Real estate fraud has gained ground over the last decade. There’ve been many industry professionals engaging in a variety of acts that enrich their bank accounts while defrauding others. This includes divesting a person from a title and vesting that title into someone else’s name, who will be doing this with the full intent of defrauding the lender and preventing them from a foreclosure on the property that may be very delinquent on their mortgage payments. It may also be a breach of contract in something in which an arms-length condition of a sale of the property was in violation. When this happens, lenders agree to short-term payoffs and all parties are colluded and have side agreements that aren’t allowed in such short-term payoffs. Clearly, there is much going on in the real estate and the mortgage business that calls for lawyers with real estate experience in the Los Angeles area to be in demand.

Mortgage Fraud – Short Sale Fraud Lawyers Serving Los Angeles CA

Short sale fraud is a hot topic here. It may include those who intend to take homeowners away from their equity and perhaps to inhibit lenders from receiving the best and the highest offers on properties to huge losses. There are many unsuspecting homeowners who have fallen prey to such acts and if they aren’t quite savvy enough to follow up on a few of the details and understand the results of accepting such losses, they can wind up losing out on a lot of money. This can translate into deficits in the balances and lenders may have no other recourse than to put a judgment against the home. It can also result in a judgment against the person and against their taxable events to the sellers.

Other forms of fraud include the “bait and switch” technique. This is accomplished by luring a homeowner into an agreement wherein they will contract with a specific company who for a profit will negotiate, arrange and apply on that client’s behalf. They then charge ridiculous fees and this is in violation fo the California Senate Bill 94. Ater a period of time, the homeowner feels helpless (and this is just what they want to happen) and will feel as if they have to sell to maintain their good standing. They have fallen prey to the exact intent of such villains. They just want the homeowner to panic and sell the home where they will swoop in and “bird dog” the home. This is, of course, their intention and they will earn a hefty commission in this scenario. While this may not be illegal, the agent has failed to declare that they are doing this and that the transaction is in violation of the fiduciary responsibility of the homeowner. Experienced real estate lawyers can help with these deceptive manipulators if you’re in the Los Angeles area.

Law Offices of Shahin Motallebi – Free Consultation

These are just a few of the ways that real estate and mortgage fraud can claim your money. Keep in mind that there are ongoing claims and torts against such persons and that real estate professionals may have a very short shelf-life when it comes to statues of limitations. Thus, you’ll want to explore all claims and ensure that they are real and that you’re not being taken advantage of. Be sure to contact a Los Angeles real estate attorney to protect your personal funds and assets. Take all reasonable precautions.

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