It has been reported recently that Texas-based Heritage Pacific Financial is targeting California Homeowners with foreclosed second mortgages. The following article gives a detailed description of those they are targeting.
Heritage claims that they are only pursing claims against people that made material misrepresentations to secure large loans upon which they soon stopped paying. More specifically, those that misrepresented their income. But from what some of the former homeowners claim, that’s just not true. Heritage is using traditional collection methods we see all the time which ultimately leads to the filing of a lawsuit. So what do you do if you are contacted by Heritage? Contact an attorney immediately to review your circumstances. The best thing to do is fight them head on from the very beginning before costly litigation begins. An attorney experienced in negotiating debts such as second mortgages may be able to help you avoid getting sued and make these vultures fly back to Texas with empty talons.
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