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I am a Victim of Countrywide Appraisal Fraud. Where Can I Get Help? – VR

“Dear Steve,

I am also a victim of Appraisal Fraud Countrywide now BofA. Resident in Northern Virginia. Where can/should I turn to seek council for my area. Everything I’ve read was for either California or New York.

Your feedback regarding Real Estate Law Center was extremely valuable. I had a clue when the first “dump” of email correspondence was all about how they are paid, so I did some research first and found your article. Thanks again.

Now wondering if any agency or firm is on this (i.e. Appraisal Fraud Countrywide now BofA.) in Northern Virginia? Thanks again

VR”

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The Answer

Dear VR,

I certainly don’t want to see you become a victim twice over so keep in mind there are a number of companies claiming they will represent you for a fee. Beware, many of these outfits are busting a bunch of laws, including the Mortgage Assistance Relief Service rules from the FTC.

I think there are things you can do first to prevent yourself from becoming a victim again.

The first step would be to see if your situation is covered by the National Mortgage Settlement fund that was agreed to by a number of states. You can find out more information about the fund here.

The second stop should be for you to meet with a local real estate attorney in your area. I would suggest you make an appointment to sit down with them and review your situation.

If you had an FHA guaranteed mortgage you could also call the FHA fraud hotline and inquire what assistance they have in place.

FHA Fraud Reporting:

Telephone: 1-800-347-3735
Email: [email protected]

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!

I am a Victim of Countrywide Appraisal Fraud. Where Can I Get Help?   VR
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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • VR

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  • VR

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  • VR

    Hello Steve. My challenge is that BofA/Countrywide, in order to make themselves look legit on paper sold a portion (i.e. the bloated appraisal portion) of the loan to Green Tree, changed my loan from interest only to P&I, and reduced my interest rate. This would also be fine and dandy with me, except I am still obligated to Greentree for another ~$84K at 7.5% of the BofA/Countrywide original loan. Ideally I am looking to get that amount extinguished because it is less than the amount I am underwater. I purchased at $615 with a down payment of $30K. I’d be lucky to get $400K today.

    I researched your direction to the settlement cases… problem is they point you to work with the servicer (i.e the mortgage company) under the MHA program. But BofA/Countrywide sold part of my financial obligation to ensure I do not meet the parameters of the program.

    So where do I go now?

    Also, as a follow up to the Real Estate Law Center thread we originally connected on, I was sent this “proof” of there work earlier this week. It is attached (in two sections). What do you think?

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