Real Estate News About Woodbridge Virginia
Homes For Sale In Woodbridge VA
Foreclosure Fraud And Fake Foreclosures Are Popping Up All Around
When you buy a home with a home loan from a mortgage banking company, your loan will be sold by your lender to another bank.
If you own a home, and you get notice that your home loan shall be sold to another bank, telling you where and how you will make your payments, you MUST obtain TWO letters, or you could become another victim of loan fraud.
For example, pretend you have your monthly mortgage payment East West Mortgage Company since you bought the house last year.
One day, you get a letter from North Star mortgage company saying East West sold your loan to North Star, so please send all future payments to a post office box in a city far away.
If East West truly sold your mortgage to North Star, you will also get a letter from East West Mortgage telling you that North Star Bank bought your loan, and East West will tell you to send future loan payments to the EXACT same address given in the letter from North Star Bank.
BEWARE!!
Thousands of home owners fall prey to FAKE mortgage sale letters from crooks who crank out tens of thousands of FAKE "Your loan has been sold..." letters.
Most folks have been warned about fake loan sale letters by their lender, their Realtor, and friends.
The crooks know their scheme is a "Numbers Game". Send out ten-thousand letters, and if just 1% of the recipients fall for the scheme, that's 100 victims sending the crooks hundreds of thousands of dollars for a month, maybe two. By the time the FBI pounces, the crooks have already abandoned the post office box they rented under a fake name; the checks have been deposited in a bank, withdrawn, laundered, and sent to an off-short private bank.
Most folks have been warned to obtain a loan sale letter from their current lender, in which the name and address of the new mortgage company is stated. Next, compare the letter from the loan company that buys your loan to the letter from the company that is selling your loan.
Be sure the two letters support each other.
If you have any doubts whatsoever, just call the mortgage company that has processed your payments, and get confirmation from Customer Service.
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Erick Blackwelder or Peggy James of Erick and Company - Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-590-2252 list your property for sale or to purchase a property in Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Cannon Bluff, Meadowbrook Woods, Blooms Crossing, Manassas Park, Beaver Creek, Hunter's Ridge, Brittany, Manassas, Montclair, Dumfries, Occoquan, Dale City, Nokesville, or anywhere in Prince William County.
President Lyndon Johnson lead a vigorous campaign through the halls of Congress that lead to Fair Housing legislation. The Republican Party members in Congress backed Fair Housing, while most of the congressional Democrat Party members opposed Fair Housing. Johnson, a Democrat, worked the phones day and night, calling congressional Democrats, calling in favors that persuaded enough Democrats to cross party lines and vote for Fair Housing, and against their party leaders.
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