.  This report details, in four illustrated steps, how an illegal property flipping scheme works.
First, a property flipper buys a house for a low price, in this case $20,000.
Next, the flipper purchases a fraudulent appraisal of the property for a much [...]

The FBI website contains an April 2008 warning about identity theft and Home Equity Line of Credit loans.  The warning details findings from a 2007 FBI study of fraud in the mortgage and real estate industry.  The FBI believes thieves steal a person’s identity to either open a new line of credit over the internet [...]

The bankruptcy of Taylor Bean & Whitaker Mortgage Corp., resulted in the transfer of mortgage servicing on its entire loan portfolio according to information from Bankrate.com.  All of the FHA, VA and Rural Housing Services loans that were current as of August were transferred to Bank of America.  Delinquent loans were transferred to either Saxon [...]

In Illinois, property is sold at foreclosure by one of several methods, by judicial sale in court, or by a court appointed receiver, trustee or sheriff, usually in the courthouse or by agreement of the parties.  The borrower has 7 months after the lawsuit was filed or 3 months after a foreclosure judgment was entered [...]

Illinois Governor Pat Quinn signed a new law April 5th, 2009 that prevents mortgage holders from foreclosing for up to 3 months.  The law imposes a moratorium on foreclosure within the first 30 days of delinquency.  Mortgage holders must advise borrowers they have 30 more days to seek credit counseling.  Homeowners who obtain housing counseling [...]

A study by the federal Office of the Comptroller of the Currency and the Office of Thrift Supervision found industry attempts at loan modification are inadequate.  The government agency looked at 35 million loans worth over $6 trillion.  Almost 1 in 4 loans resulted in increased monthly payments as a result of fees and interest [...]