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Mortgage Fraud Is Still Alive and Kicking

May 22, 2018 by

Fraud-Is-Still-Alive-and-Kicking

Fraudsters Continue to Find New Ways to Scam Banks and Homeowners

If you think that most mortgage fraud is a thing of the past, that the scams within the home lending industry have mostly been brought under control in the last decade, think again. Here are some sobering statistics:

  • In 2016, more than $5 billion of mortgage funds were targeted by individuals engaged in some fraudulent activity (according to the FBI)
  • From 2015 to 2016, wire fraud scams involving title companies went up six-fold (a sobering number when you consider that experts estimate that about one in every six cases of mortgage fraud is reported
  • The FBIZ reported fraudulent wire transfers of mortgage dollars to 103 different countries in 2016

Here’s what the latest scam looks like—it’s a combination of identity fraud, computer hacking and wire fraud. The scammer typically hacks an e-mail or online account that has information about an impending closing. The scammer then “steals” the identity of a party involved in the transaction (typically the seller, but maybe a title or real estate agent) and contacts the buyer with fraudulent directions to wire the down payment. The down payment is then wired directly to the fraudster’s account.

Experts say that the wire transfer fraud can be highly sophisticated, with some perpetrators using technology that makes it appear that the phone call is coming from a legitimate number. There’s even technology that allows fraudsters to intercept “call and verify” efforts.

The best way to protect yourself from mortgage scams? Know the people with whom you are working. Be willing to ask questions about the process and have someone you know you can call to give you accurate information about your transaction.

Contact Attorney David J. Karbasian

Contact our office online or call us at 856-667-4666 / 856-600-HURT to schedule an appointment. Your first consultation is without cost or obligation. The sooner you call, the sooner you can move forward with your claim. We can accommodate evening or weekend meeting requests and will come to your home, if necessary.

Filed Under: Fraud Tagged With:

The Benefits of Expert Testimony in a Truck Accident Claim

March 18, 2018 by

Truck-Accident-Claim

To successfully litigate a personal injury claim, you need to present clear and compelling evidence that the defendant acted carelessly or negligently, causing actual losses. In a truck accident claim, that can often be a challenge, given the varied potential causes of such a crash, as well as the complex regulations governing trucking operations. As a result, it’s often essential to bring in expert witnesses to help juries understand both the cause of the accident and its consequences.

Here are the experts who are often called on in a truck accident injury claim:

  • Accident reconstruction specialists—These experts, usually engineers, customarily look at damage to vehicles, as well as evidence from the scene of the crash, so that they can identify exactly what happened. They’ll use all relevant data to recreate the accident, including skid marks, road gouges and information from the truck’s on-board data collection systems.
  • Human factors experts—One of the common causes of major truck accidents is truck driver fatigue, caused by drivers failing to take required breaks. A human factors expert will explain to a jury exactly what happens physically and mentally to a driver who does not get adequate sleep or rest.
  • Medical experts—Medical professionals will review all treatment and medical records and testify regarding both short-term and long-term injuries, as well as the care an injured person will require.
  • Economics experts—This expert will calculate the total monetary losses sustained by an injured person, both actual and projected, including lost income, unreimbursed medical expenses and property damage.
  • Mechanical expert—A mechanical expert will carefully examine the truck involved in the accident, looking to see if there are mechanical problems that should have been fixed or that directly or indirectly contributed to the accident. The mechanical expert will also confirm that the actual maintenance done to the truck conforms with what was reported in the vehicle maintenance log.

Contact the Law Offices of David J. Karbasian, PC

Send us an e-mail today or call us at 856-667-4666 / 856-600-HURT to schedule an appointment.

We handle all personal injury claims on a contingent fee basis. We won’t charge any attorney fees unless we recover compensation for your losses.

Evening and weekend meetings can be arranged upon request. We’ll come to your home or the hospital to meet with you, if necessary.

Filed Under: Personal Injury, Truck Accidents Tagged With: ,

What to Do after a Truck Accident

March 1, 2018 by

The Steps You Take Immediately after the Crash Can Be Critical

Truck-Accident

When you are hurt in a collision involving a big rig, semi, tractor-trailer, 18-wheeler or other commercial truck, your life can change in an instant. Even if neither vehicle was traveling at a high rate of speed, the sheer size of an over-the-road carrier often leads to serious and catastrophic injury. The steps you take in the immediate aftermath of the wreck can have a significant impact on your ability to fully recover for all your losses.

Your First Concern—Your Health

Before you consider anything else, you need to take all necessary steps to address any injuries you may have sustained. If you are uncertain about your ability to get out of your car and move about, stay where you are until emergency medical professionals arrive. This isn’t the time to be strong or heroic—it’s the time to acknowledge that you may have suffered serious injury and to defer to the expertise of medical professionals. Even if you can walk away, you should seek medical treatment as soon as possible. The sooner you get medical care, the better your chances that your condition won’t deteriorate. In addition, the longer you wait to get medical care, the greater the risk that defense attorneys will attribute your injuries to an intervening cause.

