stop investors stealing personal property by using letter of intent to morgage holder, paying no money or closing costs.

Banks and mortgage companies can sell your loan to an investor if you are delinquent. That investor or investment companies only qualifications may be that they know the mortgage loan officer or banker. By law all that is required to purchase your loan and move you off your property is a Letter of Intent To Purchase. The investor can call the loan due in full, sell your property on the courthouse steps for any amount they name, and then pay the mortgage holder. They do not have to borrow money so they pay no interest, and they do not have to pay any closing costs. The investor may even be allowed to purchase the loan for a lot less than you owe. They pay nothing and make money and you may have already paid thousands of dollars and loose your property and money.