Paul S. Saved His House After Being A Victim Of Predatory Lending In Miami
We met Paul at a Credit Counseling Seminar where Antonio Lopez gave a presentation about our We Buy Houses in Miami service. Antonio’s message resonated with Paul since he had lost his job and been unable to make mortgage payments for some time. He had recently received a notice of foreclosure for his home in Miami. Paul didn’t understand why his loan balance would increase month after month, and he was ready to throw in the towel and let his house go to foreclosure.
After seating with Antonio in his residence, we found out that there were actually some irregularities with his loan. Paul was a victim of predatory lending, and he was being charged exorbitant fees for items that were not listed on his mortgage or promissory note. Moreover, the lender had no easy way to be reached. All numbers listed where either disconnected or went to voicemail.
We had to involve our attorney to send to finally get the attention of the lender. Our attorney explained to the lender why Paul had defaulted on his mortgage and how the fees they had been charging where not disclosed and therefore illegal. The lender agreed to refund $25,000 in fees and postponed the missed payments with a forbearance agreement. We worked to increase Paul’s credit score with our credit counseling experts and were able to refinance Paul loan with a low fixed APR mortgage with a reputable bank.
Even though we didn’t make any profit from Paul’s home, we were happy to assist him in getting back on his feet. However, since Paul was happy with us, he referred us to his cousin Kenneth who was going through a similar situation. We were able to help Kenneth and we profited in the process as well.
For us, helping out people in the community who are in distress is our priority, profits comes last. We know if we genuinely help, profits will come. This philosophy has been our business model since our humble beginnings.
If you are having trouble with your mortgage, or have an unwanted property you need to sell, give us a call. We Buy Houses in any condition, with no equity or even negative equity. We can help you negotiate with your bank and avoid foreclosure. The number to call is 1-800-234-4361.