Mortgage Loan Fraud: Government Studies Show That 45% Of American Home Owners Have Been Overcharged
BEND, OR- According to government studies by the Federal Deposit Insurance Company (FDIC), the General Accounting Office (GAO) and others, mortgage loan fraud and home loan errors are costing average Americans 8 to 10 billion every year.
The most common home loan errors range from data entry and accounting errors to amortization and date errors. Some mortgage statements should be reviewed monthly while others can be checked for errors several times annually depending on the type of mortgage.
“After reading a recent study conducted by the State of New York regarding how many hard working people were being overcharged on their mortgage payments, I knew I had to help find a solution to help people recover the funds, ” said Andrew Way, Managing Director of http://www.BankBlunders.com. “I was astonished to see how many people were actually owed money by mortgage lenders. This is money they would never see unless they knew the problem existed and had access to the knowledge and the tools to fix it.”
A proprietary software package, the Refund Recovery System, was designed to scour through personal mortgage loan statements looking for errors and omissions on loans of all sizes and types. Once errors are discovered, affected homeowners are provided with the necessary forms and printouts of calculation errors to submit to lenders for instant cash recovery.
About Bank Blunders:
BankBlunders.com is dedicated to helping homeowners in the U.S. learn how to recover costs associated with mortgage loan errors and overcharging. The primary focus is using their proprietary software and educational information to search out errors in loan documents to recover any over payments due to homeowners. To learn more about mortgage loan fraud, visit www.BankBlunders.com.
- Contact Information
- Andrew Way
- Managing Director
- Contact via E-mail
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