Gather Information, If Possible

If you can do so without risk to your health, you’ll want to do what you can to obtain evidence to support a potential legal claim. Get contact information from anyone involved in the accident, as well as witnesses. Take pictures of everything, from the damage to your vehicle and any injuries you have sustained to road conditions, skid marks, weather conditions or any roadway defect.

Retain Experienced Legal Counsel

A truck accident injury claim is substantially different from a car accident claim, so you’ll want to hire a lawyer with experience handling these types of cases. Your attorney should be familiar with state and federal regulations governing trucking operations, driver and maintenance logs, on-board data recorders and weight restrictions.

Contact Attorney David J. Karbasian

Contact our office online or call us at 856-667-4666 / 856-600-HURT to schedule an appointment. Your first consultation is without cost or obligation. The sooner you call, the sooner you can move forward with your claim. We can accommodate evening or weekend meeting requests and will come to your home, if necessary.

Filed Under: Truck Accidents Tagged With:

Steps You Can Take to Reduce the Risk of Mortgage Fraud

February 14, 2018 by

Mortgage-Fraud

When you’re buying a house or refinancing, you want to get the best deal possible, but you also need to be careful to avoid fraudulent mortgage lending practices. Here are some basic guidelines to reduce the risk that you’ll be taken in by a mortgage lending scam.

Work with Someone You Know or Trust

The best way to steer around potential mortgage fraud is to do business with someone that you know, who you’ve worked with before. If this is the first time you’ve used a mortgage banker, get referrals from people you trust, including family, friends and professional advisors.

Only Work with Someone You Can Meet in Person

It’s been possible to apply for and obtain a mortgage loan online for years, but you always want to know that the mortgage lender has a bricks and mortar office somewhere. If it’s just an e-mail address and a cell phone number, there’s a good chance it’s not legitimate.

Check Out the Lender

There are organizations, such as the Better Business Bureau, who track companies and can tell you if they’ve had complaints filed against them. Don’t be surprised, though, if there’s been at least one complaint filed against the lender—that’s not unusual. But if there are dozens or more, look elsewhere. Furthermore, find out how long the mortgage lender has been in business. If the company is relatively new, find out where their owners were previously, and what they were doing professionally. As a general rule, there’s greater risk in a newer company, but there are always exceptions.

Don’t Sign Anything Unless You Know What It Is

The lender may put a stack of documents in front of you and tell you they’re a “formality.” Take the time to carefully review every document. If you don’t know what it is or what it means, don’t sign it. If necessary, contact an attorney to explain the document to you.

Contact the Law Offices of David J. Karbasian, PC

Send us an e-mail today or call us at 856-667-4666 / 856-600-HURT to schedule an appointment. We handle all personal injury claims on a contingent fee basis. We won’t charge any attorney fees unless we recover compensation for your losses. Evening and weekend meetings can be arranged upon request. We’ll come to your home or the hospital to meet with you, if necessary.

Filed Under: Fraud Tagged With:

Don’t Be a Victim of Appraisal Fraud

February 2, 2018 by

Appraisal-Fraud

Your House May Be Overvalued and You Might Pay for It

Whether you’re looking to buy a house or refinance, at some point you’ll need to have the property appraised, so that you know how much can be financed using the property as collateral. There can be a tendency, when the appraisal comes in higher than you expected, to decide to finance more, so that you can do some remodeling or pay off some other bills. You need to be careful, though, that the appraisal doesn’t misstate the value of your property, putting you underwater when it comes time to sell.

Appraisal fraud is not uncommon in the mortgage industry. Unfortunately, because of the way the mortgage business works, there’s an incentive for appraisers to “tweak” the numbers, almost always up. Here’s how it works:

  • When you contact a lender to finance or refinance your home, you’ll typically get a “good faith” estimate for the amount of the loan, based on purchase price or what you plan to do with the refinance proceeds
  • Your lender will hire an appraiser to estimate a fair market value for the property
  • Because there are many appraisers competing for work with lenders, there’s an incentive for the appraiser to find a way to meet or exceed the good faith estimate.

Of course, there is a down side for lenders as well. If the appraisal overstates the value of the property and the lender makes a larger loan, the lender could end up on the short side of the deal if the property goes into foreclosure. However, most mortgage lenders sell their mortgages, so they don’t end up facing those types of problems.

As a practical matter, it may be in your best interests to get an independent appraisal, so that you have a realistic sense of what the property is worth.

