| |  |
| Home | Law Advice | Insurance Advice | Community |
| |
| ||||||||||||
| |||||||||||||
| | |||||||||||||
| |||||||
| | |
 |
| | LinkBack | Thread Tools | Rate Thread | Display Modes |
|
#1
02-03-2009, 06:32 PM
| |||
| |||
predatory lending victimWhat is the name of your state (only U.S. law)? virginia I believe that my fiance is a victim fo predatory lending. What, if any, recourse does she have? Who can she contact for advice/help? |
|
#2
02-03-2009, 06:59 PM
| |||
| |||
| While the term "predatory lending" is all the vogue right now, how did your fiancee lose?
__________________ When you are a Bear of Very Little Brain, and you Think of Things, you find sometimes that a Thing which seemed very Thingish inside you is quite different when it gets out into the open and has other people looking at it. --W. T. Pooh (aka A. A. Milne) |
|
#3
02-04-2009, 09:04 AM
| |||
| |||
| She should contact a HUD approved housing counseling agency. they can review her situation and advise her. if it is predatory lending, the counselor can make a referral to an attorney and/or the state AG. To contact a HUD approved agency, she can call 800.569.4287 or go to: [url=http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?webListAction=search&searchstate=VA]HUD Approved Housing Counseling Agencies[/url] |
|
#4
02-05-2009, 03:09 PM
| |||
| |||
| Might want to look at http://forum.freeadvice.com/mortgages-refinancing-foreclosure-107/mortgage-loan-mess-451023.html for the full story...
__________________ * * The information I gave is based on my 7 seconds of research on Google. Review the information yourself to make an informed decision. Communication is KEY - 10 mins of talking now can save you months of headaches later! Masterfully stating the obvious to the oblivious! (Thanks SP!) Tell it like it is! When all else fails, make up a statistic!  Gender references shall apply equally to the other gender. I will not correct gender mistakes (unless I want to) |
|
#5
02-05-2009, 03:13 PM
| |||
| |||
| Quote:
__________________ Hook 'em Quote:
|
|
#6
02-05-2009, 03:16 PM
| |||
| |||
| Quote:
|
|
#7
02-05-2009, 06:32 PM
| |||
| |||
| Quote:
Thanks for your recommendation. Randy |
|
#8
02-05-2009, 06:50 PM
| |||
| |||
| Quote:
Her situation is unbelievable. In 2006, two days before the closing of the sale on condo 1, the buyer backed out. The real estate agent ( representing condo #2) made an arrangement with the loan company to approve the loan for condo 2 with an equity loan from condo 1 for a down payment and to include rent for condo 1 in the approval process, even though condo 1 was not rented at the time. According to her current financial income at the time, her take home pay was $3,000.00. The total mortgage payments for both condos was $6,000.00. If condo 1 was rented, she would get about $2,000.00 per month. She was all packed and ready to go when the buyer of condo 1 backed out. She decided to go ahead with the loan (big mistake!) with the hope that she would soon find another buyer for condo 1. Then the market crashed and she was stuck. As you can imagine, she is barely making it financially. Well, that is the jist of it. If you have any advice, it would be greatly appreciated. She really is a wonderful gal, but made a really bad financial decision. Thanks |
|
#9
02-05-2009, 06:56 PM
| |||
| |||
| Quote:
__________________ * * The information I gave is based on my 7 seconds of research on Google. Review the information yourself to make an informed decision. Communication is KEY - 10 mins of talking now can save you months of headaches later! Masterfully stating the obvious to the oblivious! (Thanks SP!) Tell it like it is! When all else fails, make up a statistic! Gender references shall apply equally to the other gender. I will not correct gender mistakes (unless I want to) |
|
Linear Mode
