Don't Bite! You Have Rights. You Have Remedies.
Warning: If your mortgage company is offering to lock in your current, low interest rate before it re-adjusts — or — re-write or revise your loan terms in any way...
Do not bite on these offers unless and until you know if you've got a legal case against them.
If you bite on their offer to freeze your current interest rate or re-write the loan without first knowing if your mortgage was an illegal loan in the first place, you may be making your original bad decision even worse!
While these offers might sound like a good deal — especially while you and your family are hurting — if you take this bait, don't be surprised when you feel the hook.
BAD! Based on our analysis of mortgage companies who are actually making these offers, some are charging fees to re-write or freeze the interest rate on your mortgage loan. That's amazing, especially since they are partly or entirely responsible for putting you into this position in the first place!
WORSE! There's an excellent chance you'll be signing away your legal rights to go after your mortgage company if you should discover that they violated your rights as explained on this website.
“Fool me once, shame on you.
Fool me twice, shame on me!”
Educating you is our #1 priority. 
NowWhatDoYouDo.com was created to:
- Help you understand what Predatory Lending is and;
- Help you figure out if you’re a victim.
We've worked hard to pull back the curtain of confusion about the subprime debacle and give you pull-no-punches insights and behind-the-scenes stories you can't find anywhere else…
In the Are You A Victim? section we open your eyes to some of the most common violations of the federal laws that may relate directly to your situation — in terms you can understand.
The It’s Not Just Subprime Loans section puts a spotlight on some of the games the mortgage industry has been playing with unsuspecting borrowers.
The Who Originated Your Loan? section runs down the list of the top subprime mortgage originating companies of the last few years. If your mortgage originator is on the list, you may want to do more research to figure out if your situation was mishandled.
Your Rights
Part 1 You have a right to enter into a contract that is in compliance with the Fair Housing Act and the Truth In Lending Act. If the creation of your mortgage was in violation of these laws, you have a case.
Part 2 If the person or company originating your mortgage violated these federal laws, you may have the right to pursue all remedies available to you, as outlined by the laws referenced above, and enforced by the Department of Housing and Urban Development (HUD).
Part 3 In order to determine whether your rights have been violated anywhere along the line, from loan origination through making your monthly payments, you will need a comprehensive audit of your mortgage loan origination and mortgage servicing files.
Part 4 You are entitled to a Net Tangible Benefit Pro Forma (also called a Net Tangible Benefit Disclosure in some states) , which the lender must provide you to show how you will benefit from any proposed changes to your note.
How do you get an audit?
We have finalized our strategy and are pleased to announce the launch of VoidMyMortgage.com in July, 2008. Led by one of the top Fair Housing Act and Truth In Lending Act experts in the nation to guide you through the process, VoidMyMortgage.com will allow homeowners to have a comprehensive mortgage audit performed.
 Distressed homeowners will know within ten business days (of providing all of the documents necessary to begin the audit) whether or not they have a case. If they do, they'll be able to take immediate action by either hiring legal counsel on their own or to allow the lawyers, auditors and accountants working in conjunction with VoidMyMortgage.com to work, on a best-efforts basis, towards resolving their mortgage nightmares on their behalf with their mortgage company. Needless to say the entire process is possible only after it's been established that your mortgage company violated your rights.
Click here to sign up for our e-mail list so you'll be notified as soon as VoidMyMortgage.com launches.
Your Remedies*
If it is determined that your rights have been violated, depending on the number, type, and degree of violations, your remedies could include, but not be limited to, the following:
- Refund! The mortgage company or current owner/servicer of your note may have to refund all monies paid by you to the mortgage company since the inception of the loan:
- If you decide that you do not want to continue living in the house, they may be forced to write you a lump sum check for the total refund amount or;
- If you decide to stay in the house, the mortgage company may opt to credit the amount owed on the note for the total refund amount.
- Recast! The mortgage company or current owner/servicer of your note may have to recast the terms of your note.
- This means if you have an adjustable rate mortgage (ARM), they may be forced to revise the terms of the note, which may include restructuring it from an ARM to a 30-year fixed-rate mortgage at a reasonable market interest rate.
- The mortgage company or current owner/servicer of your note may also have to revise the principal balance owed. For example: If the original purchase money to buy your home was for $150,000, but the value of the home has declined due to market conditions, they may be forced to re-write the balance to reflect this drop in value.
- Legal fees. In some cases, the mortgage company may be statutorily responsible to cover your legal fees. If your legal fees are not covered, you may need to get a fee and payout agreement as part of your settlement defined up front. This challenge will be covered on this website in the near future, so relax.
* This is not an offer to save your mortgage, save your home or provide any type of monetary or other relief. Every person, every loan and every situation is different, therefore, your remedies will be based upon current laws and regulations as determined by your qualified legal counsel.
Why should the mortgage company have to pay you for these remedies? 
It's Simple. Once it has been established that they violated your rights as described in the Fair Housing and Truth In Lending Act:
- They made a predatory loan. They may have injured you by making a loan that you should have never received in the first place, and;
- They made an illegal loan: Since the loan may be illegal, your mortgage company cannot profit from such a transaction, and as a result, they may be required to refund all monies received under such a contract.
Are You A Predatory Lending Victim? Fight Back!
Click here to learn about your options.
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Don't Bite 