Contact Attorney David J. Karbasian

Contact our office online or call us at 856-667-4666 / 856-600-HURT to schedule an appointment. Your first consultation is without cost or obligation. The sooner you call, the sooner you can move forward with your claim. We can accommodate evening or weekend meeting requests and will come to your home, if necessary.

Filed Under: Fraud Tagged With:

Truck Driver Log Violations

January 18, 2018 by

Truck Driver Log Violations

According to statistics gathered by the Federal Motor Carrier Safety Administration, there were more than 325,000 reported instances in 2015 where truck drivers had failed to log, update or provide correct information in their log books. In addition, roadside inspections led to more than 136,000 documented violations for hours-of-service regulations.

Under federal law, over-the-road truckers and trucking companies are required to maintain log books to ensure that maintenance is properly conducted and the drivers are not on the road without adequate rest. Under those rules, a truck driver may not be behind the wheel for more than 11 hours after any 10 hour period off duty. In addition, the driver cannot be on the road beyond the 14th consecutive hour after a 10-hour rest. There’s also a limit of 60 hours on the road over a given 7 consecutive day period and 70 hours over a given 8 day consecutive period.

Unfortunately, with the pressure to maximize profits, many drivers find ways to circumvent these rules, either failing to log information or, on some occasions, maintaining two sets of log books. Fortunately, for accident victims, the FMSCA has regulations that require all commercial trucks and buses to have an electronic logging dev ice (ELD) installed. The ELD logs the number of hour a driver is operating the vehicle.

In addition, most semis and big rigs have what is known as an Event Data Recorder, similar to the black boxes installed in commercial airliners. The EDR gathers a wide array of information, from the number of hours on the road to average speed, use of cruise control, seatbelt usage, whether the driver exceeded speed limits and instances of hard braking or sudden stops.

Contact Our Office Today

Don’t wait another day—evidence may be lost! Your first consultation is free of charge. Contact us by e-mail or call us at 856-667-4666 / 856-600-HURT to schedule an appointment. Evening and weekend meetings can be arranged upon request. We’ll come to your home or the hospital to meet with you, if necessary.

We handle all truck accident injury claims on a contingency basis. You won’t pay any attorney fees unless we recover compensation for your losses.

Filed Under: Truck Accidents Tagged With:

Third Party Actions for Construction Site Injuries

January 3, 2018 by

Construction Site Injuries

When you’ve been hurt on a construction site, your first course of action will often be to file a workers’ compensation claim. In many instances, that will be your “exclusive remedy,” which means that your only recourse to recover monetary damages for your losses is through the New Jersey workers’ compensation system.

There are, however, situations where you are not limited by the workers’ compensation laws, where you may file what is known as a “third party claim” in a civil court. Here’s how it works.

The workers’ compensation laws are in place to cover situations where there was negligence or carelessness by your employer or a fellow employee. If your injuries were caused entirely by wrongful acts by your employer or a co-worker, then you may only seek benefits through a workers’ compensation claim. However, if any unrelated party contributed to or caused your injuries, you may bring a legal action against that unrelated party in a court of law. Some examples of third party liability include:

  • Injuries caused by the careless design or manufacture of tools or equipment on the jobsite
  • Injuries caused in a motor vehicle accident involving a person who is not your employer or a co-employee
  • Injuries caused by workers or vendors at an adjoining work site

There are circumstances, where the injury was caused in part by your employer or a co-employee and in part by a third party, where you can file a workers’ compensation claim simultaneously with a civil suit. However, you cannot recover twice for the same loss—if you recover for medical expenses in a workers’ compensation claim, you can’t recover for those same expenses in a court of law.

Contact Us Now

Don’t run the risk that evidence will be lost— contact us online or call our office today at 856-667-4666 / 856-600-HURT to schedule an appointment. Your first consultation is free. We are available evenings and weekends upon request. We’ll also travel to your home or the hospital, if necessary.

We handle all personal injury claims on a contingent fee basis. We won’t charge any attorney fees unless we recover compensation for your losses.

Filed Under: Construction Accidents Tagged With:

Filing a Claim under the New Jersey Consumer Fraud Act

December 21, 2017 by

Filing a Claim

Under the New Jersey Consumer Fraud Act (CFA), citizens can bring legal action against entities or individuals who sell goods, services or real estate alleging deceptive marketing practices.

There are three general requirements to qualify for relief under the CFA:

  • You must prove that the defendant engaged in an "unlawful act"
  • You must show that you have sustained a tangible or identifiable financial loss
  • You must show a causal connection between the defendant’s unlawful act and your loss

It’s important to understand that that Consumer Fraud Act does not require any direct contact between the perpetrator of a fraud and the victim—you only have to show that the wrongful conduct caused or contributed to the loss.

