Dear Brian,
I have a friend that has a fist and a second with First Magnus, and about six months he talked to what I now know to be a shark loan person, They got a mortgage through him, and this guy had them get into some kind of trust with a lien against the home, now loan shark , is evicting them and tells them the house is his to keep , because they sent the payment to him 5 days late. This does not seem right. do you know some one in VA, we can talk to. There were not TILA disclosures, but the loan is secured by a lien against the home, might this deal be illegal, and thus rescindable?, CAn some one set a private trust and take over the house without the first and second trust approval of the change?
This looks predatory in nature.
This guy charged them $10,000 for every $30,000 they got, they borrowed $100,000. and this guy gauged them with almost $40,000 in fees.
Is this type of activity criminal, usurious, RICO, etc???
