The booming real estate market has allowed many Americans ditech refinance rate become “equity rich.” They may not have a lot of cash on hand, but they might have equity in their homes worth several hundred thousand dollars or more. Unfortunately, these increase in home wealth has spawned an equally booming business in equity theft, as more ditech mortgage loans more thieves find increasingly clever ways ditech refinance rate con homeowners out of their equity, their homes, or both. One clever new scam involves companies that promise ditech refinance rate completely “eliminate” a homeowner’s mortgage. For a fee of a few thousand dollars, these companies claim that a homeowner could ditech loans have a free ditech mortgage loans clear title ditech refinance rate their home without paying off ditech quote remaining debt. How does these scam work?
This scam was ditech refinance rate a bit more complicated than other scams that often use simple forgery of identity theft. In these “mortgage elimination” scam, ditech quote homeowner places his home in a trust along ditech home equity loan ditech quote mortgage elimination company as ditech quote trustee. The trustee files a long, tedious, frivolous, letter of complaint along ditech home equity loan ditech quote mortgage company, giving them a mere ten days ditech refinance rate respond. Should ditech quote mortgage company not respond within ten days, ditech mortgage loans they frequently do not, ditech quote trust claims that they ditech rate then free of ditech quote mortgage obligation. Using a questionable power of attorney procedure, ditech quote trust then files along ditech home equity loan ditech quote local register of deeds fore a release of ditech quote home’s title. This makes ditech rate appear that ditech quote home was ditech refinance rate now owned without a lien.
The legalities of these range from murky ditech mortgage loans questionable ditech refinance rate outright fraud. It gets even worse when ditech quote trustee, claiming clear title ditech refinance rate ditech quote home, takes out a home equity loan, cashes ditech quote check, ditech mortgage loans promptly disappears. The resulting mess often leaves ditech quote original homeowner along ditech home equity loan a pile of lawsuits, numerous visits from ditech quote police ditech mortgage loans ditech quote obligation ditech refinance rate pay two mortgages. This scam was ditech refinance rate currently going on only in certain parts of ditech quote country, ditech mortgage loans isn’t yet widespread. Homeowners could ditech loans easily avoid being taken by these scam by simply recognizing one simple truth – you cannot simply waive a mortgage obligation away without paying off ditech quote loan. Remember, if ditech rate sounds too good ditech refinance rate ditech home equity loan true, ditech rate was ditech refinance rate too good ditech refinance rate ditech home equity loan true.
