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Mortgage company attempts fraud trifecta

sanduskyregister.com | April 19, 2015

By Dan McGookey

Susie's Story

The Setup

In an industry where fraud is the rule of the day, mortgage servicing, Susie’s mortgage company has to take the cake for victimizing as many parties as possible with respect to one mortgage.

Susie’s problems began when she got involved in a protracted and expensive legal battle over custody of her grandchild. Then, after gaining custody, her grandchild developed serious health issues. Back to back, these events drained Susie of her financial resources and caused her to start missing mortgage payments.

And that’s when her mortgage company’s fraud began.

Spreading The Fraud Around

Based on her $1,800 per month income, Susie qualified for mortgage relief under the federal program known as HAMP. Essentially, this program requires the banks who took federal government bailout money during the housing crash of 2008, to give qualifying homeowners mortgage relief, oftentimes consisting of dramatically reduced mortgage payments.

When mortgage companies such as Susie’s don’t offer HAMP they are cheating both the homeowner and the federal government. By falsely denying her HAMP, Susie’s bank forced her to seek help elsewhere, giving it an opportunity to victimize yet another party, the state of Ohio — an opportunity which it quickly took advantage of.

After not paying on her mortgage for years, Susie fell tens of thousands of dollars behind. Of course, the inevitable foreclosure followed. On the eve of a foreclosure sale, Susie was awarded $35,000 in mortgage relief assistance under Save the Dream, an Ohio program no longer in existence. This payment caused the sale of her property to be canceled.

In accepting the payment, the mortgage company agreed to lower Susie’s mortgage balance and interest rate; however, it did neither, completing its fraud trifecta.

Fortunately, the company never dismissed the foreclosure case against Susie (no doubt because its intention all along was to force the sale of her home), giving us the opportunity to file a motion with the court to require the company to give Susie the modification it promised.

When the court looks at what this company did, we have no doubt it will finally right the longstanding wrong against Susie and, vicariously, our government.


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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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