Mortgage scams are still just as common as they ever have been, but lenders are often targeting a different group than before. Rather than going after young, inexperienced investors that are eager to buy their first home, mortgage scams on the elderly are becoming more prevalent. These mortgage scams are often centered around refinances, or reverse mortgages that promise the homeowner more disposable income. Unfortunately, the reality is that financial elder abuse like this often takes even more money out of pockets of older homeowners, making it impossible to keep up with their bills.
In some cases, these predatory lending practices are not different than the banks try with younger homeowners. Dual tracking, forged signatures and secularization problems are all examples of the types of violations that mortgage lenders commit to all age groups. The difference is that elderly homeowners have more protection under the law from predatory lenders. There are several different reasons why senior citizens have more protection from predatory lenders & mortgage scams. The most important thing that older homeowners need to know, is that there are attorneys that can help.
Our Los Angeles law firm has been helping homeowners sue mortgage lenders in California for the past several years. Recently, we’ve seen that more and more of the cases we’re taking on are for senior citizen age clients that were taken advantage of by their lender. Did a representative from the lender tell you one thing over the phone, but sent you paperwork to sign with different information? Was your interest rate increased without notification? These are just a couple of the ways that our attorneys are seeing elder financial abuse in California.
Is it Too Late to Do Something?
While time and statutes can have an effect on your case, there is almost always something that can be done to help your situation. Our team of experience mortgage attorneys work with elderly homeowners that believe they may be victims of a mortgage scam to find out what legal rights they have. Not only will we take the time to explore your immediate concerns, but we also do our research to get a complete picture of the situation for potential violations that you may not even be aware of.
The best thing that you can do is call a mortgage attorney to discuss your situation. We offer free consultations over the phone and in person for any homeowners that think they may have a case against their lender. If you are a senior citizen looking for legal advice or legal help regarding a mortgage scam, Consumer Action Law Group has the help you need.
Speak to An Mortgage Attorney Today
Don’t just hire any firm – hire the one that really knows how to fight for elder financial abuse and mortgage scams. We know the ins-and-outs of both the mortgage litigation process and elder abuse laws, and are armed with the tools needed to get you the result you deserve. Call today to speak with one of our mortgage lawyer that can start helping you tomorrow.