Subprime Mortgages: Foreclosures, Investments, Predatory Lending 

Los Angeles, California Mortgage Foreclosure Attorneys

The subprime mortgage crisis has resulted in foreclosures, encumbered bank accounts, and bankruptcy throughout the state of California. In many cases, unorthodox underwriting methodologies and predatory lending practices resulted in inflated home prices and people qualifying for mortgage loans beyond their means. Consequently, when interests rates began to rise, millions of people suddenly faced mortgage payments they could no longer afford.

At the Los Angeles law office of Mesisca Riley & Kreitenberg, our lawyers critically evaluate the actions on the part of banks, mortgage companies, and investment firms in underwriting loans and bundling mortgage-backed investments for sale to consumers. In the case of foreclosures, we expose unusual underwriting practices in order to persuade banks to agree to a loan modification. In the case of encumbered bank accounts, we investigate investment patterns in order to uncover fraud or violations of fiduciary responsibility.

If you are facing foreclosure or have lost your bank account or money market account due to issues associated with the subprime lending crisis, contact the foreclosure attorneys at Mesisca Riley & Kreitenberg today.

Subprime Mortgage Foreclosure and Other Issues

The law office of Mesisca Riley & Kreitenberg represents clients in litigation involving the following:

• Predatory real estate lending practices
• Subprime mortgage underwriting irregularities
• Subprime mortgage foreclosures
  • variable rate
  • interest only
  • teaser rates
• Encumbered bank accounts
• Negligence / Fraud of Financial Advisors

Predatory Lending - How do I know if I have a Case?

In cases involving predatory lending, it's not unusual for lenders to engage in "bait and switch" tactics. Typically, borrowers are told one thing in order to get them interested in refinancing or borrowing, only to have the terms and conditions change at the time of signing. If these changes are noticed, an on-site lawyer representing the mortgage company or bank will be consulted in order to assure the borrower they have nothing to worry about. It's only after signing the papers that the person realizes the loan or refinancing arrangement in writing is quite different from what they were initially told

Alternatively, a lender may engage in unusual underwriting practices that deviate from industry accepted standards for ensuring a person qualifies for a mortgage. By misrepresenting or incorrectly reporting income and assets, a borrower is qualified for more money than he or she can reasonably afford. If you experienced bait and switch tactics, a change in mortgage terms, or were told not to worry about correctly reporting your income on your mortgage loan application, you may have a case.