Foreclosuresurvivor's Blog

Surviving Foreclosure

Suing my mortgage company

Well, it’s my opinion that ALL subprime mortgage companies engage in predatory lending tactics.  That’s why they’re “subprime.”  

I had my mortgage papers that were provided at closing audited.  Not surprisingly, violations were found.  I sent a certified letter to my mortgage company requesting disclosures that were not provided with an outline of the violations.  I’m awaiting a response.

It’s actually my 2nd company.  My first was Fremont.  Turns out Fremont was sued in California. It has paid a hefty settlement to victims of their predatory lending techniques.

“In Massachusetts, Attorney General Martha Coakley reached a $10 million settlement in June with subprime lender Fremont Investment & Loan for its unfair lending practices. The state will distribute $5 million to state residents with Freemont loans, and another $3 million will go foreclosure relief and homeowners education. The rest will go to the state and to cover costs.”

See, I’m not crazy.  They were crooks in Massachusetts and they were crooks Maryland too.   My second mortgage company shares liability with a subprime lender convicted of predatory lending methods. 

We must fight back.   Now I just have to find an attorney willing to work for free to sue both companies.  I think I’ll write the Attorney General in Massachusetts and Maryland’s Attorney General for advice.

Anyone who closed on a house with a subprime lender who is facing foreclosure or has already been foreclosed on, should having their mortgage papers audited for violations.  I did. 

Thanks for letting me share.


October 16, 2009 - Posted by | News, Uncategorized


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    Comment by JoJo Jack Jnr | October 24, 2009 | Reply

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    Comment by JoJo John Jnr | November 7, 2009 | Reply

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