Once again I cannot stress enough how important it is for anyone facing trouble with making his/her mortgage payment to contact their lender immediately to find a solution. Lenders are working hard to making it possible for anyone to make their payments on time. It is best for a lender to find an arrangement as opposed to going through foreclosure process as it costs a lot of money for a lender to foreclose a property.
Two men in San Bernardino, Calif., face charges of scamming at least 25 home owners on the verge of foreclosure into fake refinancing agreements, affecting more than $17 million in home loans, prosecutors say.
Stephen Andrew Easterly, 47, and Emanuel Percival, 36, face 45 criminal counts and were arraigned on Monday.
Prosecutors say the men told home owners’ facing foreclosure that they could refinance their loans and lower their monthly payments. The victims allegedly paid the men between $3,500 and $7,000 to participate in their program, according to the San Bernardino County District Attorney's Office.
However, the home owners say instead of getting their loans restructured, they ended up with two outstanding home loans, and their homes ultimately went into foreclosure.
Prosecutors say that the men allegedly signed documents as "authorized representatives" of several banks, and that one of the men also is accused of creating fictitious checks and mailing them to banks.
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