In addition, the wrongful or unlawful act can take a variety of forms. A false or misleading statement of fact or any “affirmative act” can constitute an unlawful act, but so can a knowing or intentional omission of material fact or information. Furthermore, if you can show that the defendant violation a specific law or regulation, that will be sufficient.

It’s not enough that the defendant engaged in an unlawful act, if you can’t show that you suffered any measurable loss. For example, if you opted not to buy goods or retain services, you won’t have a claim, even if the defendant’s action violated consumer product regulations or other laws.

One caveat—there’s an exception to the Consumer Fraud Act, known as the “learned professional” exception, which exempts doctors, attorneys and other similarly licensed professionals for any services within the scope of their licenses.

Contact the Law Offices of David J. Karbasian, PC

Send us an e-mail today or call us at 856-667-4666 / 856-600-HURT to schedule an appointment.

We handle all personal injury claims on a contingent fee basis. We won’t charge any attorney fees unless we recover compensation for your losses.

Evening and weekend meetings can be arranged upon request. We’ll come to your home or the hospital to meet with you, if necessary.

Filed Under: Fraud Tagged With:

Beware of Potential Mortgage Loan Modification Scams

December 4, 2017 by

Consumers Should be Wary of Unauthorized Practices

Beware of Potential Mortgage Loan Modification Scams

According to the New Jersey Department of Banking and Insurance, consumers need to be careful when responding to advertisements or solicitations regarding loan modifications to avoid foreclosure. The state reports that a number of businesses have offered services to the public, and have frequently targeted attorneys, mortgage bankers and brokers to obtain referrals. They say that many of these companies may be operating without proper licensing from the state, and may take substantial up-front fees without providing any real benefit to the consumer.

The services can be marketed under a variety of terms, from “foreclosure prevention” to “loss mitigation consulting. The “loan modifications” offered by many of these companies are not second mortgages or loan refinances, but are considered under New Jersey law to be “debt adjustment.”

There are specific laws in New Jersey regarding what types of businesses can legally provide “debt adjustment” services through loan modification.” The lender or mortgage servicing company may legally do so, as may the owner of the loan. Any other party seeking to engage in debt adjustment through a loan modification must either be licensed by the Department of Banking and Insurance as a debt adjuster, or must be exempt under New Jersey’s Debt Adjuster Act. The following parties are generally exempt:

  • A lawyer licensed in New Jersey
  • An employee of the debtor whose duties include adjusting the employer’s debts
  • Anyone acting pursuant to an order or judgment from a court of law
  • A creditor of the debtor who makes debt adjustments without cost to the debtor
  • Any person who makes a debt adjustment for the debtor at the debtor’s request and without cost to the debtor

Contact Attorney David J. Karbasian

Contact our office online or call us at 856-667-4666 / 856-600-HURT to schedule an appointment. Your first consultation is without cost or obligation. The sooner you call, the sooner you can move forward with your claim. We can accommodate evening or weekend meeting requests and will come to your home, if necessary.

Filed Under: Mortgage Foreclosure Scam Tagged With:

Warning Signs of an Online Loan Scam

November 18, 2017 by

Online-Loan-Scam

If you are looking to borrow money, either for a mortgage or other purchase, you may have considered filing your application online. There’s no shortage of websites offering you the opportunity to apply online and you can often get “approval” within moments. Many are legitimate, but, as will most things, there are many fraudsters lurking in the shadows, looking to separate you from your money. Here are some of the warning signs that an online provider of capital may not be legitimate:

No Credit—No Problem!!

If the lender assures you that you’ll qualify, regardless of your credit history, don’t take the hook. In the best case scenario, you may actually be able to borrow money, but you’ll probably pay exorbitant rates of interest. Some “payday” loans carry interest rates in excess of 300% compounded annually. In the worst case scenario, you could end up giving the fraudster unlimited access to your bank account.

Application Fees

Processing fees are not unusual, but legitimate lenders can tell you whether you’ll qualify without charging a fee. You shouldn’t have to pay any type of fee unless your application has been approved and you are moving forward with the processing of the loan. Don’t ever wire funds or make payment to a specific person. That’s not how bona fide lenders operate.

Hidden Fees

All potential fees should be disclosed up front and should be prominently displayed. If you learn about fees for the first time at the closing, don’t sign anything and back out of the deal.

Contact Attorney David J. Karbasian

Contact our office online or call us at 856-667-4666 / 856-600-HURT to schedule an appointment. Your first consultation is without cost or obligation. The sooner you call, the sooner you can move forward with your claim. We can accommodate evening or weekend meeting requests and will come to your home or the hospital, if necessary.

We handle all personal injury claims on a contingent fee basis. We won’t charge any attorney fees unless we recover compensation for your losses.

Filed Under: Mortgage Foreclosure Scam Tagged With:

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