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Report: #548522

Complaint Review: SunTrust Mortgage - Internet Nationwide

  • Submitted:
  • Updated:
  • Reported By: Craven — Huntington Indiana United States of America
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  • SunTrust Mortgage Nationwide United States of America

SunTrust Mortgage SunTrust Mortgage engaged in Predatory Lending to get my loan through Internet, Nationwide

*Consumer Suggestion: Yes there is something you can do!

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In 2006 we began looking for a new home that would accomodate our family of 5 as well as my home based business. I had been working with a local Realtor and she had told me that based on my previous years self employment earnings and credit score that I would only qualify for a home at around $100,000 with 10% down. Online calculators had suggested a maximum mortgage payment of $800 per month.

 After looking at many homes in this price range we just couldn't find one that would fit all of our needs. So we just decided to wait awhile. Then I got a call from the realtor and was told to come in and speak with a mortgage broker about a NO PROOF OF INCOME LOAN.

 I went in and spoke with the broker and he took my info and shopped around for a company that may do a loan like this. He told me that Suntrust Mortgage was doing this type of loan and that he had been speaking with them on my account. He said I should just look around at some of the higher priced propertiues to see if we could find a house my family liked.

 Well we set up several other viewings and the realtor added a few that they thought we should see as well. We looked at a few different homes and then we were told about a new property that just came on the market. She said we should see this one.

 We met her at the property which was located on 10 fully wooded acres with a large building that was perfect for a home business. The house itself was a jaw dropper. Over 4000 SQFT and just amazing. My kids instantly fell in love as well as my wife with this one. BUT the price was $350,000. $250,000 more than I was told I could get.

 Anyways, I told the realtor that my family loved this house. They said to come in and talk with the Broker. Well I go in and he said that all he needed was last years tax returns and just a high estimate on what I thought I would earn in 2006. I could then get a loan up to $400,000 with no money down but that I would have a slightly higher interest rate because of the type of loan. He then filled in some numbers and made a few calls back and forth with Suntrust. To my surprise he says he got it approved.

 At this point my family was very excited and I just couldn't let them down. He told me the payment would be around $2800 a month. Current mortgage was $500. I made an offer, got the home, and have worked myself to death for the last 3 years to pay for this home. Now I am facing foreclosure because the payments just were too much to handle. Is there anything I can do? Can someone help? The mortgage was sold to Chase Mortgage.

 

This report was posted on Ripoff Report on 01/01/2010 05:27 PM and is a permanent record located here: https://www.ripoffreport.com/reports/suntrust-mortgage/nationwide/suntrust-mortgage-suntrust-mortgage-engaged-in-predatory-lending-to-get-my-loan-through-i-548522. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Suggestion

Yes there is something you can do!

AUTHOR: nrsrchd - (United States of America)

POSTED: Saturday, January 02, 2010

First you can gather up all you documents.  Then obtain a certified forensic mortgage audit.  The audit process will stop the foreclosure while the audit is being done. The company that can provide the audit you need is endlessfrauddetection.com.  They provide a complete audit that is state specific as well as to the local municipality.  Once the audit is complete a RESPA letter or a letter of rescission will be created.  The RESPA letter is asking for more information.  The letter of rescission will ask for all money paid in back and then start over with the negotiation.  Add the money from the rescission to the fines for the violations and if that total is more than the price of the house they owe you.  If it is less then you simply apply the returned money as down payment along with the fines and negotiate the rest for say 1% since they violated several laws and now they know that you know how to make sure they did the paper work right, they wont mess this set up.  See the fraud is in the paper work and that is where the crime is.  It must be treated as such and given a thorough going over, just like on CSI.  Now to top it off they will also create all your litigation support paper work for your lawyer to file in court.  90% of his work is done for him, now you can hire him by the hour or on contingency, which ever you can work out. The paper work includes all the supporting case law and law violated.  They also have a radio show, Endless Fraud Detection radio show and can be found on the top of the home page.  There are two networks that the show is on and the rule of law network, the Dec 3 and 17 show have a client of theirs talking about his 17 violations, 11 of which were rescindable.  It only takes one to rescind a mortgage.  Now for those is Florida if you are using a lawyer for a foreclosure, this notice was sent to over 48,000 members of the Florida Bar.  Now as for other states doing this I am not sure but just found this and thought I would share so those in Florida will know if their lawyer is doing right by them.    

Your clients defense against foreclosure is incomplete unless you file the Omnibus Motion to Cancel the Mortgage-Now ! If the mortgage was converted into a security, the conversion rendered the mortgage unenforceable. Dont simply delay foreclosure; end it by canceling the mortgage. If you are defending a client whose mortgage was converted into a security from foreclosure, your defense is incomplete unless you file this motion.  You have a professional obligation to raise this defense. Cancel the Mortgage-Now! will become the new rallying cry to defeat mortgage foreclosure.

(((Redacted)))
/OMNIBUS%20MOTION%20OPENS%20NEW%20FRONTIER%20FOR%20DEFENSE%20OF%20FORECLOSURE.html


Hope this information helps.
Nrsrchd

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