Contact: Ken Knox
Heritage Pacific Financial
Telephone Number 972-996-5100
Fax Number 972-996-5136
Contact email Address: firstname.lastname@example.org
Web site address http://www.heritagepacificfinancial.com/
“Heritage Pacific Financial Announces New Legal Strategy”
Dallas, TX November 2009 — Heritage Pacific Financial has established an in-house legal division and filed suit against 100 defendants in California for mortgage loan fraud.
Ben Ganter, Heritage Pacific Financial Director of Client Relations, announced the new strategy: “As the mortgage crisis has deepened in the last two years, it has become clear that a massive amount of mortgage loan fraud has been committed by borrowers who took advantage of laws that were intended to help low income buyers. This has hurt honest people who have been playing by the rules, making it difficult for them to get new mortgages. It has even hurt people who are not trying to get a mortgage right now, because this kind of fraud – in the amounts we are seeing – leads to reduced property values and a loss of confidence in the market.
“In addition to recovering damages in civil lawsuits, Heritage Pacific Financial will be working with the FBI and financial regulators to try to help identify people who committed the worst frauds. Hopefully, Heritage Pacific Financial can help end these practices and help return confidence to the mortgage marketplace.”
Preventing Mortgage Fraud with Heritage Pacific Financial
Heritage Pacific Financial is designed to help consumers educate themselves about mortgage fraud and learn how to avoid becoming either a victim or perpetrator of mortgage fraud. Unlike much of the information that is available regarding mortgage fraud, Heritage Pacific Financial emphasizes on the consumer aspects of fraud and fraud prevention, rather than those aspects that are mainly of interest to lenders and other mortgage professionals.
Heritage Pacific Financial knows that mortgage fraud is a growing problem. The FBI reported over 63,000 total incidents of actual and suspected mortgage fraud in 2008. Early figures found with Heritage Pacific Financial for 2009 show a rapid increase in suspicious activity as scam artists seek to take advantage of vulnerable homeowners in the weakened economy, with over 40,000 cases reported through the month of April. The problem is more acute in some states than others; in terms of relative numbers, the top 10 states for mortgage fraud activity in 2008 were California, Colorado, Florida, Georgia, Illinois, Maryland, Michigan, Missouri, New York, and Rhode Island.
Heritage Pacific Financial explains, in clear, straightforward terms what mortgage fraud is and why consumers need to be concerned about it. Heritage Pacific Financial outlines some of the more common mortgage frauds, how to protect yourself from fraud, warning signs of mortgage fraud and an overview of government and nongovernmental agencies that investigate mortgage fraud or can otherwise be of assistance in dealing with it. Heritage Pacific Financial provides a breakdown of resources where consumers can turn for help in dealing with mortgage fraud, including law enforcement agencies and regulatory bodies.
Avoiding mortgage fraud with heritage pacific financial
“Mortgage fraud has become increasingly common across the country, particularly as it relates to foreclosure rescue, loan modification scams and short sale scams,” says http://www.heritagepacificfinancial.com.
There are many organizations that can help you when facing financial problems or foreclosure, but it is more important than ever to make sure you are dealing with a reputable organization before getting involved like that of Heritage Pacific Financial. For more information visit http://www.heritagepacificfinancial.com. A good rule of thumb is that unsolicited help, whether in person, on the phone, or by mail should be fully researched before accepting any help.
Heritage Pacific Financial wants you to remember, you should never:
be charged a fee in exchange for housing counseling services,
be charged an upfront fee for services related to the modification of a delinquent loan,
or be pressured into signing paperwork you do not understand.
To protect your home and your equity and avoid falling victim to fraudulent schemes, it is important that you are able to recognize – and report – fraudulent activities as soon as possible. Contact Heritage Pacific Financial at http://www.heritagepacificfinancial.com for more information.
For additional information, contact: Heritage Pacific Financial, Ken Knox