Legal Question in Real Estate Law in Virginia

Re: Real Estate Tax law - Predatory Lending

You may. There are various remedies associated with predatory lending practices all dependent on the facts of your case. You should speak with an attorney regarding your rights.

Re: Real Estate Tax law - Predatory Lending

Yes, you very well may. I cannot tell for sure from what you say, obviously.

There are two different avenues that you should investigate.

First, the mortgage may be defective in the way it was written. One company that does an audit to see if the mortgage is invalid is http://www.MortgageFraudExaminers.com

This would mean that the technical legal details of the mortgage were done improperly or incompletely when the loan was issued.

Some people think it was okay. It is really not possible for you to know that. A professional should take a look at it.

Second, you are describing some strange inter-relationships. I would have to do some legal research, as any attorney helping you would do. But mortgage brokers have to be licensed and I think it might be a conflict of interest, violation of regulations of the industry and/or violation of fiduciary duty for the mortgage broker to issue the mortgage from himself. Perhaps if the mortgage were on very good terms, he might get away with it. But one would have to check.

I am not sure about reporting the interest payments to the IRS. I am not sure why the mortgage broker would be reporting the interest payments. So that would need to be checked into more.