Feds admit Independent Foreclosure Review was a mistake and cancel the program for an $8.5 Billion Bank Settlement.

The Jackson Free Press just released confirmation that the Independent Foreclosure Review has officially been cancelled and replaced with a large bank settlement.  The federal government is shelling out $8.5 billion to 10 banks that were “forced” to carry out the review.  Here’s the breakdown:

10 banks have agreed to pay a total of $3.3 billion in cash to the 3.8 million borrowers who had been eligible for the review. That’s an average of around $870 per borrower. But typical of a process that’s been characterized by confusion, delays and secrecy, regulators said the details of how the money will be doled out were not yet available.

The headline number for the settlement is $8.5 billion, but that includes $5.2 billion in “credits” the banks will receive for actions they take to avoid foreclosures, such as providing loan modifications. That’s very similar to the separate $25 billion settlement reached last year between five banks, 49 states and the federal government. That settlement has been criticized for awarding credit to banks for things they were already doing.

A year wasted and the banks are receiving $5.2 billion in credits from the government to be applied towards actions they take to avoid foreclosures.  This would include loan modifications, etc.

How does the bank settlement affect you?

The Independent Foreclosure Review was supposed to help Americans avoid foreclosure.  In the year it was in effect, foreclosure rates were still at an all time high and hardly anyone was actually “helped” in the process.  In essence, the banks caused the foreclosure crisis through poor lending practices and now the government is reimbursing them with credits for fixing it. That’s $5.2 billion in credits to be exact – of YOUR tax money.

Wanted to take part in the Independent Foreclosure Review but didn’t?

If you had planned to take part in the Independent Foreclosure Review but missed the deadline for submitting your application, we can offer you an alternative.  By contacting one of our securitization audit specialists today, we will perform a preliminary review of your mortgage documents to determine if there may be evidence of fraud.

The securitization auditors Fraud Stoppers uses are some of the best in the nation and our mortgage audits have a reputation for holding up in a court of law.

The mortgage audits Fraud Stoppers has available are among the best in the industry and are used by attorneys across the nation and have been featured in major news services such as The Boston Globe and San Francisco Chronicle and have been used to obtain:

• Loan modifications with principal reductions
• Foreclosure dismissals
• Overturn foreclosures
• Quiet Title lawsuits
• Settlements and damages

Stop Foreclosure with FRAUD STOPPERS: Expert Mortgage Fraud Defense and Homeowner Empowerment

Foreclosure occurs when the owner of a mortgage seizes the property to repay the debt because the borrower has failed to make timely payments. Foreclosure can also be triggered by other issues, such as failing to maintain the property or attempting to transfer the title without paying off the mortgage. The foreclosure process typically involves missing payments, receiving a demand letter, and then a notice of default. The duration of the process varies by state, but it ultimately results in the loss of the property, its sale to someone else, and the need to move out.

To avoid foreclosure, borrowers have options such as paying off the entire debt or seeking assistance from the bank. Banks are usually willing to work with borrowers to help them keep their homes, offering tools like forbearances for temporary hardships or short refinancing to reduce the loan amount. However, if foreclosure cannot be avoided, it has significant consequences. A foreclosure stays on the credit record for seven years, and the borrower may still be liable for any outstanding balance on the mortgage that the lender couldn't recover through the property sale.

The impact of widespread foreclosure can be detrimental to the real estate market. During the Great Recession, numerous foreclosures caused significant drops in real estate prices, especially in areas where borrowers had negative equity and felt no loss by walking away from their homes. In 2008 alone, over 2 million homes had at least one foreclosure filing. This high number of foreclosures had a substantial effect on the housing market, leading to depressed prices and a surplus of homes for sale.

FRAUD STOPPERS is an organization dedicated to helping homeowners facing foreclosure by providing assistance and resources to stop the process. They specialize in identifying and exposing fraudulent practices by mortgage lenders, servicers, and foreclosure attorneys. By utilizing their expertise, homeowners can take proactive steps to challenge the validity of their mortgage and potentially halt the foreclosure process.

FRAUD STOPPERS offers various services to support homeowners in their fight against foreclosure. They provide educational materials, including guides and videos, to help individuals understand their rights and navigate the complex foreclosure system. Additionally, they offer access to a network of attorneys and legal experts who specialize in foreclosure defense. These professionals can review mortgage documents for any signs of fraud or violations of lending laws, which can be used as leverage to negotiate with lenders or challenge the foreclosure in court.

