Real Estate Fraud Lawyers
Are you a victim of mortgage foreclosure sale/lease-back scheme? Have you lost your home as a result of fraud?
If so, you may have a claim for money damages.
Contact Us. We can help.
In light of the current economy and decline in the housing market, mortgage foreclosures have skyrocketed leaving numerous people struggling to keep their homes. Unfortunately, individuals and companies have preyed on homeowner’s vulnerability and have defrauded them out of their homes. The fraud involves individuals and/or companies making false representations to homeowners who are facing imminent foreclosure.
What is a foreclosure sale/lease-back agreement?
A foreclosure sale/lease-back agreement is an arrangement wherein an individual and/or company entice a homeowner to enter into an agreement with a third-party (known as a “straw buyer”). The homeowner is told that he/she is making a short-term sale of the home to the straw-buyer in order to allow the homeowner to remain in the home while getting back on their feet. During this time, the homeowner pays rent to the straw-buyer. Unbeknownst to the homeowner, the straw-buyer takes out additional mortgages on the home, thereby draining any equity in the home. In addition, the straw-buyer does not apply the rent payments to the mortgage. At the end of this scheme, the homeowner has lost most or all of the equity in their home and still faces foreclosure.
This fraudulent scheme violates various laws including the Racketeering Influenced and Corrupt Organization Act (“RICO”) and the Consumer Fraud Act. The Consumer Fraud Act provides that the defrauded consumer can recover “treble” (triple) damages, plus attorneys’ fees and expenses.
If you have been a victim of this type of fraud, you may be able to recover money damages.
Who Is Frier & Levitt And What Can Frier & Levitt Do To Help Me?
Frier & Levitt, LLC is a law firm that successfully represents clients in lawsuits and arbitrations before the Superior Courts of New Jersey and New York, as well as the Appellate Divisions.
At Frier & Levitt, LLC, it is our goal to provide you with superior legal representation and personal attention. Upon engaging us, we will immediately devise and begin to implement the most expeditious and cost-effective strategy to obtain money damages for your loss. We will keep you informed every step of the way as we work together to achieve success.
Frier & Levitt, LLC welcomes the opportunity to be of service to you. We will represent you on a contingency basis. This means that we only get paid if we get you money. By agreeing to allow us to represent you on a contingency basis, you do not have to incur any up-front attorneys’ fees to obtain money damages.
The law firm of Frier & Levitt, LLC successfully represents individuals who have been the victim of consumer fraud.
For more information about whether you have a claim for money damages, or to discuss how Frier & Levitt, LLC can assist you in obtaining legal relief, please feel free to call us at (973) 618-1660, or toll-free at (888) LEVITT1 (i.e., 888-538-4881).