Welcome to UIC’s Mortgage Division
Our mortgage division is designed to:
- Educate homeowners and business owners about products and services that will saved them money on monthly bills.
- Determine if a homeowner is a victim of predatory lending practices by the current lender, original lender or loan officer.
- Determine if a homeowner is due financial compensation because they are victims of predatory lending practices.
- Connect homeowners with direct lenders or private money lenders that will help them strengthen their financial portfolios.
- Assist homeowners who are three to five months delinquent with their current mortgage payments to avoid foreclosure.
Let us help you save $100’s per month
If your home is not paid off, it is very likely you are paying the following expenditures associated with home ownership:
❶ Mortgage payments, ❷ Home owner’s insurance, and ❸ Monthly electric bills.
Please answer the following questions:
- Are you 100% satisfied with the terms of your current mortgage loan and mortgage payment?
- Are you 100% satisfied with your current homeowners insurance premiums and the benefits?
- Would saving an additional $300 per month make a significant difference to your household?
Nearly 6 million people can now cut their mortgage payment with refinancing.
The average interest for 30-year fixed-rate mortgages is nearing 4 percent again, ushering the way for millions more homeowners to save money by refinancing.
The recent drop in rates means that 5.9 million people can potentially save money by refinancing their existing home loans and securing a lower rate — two million more than last month, according to a new report by Black Knight. The combined savings totals $1.6 billion, or an average of $271 per person per month.
The sharp drop in rates comes as a surprise, as most experts were betting that rates would be on the rise, says Mark Hamrick, Bankrate’s senior economic analyst. For borrowers, however, this is an unexpected gift.
Let one of our loan auditors or financial professionals review your financial profile and connect you with the financial institution that will reduce your mortgage payment.
Many unsuspecting victims of predatory lending practices are Americans with good credit
Many hard working American homeowners with good credit and who are current with their mortgage payments are unsuspected victims of predatory lending practices.
What is the common definition of predatory lending practices?
Predatory lending includes any unscrupulous actions carried out by a lender to entice, induce and assist a borrower in taking a loan that carries high fees, a high-interest rate, strips the borrower of equity or places the borrower in a lower credit rated loan to the benefit of the lender. In addition, if you don’t speak English and your loan documents are not in your native language (and the lender did not translate your entire loan documents at the closing), you are a victim of predatory lending.
In fact, in 2011, Bank of America paid $335 million to 200,000 African-American and Hispanic homeowners (borrowers) to resolve allegations of a widespread pattern of predatory lending. Bank of America was accused of steering hardworking homeowners with good and excellent credit profiles into subprime loans. Subprime loans generally carry costlier terms, such as prepayment penalties and significantly higher adjustable interest rates that increase suddenly after two or three years.
Wells Fargo’s hands weren’t much cleaner. They agreed to pay $175 million to settle allegations that they steered minority homeowners into subprime loans in 2012.
Judge Elizabeth Magner of the Eastern District of Louisiana ruled that Wells Fargo improperly overcharged a homeowner more than $24,000 in fees due to a problem in the automated system the bank use to account for his loan payments. Judge Magner awarded that homeowner $3.1 million in punitive damages. Victims of predatory
The U. S. Department of Justice announced a $25 billion settlement with JP Morgan Chase & Company, Citicorp Inc., Ally Financial Inc., Wells Fargo, and Bank of America in 2012. The settlement resolved claims that the aforementioned national lenders were involved in predatory lending practices.
Victims of predatory lending are entitled to one or more of the following types of relief:
❶ Substantially reduced mortgage payment
❷ Substantially reduce the principle balance
❸ Financial compensation from the lender
❹ In rare cases, mortgage forgiveness.
Could you or somebody you know be a victim of predatory lending?
Let one of our loan auditors provide you with a complementary mortgage loan audit to determine if you are a victim of predatory lending. If violations are discovered, we will send your case to one of the nation’s leading mortgage loan auditing companies.
We have assisted homeowners with obtaining mortgage forgiveness, principle balance reduction, and substantial reduction of the mortgage payment. We have also helped 100’s of homeowners get out of foreclosures.
For Assistance in Pre-Foreclosure Status, Please fill out the form below.