By utilizing the resources and expertise provided by FRAUD STOPPERS, homeowners have a better chance of stopping foreclosure and protecting their homes. Through their comprehensive approach to foreclosure defense, FRAUD STOPPERS aims to empower individuals and level the playing field against unscrupulous practices in the mortgage industry.

When it comes to protecting yourself from fraudulent practices, you need a trusted partner by your side. That's where Fraud Stoppers comes in. With our extensive range of services and dedicated team of professionals, we are committed to helping individuals like you combat fraud and safeguard your rights. Whether you need assistance with litigation support, foreclosure prevention, expert testimony, or legal education, Fraud Stoppers is here to provide comprehensive solutions tailored to your needs.

How Can We Assist You?

1. Bloomberg Securitization Audits & Litigation Packages:
Our team of experts specializes in conducting Bloomberg securitization audits and providing litigation packages. By thoroughly analyzing the securitization process, we can uncover any irregularities or fraudulent activities that may impact your mortgage or loan. These audits serve as a crucial foundation for building a strong legal case.

2. Chain of Title Investigations & Litigation Packages:
Fraud Stoppers conducts meticulous investigations to determine the validity of the chain of title associated with your property. Our litigation packages equip you with the necessary tools to challenge any flawed documentation and protect your property rights. We leave no stone unturned in ensuring the accuracy and legitimacy of your title.

3. Expert Witness Affidavits & Testimony:
Our team includes experienced professionals who are available to provide expert witness affidavits and testimony. Their deep knowledge and expertise can be invaluable in supporting your legal case and strengthening your position in court. We ensure that you have a trusted expert by your side who can provide accurate and compelling testimony.

4. Stop Foreclosure Services:
If you are facing the threat of foreclosure, Fraud Stoppers can help you navigate the complex process and explore options to halt the proceedings. We offer comprehensive foreclosure prevention strategies designed to buy you valuable time and protect your home. Our team will work tirelessly to ensure that your rights are upheld and that you have the opportunity to fight for a fair resolution.

5. Wrongful Foreclosure Lawsuits:
If you believe you have been a victim of wrongful foreclosure, Fraud Stoppers can assist you in filing a lawsuit to seek justice and compensation. Our team has extensive experience in handling wrongful foreclosure cases and will fight tirelessly to protect your rights. We understand the devastating impact of wrongful foreclosure and are committed to holding the responsible parties accountable.

6. Quiet Title Lawsuits:
Fraud Stoppers can help you clear any clouds on your property title by initiating quiet title lawsuits. Our legal experts will guide you through the process, ensuring your ownership rights are safeguarded. We understand the importance of a clear and marketable title and will work diligently to resolve any disputes or issues that may hinder your property rights.

7. Professional Paralegal Support:
Navigating legal proceedings can be overwhelming, which is why Fraud Stoppers provides professional paralegal support. Our highly skilled paralegals are well-versed in various legal processes and can assist you with document preparation, research, case management, and more. We aim to streamline your legal efforts and provide the necessary support to maximize your chances of success.

8. Nationwide Attorney Network:
Through our extensive nationwide attorney network, Fraud Stoppers can connect you with skilled attorneys who specialize in fighting fraudulent practices. These legal professionals are dedicated to protecting your interests and providing you with the best possible representation. We carefully select attorneys with a proven track record of success in fraud-related cases, ensuring that you have a strong legal advocate on your side.

9. Legal Education and Training:
At Fraud Stoppers, we believe in empowering individuals with knowledge. We offer legal education and training programs designed to help you understand your rights, navigate legal complexities, and make informed decisions. Our educational resources cover a wide range of topics related to fraud prevention, foreclosure defense, consumer rights, and more. By arming

yourself with knowledge, you become better equipped to protect your interests.

10. Loan Modification Audits & Litigation Packages:
If you're considering a loan modification, Fraud Stoppers can conduct audits and provide litigation packages to ensure that the process is fair and compliant with the law. Our experts will review the terms of the modification, analyze the lender's actions, and identify any potential fraudulent practices or violations. With our support, you can pursue a loan modification that truly benefits you.

