© By William J. Purdy
Law Office of Simmons & Purdy
Spoiler Alert:
As a borrower, you are an expendable resource in
home loan servicing to be exploited for fees and charges.
And those who could do something,
“hear no evil, see no evil, speak no evil”.
Meanwhile, you and other borrowers are the enemy in something once referred to decades ago as “Combat Loan Servicing”.
Borrowers just trying to keep their homes are subject to a campaign of systematic and deliberate deception. This fundamental deception is now often combined with the fraudulent surcharging of fees costs and other “expenses” designed to make vast additional amounts of money for lender/servicers.
When used aggressively, their techniques run homeowners slowly into foreclosure, resulting in the permanent loss of home(s).
If the hapless borrower manages to retain the home, lender/servicers make hundreds of millions of dollars of additional annual revenue at little or no cost. (They make this money by doing as little as possible and getting you to do or not do things for which they can aggressively bill you.)
In many cases, both the Racketeering Influenced Corrupt Organization Act (“RICO”) plus the federal mail and wire fraud criminal laws are violated. Federal and state regulators have known about these practices for years. However, Lender/servicers have had a de-facto exemption from enforcement.
Sound overdramatic? Read on and decide. Full article at: