Most likely you are not a victim of mortgage fraud, but you are a victim of predatory lending.

According to Wikipedia, “Mortgage fraud is a term used to describe a broad variety of criminal actions where the intent is to materially misrepresent or omit information on a mortgage loan application to obtain a loan or to obtain a larger loan than would have been obtained had the lender or borrower known the truth. In federal courts, mortgage fraud is prosecuted as wire fraud, bank fraud, mail fraud and money laundering, with penalties of up to thirty years imprisonment.

“Mortgage fraud is not to be confused with predatory mortgage lending, which occurs when a consumer is misled or deceived by agents of the lender. However, predatory lending practices often co-exist with mortgage fraud.”

Thus the definition suggests that the bank could not have been a perpetrator of mortgage fraud, but the Agent (or broker) could have been, and possibly the borrower could have been.  For this reason, many homeowners today are afraid that they are the guilty parties in Mortgage Fraud.

And why is this?  Because so often when a homeowner contacts the bank to say that he is suffering with a predatory loan, the bank suggests that perhaps he submitted a fraudulent or misleading loan application. Thus he is guilty of Mortgage Fraud.  There is nothing that will stop a homeowner in his tracks faster than a statement like that.  Now the poor homeowner, who is truly about to lose it all, is also worrying about mortgage fraud — seemingly that he committed.

However, the facts of the matter are that in the peak lending years, most American homeowners were willingly complying with the requests of their brokers, who were the agents of the bank.  The brokers, the bankers, or the lenders were the ones creating the criteria that prospective buyers needed to comply with. And the prospective borrowers complied.  In almost all instances, the borrower did not misrepresent!

How did we really end up as a nation in foreclosure?  It was simple:  The banks created loans that violated good practices as defined in the federal laws that protect the borrowers.  They put people into loans based upon their gross income.  Brokers and bankers created such loose criteria that anybody could get a loan.

Now, when all those predatory loans are wiping out the American homeowners, what are the banks doing?  They are crying “We are victims of mortgage fraud! We are the victims, not the borrowers who need to pay back every cent we ever gave them, plus more, more, more.  They lied to us.  Yah, that’s it, it is their fault.”  And so the American homeowner who has been raped and pillaged by the loan that the bank gave him, rests on his laurels desperately trying to figure out what to do.

He has been led to believe that it was “all his fault.”  That if he does get a forensic loan audit he will be the one found guilty.  Thus he has no hope of getting a loan modification or preventing a foreclosure.  It is all lies.

The sad fact of the matter is, however, that the homeowner is not the one who created the loan, he did not lie on mortgage application, nor did he create the criteria for qualifying for the loan.  He is the true victim here.  He is not guilty of mortgage fraud.  Somebody else is going to have to take that rap.

The American homeowner is actually the victim of a predatory loan.  The bank will try to convince him otherwise.  The bank will even foreclose on him, which a good securitization audit will show is in fact not even a legal foreclosure, thus, once again we see the bank as the fraudulent entity as they now impose fraud upon the court by trying to claim that they are the legal owners of the loan and thus have the right to foreclose.

The banks created predatory loan products, then sold them repeatedly and erroneously, which caused the critical documents to be separated.  They didn’t care, they had made their money — let the chips fall where they may.  The banks are the perpetrators of mortgage fraud.

It is time for the American homeowner to take pride in his own ethics and values and know that they remained intact and with a guilt-free conscience, contact a company like Tila Solutions who can help him using both Forensic Loan Audits and Securitization Audits to find the real truth of how he has been preyed upon by the banks. Further, Tila Solutions can help him get a loan modification by referring to a reputable loan mod attorney.  If a loan mod is no longer an option they can discuss quiet title with you and again refer you to an appropriate legal professional to assist you in pursuing that avenue with your securitization audit.

It is also important to remember that the banks don’t want their dirty laundry aired.  They’ve taken a beating in the media, so they’d be much happier to just foreclose on the homeowner after laying on him a false guilt trip.  Clean and easy for the bank!

Tila Solutions will provide the real truth.  The homeowner can use that truth as a real defense.  So if you think you have a fraudulent loan, chances are somebody is guilty of mortgage fraud, but it isn’t the American Homeowner.  Take action, and stop foreclosure.  Call Tila Solutions at (702) 508 0335.  They can help.