This holiday season, millions of Americans are still struggling to avoid bankruptcy and foreclosure. It is hard to have any holiday cheer when facing the cold hard facts that foreclosure rates remain at record highs and time and time again, homeowners are being taken advantage of by their lenders by being told that the only options they have will be to lose their home to foreclosure and then file for bankruptcy. What a lot of people don’t realize is that they are only in that situation because of the banks’ blatant approval of issuing predatory loans.
We have seen the greed of predatory lenders such as Bank of America, JP Morgan Chase, Wells Fargo and others nearly bring this country to its knees over the last decade, and even still, we are discovering new examples of how they deliberately put homeowners into bad situations by approving predatory loans that they were well aware the homeowner would not be able to keep the payments up for. Their greed did not stop there, however. Predatory loans were not enough, they felt the need to engage in predatory foreclosures as well in order to not only increase their profits, but to cover up the massive amounts of mortgage fraud they had been committing.
One of the biggest problems that has lead to an incredible spike in predatory and illegal foreclosure cases around the country is the failure of banks to properly securitize home mortgages. Securitization is a process where the title is separated from the home loan so that the loan can be traded and sold as a security, in the same way stocks and bonds are traded on the open market. It is estimated that nearly 85% of all home loans issued in the last 10 years have gone through this process. Banks would cherry pick and bundle together loans they knew would end up defaulting and then sold them as a “safe” investment. Not only did they commit a massive amount of fraud by doing that, but they also failed to properly follow the securitization process. This means that if your lender is attempting to foreclose on your home, they may not actually have any legal right to since they lost track of who actually possesses the title. If this has happened to your mortgage, then any foreclosure you are facing may be an illegal foreclosure.
This is why if you need foreclosure help, you should not hesitate to contact Tila Solutions to give you the foreclosure help you need. For over a decade, Tila Solutions has been looking out for the homeowner with their forensic loan audits and securitization audits. If you need help stopping foreclosure, a Tila Solutions Consultant is available by telephone at (702) 508-0335. Or you can visit the Tila Solutions website at bankruptcy and foreclosure.
We have seen the greed of predatory lenders such as Bank of America, JP Morgan Chase, Wells Fargo and others nearly bring this country to its knees over the last decade, and even still, we are discovering new examples of how they deliberately put homeowners into bad situations by approving predatory loans that they were well aware the homeowner would not be able to keep the payments up for. Their greed did not stop there, however. Predatory loans were not enough, they felt the need to engage in predatory foreclosures as well in order to not only increase their profits, but to cover up the massive amounts of mortgage fraud they had been committing.
One of the biggest problems that has lead to an incredible spike in predatory and illegal foreclosure cases around the country is the failure of banks to properly securitize home mortgages. Securitization is a process where the title is separated from the home loan so that the loan can be traded and sold as a security, in the same way stocks and bonds are traded on the open market. It is estimated that nearly 85% of all home loans issued in the last 10 years have gone through this process. Banks would cherry pick and bundle together loans they knew would end up defaulting and then sold them as a “safe” investment. Not only did they commit a massive amount of fraud by doing that, but they also failed to properly follow the securitization process. This means that if your lender is attempting to foreclose on your home, they may not actually have any legal right to since they lost track of who actually possesses the title. If this has happened to your mortgage, then any foreclosure you are facing may be an illegal foreclosure.
This is why if you need foreclosure help, you should not hesitate to contact Tila Solutions to give you the foreclosure help you need. For over a decade, Tila Solutions has been looking out for the homeowner with their forensic loan audits and securitization audits. If you need help stopping foreclosure, a Tila Solutions Consultant is available by telephone at (702) 508-0335. Or you can visit the Tila Solutions website at bankruptcy and foreclosure.