11. Auto Loan Audits & Litigation Packages:
Fraud Stoppers offers audits and litigation packages specifically tailored for auto loans. We thoroughly examine the terms of your auto loan, including interest rates, hidden fees, and potential violations of consumer protection laws. If any fraudulent practices are discovered, we will assist you in pursuing legal action to seek appropriate remedies.

12. Student Loan Audits & Litigation Packages:
Student loans can be a significant financial burden, and fraudulent practices in the student loan industry are not uncommon. Fraud Stoppers can assist you in reviewing your student loans for potential fraud or predatory practices. Our experts will conduct audits and provide litigation packages to address any issues, ensuring that your rights as a borrower are protected.

13. Credit Card Loan Audits & Litigation Packages:
Credit card loans often come with complex terms and conditions that can be exploited by unscrupulous lenders. Fraud Stoppers specializes in auditing credit card loans and providing litigation packages to challenge unfair practices, such as hidden fees or illegal interest rates. Our goal is to help you fight back against predatory lending and seek fair treatment.

14. Debt Settlement Negotiations:
Debt settlement negotiations can be complex and challenging, but with Fraud Stoppers on your side, you can navigate this process with confidence. Our team has extensive experience in negotiating with creditors to reach favorable settlement agreements. We aim to reduce your financial burden and help you regain control over your finances.

15. Bankruptcy Paralegal Support:
For individuals considering bankruptcy as a means of finding financial relief, Fraud Stoppers offers professional paralegal support. Our knowledgeable paralegals will guide you through the bankruptcy process, ensuring that you fulfill all necessary requirements and maximize the benefits of bankruptcy. We understand the intricacies of bankruptcy law and will provide the assistance you need to achieve a fresh financial start.

Lendingwise: Streamlining Your Efforts

Fraud Stoppers is proud to offer Lendingwise, our innovative CRM system designed to streamline your efforts and provide you with essential tools and resources. Lendingwise offers a wide range of features, including:

- Calculate Your Financials: Easily assess your financial situation and explore various scenarios to make informed decisions.

- Summary Findings and Proposals: Receive comprehensive summaries of findings and proposals tailored to your specific situation.

- Auto-Generate Forms & Documents: Save time and effort with automated generation of necessary forms and documents.

- Supporting Document Checklist: Access a comprehensive checklist of supporting documents required for your case or legal proceedings.

- Description of Loss Mitigation Programs: Understand the various loss mitigation programs available to you and their specific benefits.

- State Specific Foreclosure Laws: Stay informed about the foreclosure laws specific to your state, empowering you with the knowledge you need to protect your rights.

- How to Escalate or Appeal a Loan Mod Denial: Receive guidance on how to escalate or appeal a loan modification denial, ensuring you have avenues to seek a fair resolution.

- Links to Important Resources: Access a curated collection of important resources, including legal references, educational materials, and additional support networks.

Save Time and Increase Your Chances of Success

Fraud Stoppers understands the value of time and the importance of efficient solutions. That's why we offer autogenerate documents that can provide immediate relief and lay the groundwork for litigation. These documents include:

- A Tort Letter to Stop

Foreclosure Sale: If a foreclosure sale is imminent, this letter can help halt the process and buy you valuable time.

- Error Resolution & Information Request Letter: This letter demands a physical inspection of the original, wet-ink-signature loan documents to uncover any potential irregularities or violations.

- Qualified Written Request Letter: This letter aims to uncover and verify accounting errors and violations to strengthen your legal case.

- Federal Debt Validation Letters: These letters help gather material facts needed to exhibit to your complaint, providing a solid foundation for your legal proceedings.

- TILA Rescission Letter: Utilize the federal Truth in Lending Act and the groundbreaking Supreme Court case decision Jesinoski v. Countrywide to rescind your loan, should violations be identified.

- Home Modification Report: This report assesses the suitability and fairness of proposed home modifications, ensuring that they align with your best interests.

- Financial Summary: Gain a clear overview of your financial situation, helping you make informed decisions about the best course of action.

- And More: Our comprehensive range of documents and reports is designed to support your specific needs and legal objectives.

Fraud Stoppers is your trusted partner in fighting fraudulent practices. We are dedicated to protecting your rights, uncovering fraud, and seeking appropriate remedies. With our extensive range of services, professional support, and innovative tools like Lendingwise, we empower you to take control of your financial well-being. Don't face fraud alone—contact Fraud Stoppers today and let us fight for the justice you deserve.