<![CDATA[Consumer Protection - Koester Law, PC]]> https://www.koesterlawllp.com/ Mon, 14 Oct 2024 15:31:05 GMT en-us <![CDATA[Defenses to Mortgage Fraud in Illinois]]> https://www.koesterlawllp.com/blog/mortgage-fraud/ https://www.koesterlawllp.com/blog/mortgage-fraud/ Tue, 26 Feb 2019 18:33:51 GMT Mortgage fraud in Illinois and across the country covers a wide range of crimes, all pertaining to funding for a home. While an individual may falsify information to get a mortgage that they otherwise might not be able to afford, professionals also can be guilty of mortgage fraud. Real estate professionals can flip houses and…

]]> Mortgage fraud in Illinois and across the country covers a wide range of crimes, all pertaining to funding for a home. While an individual may falsify information to get a mortgage that they otherwise might not be able to afford, professionals also can be guilty of mortgage fraud. Real estate professionals can flip houses and work with appraisers to increase their own profits. Mortgage professionals can give loans out, knowing that the people shouldn’t be approved for a loan.

Because the crimes are so different, there are many defenses that come into play with mortgage fraud. Here are some common defenses that you and your lawyer may want to consider for your case.

  • False identity. Since many people steal other people’s information in order to buy or sell a home, your lawyer may fight that you didn’t know what was going on. Your identity could have been stolen or you might have been framed so there is no way that you knew about any illegal happenings that took place using your identity.
  • If someone else gets convicted because they stole your identity, they may also be accused of theft, along with mortgage fraud.
  • Property owner gave consent. Since most mortgage fraud cases are performed by professionals, you might be able to fight that the owner of the property gave their consent and you had good faith intent.
  • The property owner might be held accountable for mortgage fraud, instead of you.
  • Entrapment. Entrapment is another commonly used defense. Your lawyer must have evidence showing that you wouldn’t have committed mortgage fraud, unless you were forced to do so.

If you are looking at a case of mortgage fraud, you need an experienced lawyer to fight for you and your rights. A good lawyer will help you go through your options and potential defenses so together you can decide the best way to proceed. If you don’t have a lawyer on your side, you are leaving your fate in someone else’s hands. This can be a big mistake.

We are dedicated to protecting your money and identity. Don’t hesitate to contact us for any questions that you may have about identity and mortgage fraud.

]]> <![CDATA[Consumer Protection and Fraud Bill Helping Student Loan Borrowers in Illinois]]> https://www.koesterlawllp.com/blog/consumer-protection-and-fraud-bill-helping-student-loan-borrowers-in-illinois/ https://www.koesterlawllp.com/blog/consumer-protection-and-fraud-bill-helping-student-loan-borrowers-in-illinois/ Wed, 07 Jun 2017 16:11:31 GMT Despite the problems caused the lack of a state budget and the resulting disarray, Illinois has proven unwilling to wait for reform at the federal level, and has joined several other states considering laws that would protect student loan borrowers and heighten penalties against scammers targeting these individuals. With over $1.4 trillion in debt owed…

]]> Despite the problems caused the lack of a state budget and the resulting disarray, Illinois has proven unwilling to wait for reform at the federal level, and has joined several other states considering laws that would protect student loan borrowers and heighten penalties against scammers targeting these individuals. With over $1.4 trillion in debt owed by approximately 44 million Americans and the Illinois Attorney General reporting that student borrower complaints have increased dramatically in the last several years, the new law would provide much needed protections.

Illinois is considering passing a Student Loan Bill of Rights law. This law would require loan servicers to obtain a license in the state, which would allow for greater oversight in the state. Additionally, a special ombudsman would be created to act on complaints that residents made. The law is aimed at preventing fraud and abuse from loan servicers.

The state Attorney General has noted that Illinois borrowers often have problems making their loan payments. Her office has received  complaints from residents that loan servicers failed to inform them of affordable repayment options, to answer their questions in a consistent manner to follow borrower payment instructions. Due to the lack of information that many borrowers have from their loan servicers, scam artists may set up exploitative mechanisms that make false promises in exchange for large fees. The student loan crisis is being readily compared to the housing crisis.

If passed, the law would require loan servicers to properly process payments, to explain all of the repayment options available to borrowers and when borrowers may be able to get their loans forgiven. A number of more affordable options may be available to borrowers, such as deferment, forbearance, loan forgiveness or a repayment plan. Loan servicers would be prohibited from misleading borrowers.
Consumer fraud and protection lawyers may be able to assist individuals who are being defrauded by their creditors. They may pursue action on behalf of clients who receive harassing communications or who need debt relief. For more information on how consumer fraud and protection lawyers,  contact us.

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