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Florida State Attorney General, Bill McCollum has opened an investigation on the Florida Default Group, PL in Tampa. The AG unit handling case will be the Economic Crimes Division in Ft. Lauderdale, Florida.
Many judges are complaining that rogue bank lawyers are foreclosing on properties that they cannot claim legal ownership through proper legal documentation. In [...]
Posted in Attorney General, FORECLOSURE FRAUD, Florida Default Law Group, florida default group lawsuit, foreclosures, missing mortgage note · April 30th, 2010 · Comments (0)
MINNESOTA USDOJ (LoanSafe.org) – A 41-year-old Prior Lake man was sentenced today in federal court in St. Paul on charges connected to an equity-skimming scheme that targeted vulnerable homeowners. United States District Court Judge Patrick J. Schiltz sentenced Michael Fiorito to 270 months in prison on one count of conspiracy to commit mail fraud and [...]
Posted in Scams, bank fraud, mortgage broker, mortgage fraud, mortgage scams · April 30th, 2010 · Comments (0)
Foreclosure rescue scams have been spreading across the nation for the past couple years at an alarming rate. For the average homeowner it is crucial watch out for these scams so you can protect yourself and your home.
If you have fallen behind on your monthly mortgage payments be aware that scam artists can easily find [...]
Posted in Scams, foreclosure relief scams, foreclosure rescue scams, loan modification scams, mortgage modification scams · April 30th, 2010 · Comments (0)
The current interest rate for a conforming thirty-year fixed mortgage is at 5% today, down from 5.25% just about two weeks ago. This type of home loan is the most common type of mortgage and actually includes some of the best terms an individual can obtain. For a jumbo thirty-year fixed rate the average interest [...]
Posted in Current Mortgage Rates, Current home loan rates, Home loan interest rates, Mortgage interest rates, current mortgage rate, today's mortgage rates · April 30th, 2010 · Comments (0)
DENVER (LoanSafe.org) — Colorado Attorney General John Suthers announced today that his office has filed a consumer protection lawsuit against American Mortgage Consultants, its owner, Oliver Paul Maldonado (DOB: 12/15/1972), and its principal employee, Santiago Fabian Pineda (DOB: 6/24/1978), on suspicion that they defrauded consumers seeking loan modifications and foreclosure relief.
According to the complaint, filed in [...]
Posted in American Mortgage Consultants, Loan modification, Oliver Paul Maldonado, Scams, loan modification scams, mortgage fraud, mortgage scams · April 29th, 2010 · Comments (0)
He said Treasury was “troubled” by reports that servicers had done things like foreclose on homeowners who were potentially eligible for relief under the government’s Home Affordable Mortgage Program, lost documents or claimed to have done so and even steered troubled homeowners away from available assistance.
“None of this is acceptable,” Geithner said, adding that Treasury [...]
Posted in Home Loan News, Home affordable modification program, Loan modification, Mortgage Modification, making home affordable · April 29th, 2010 · Comments (0)
In this Fox Business video, Mercer University Law Professor David Oedel and Former Fannie Mae Credit Officer Ed Pinto on the outlook for the housing market.
The facts are that the government has been in involved in 90-97% of the mortgage business over the last few years. Fannie Mae, Freddie Mac and FHA are about the [...]
Posted in FHA mortgage, Fannie Mae, Freddie Mac, Home Loan News, Home Loans, mortgage · April 29th, 2010 · Comments (0)
Rural Housing Service Program Currently on Brink of Insolvency
Washington, DC – April 29, 2010 – (LoanSafe.org) — At a time when mortgage credit markets are still uncertain, Michael Bennet, U.S. Senator for Colorado, introduced a bill that will bolster Rural Housing Service loan programs on the brink of insolvency and ensure that families in Colorado’s [...]
Posted in Rural Housing Preservation and Stabilization Act, Rural Housing Service, Rural Loans, rural home loans, rural mortgage, usda loan · April 29th, 2010 · Comments (0)
Atlanta, Georgia (LoanSafe.org) — On April 28, 2010, the Georgia Department of Banking and Finance’s Order to Cease and Desist Issued for six companies operating illegally in the state.
The Orders to Cease and Desist were issued by the Department after it obtained evidence that the firms engaged in residential mortgage brokering/lending activities without a license or under [...]
Posted in American Modification Consultants, Home Ownership Protection Education Alliance, Instant Funding, Kirkland Young, Loan Servicing Group, National Home Loan Advocates, Scams, mortgage fraud, mortgage scams · April 29th, 2010 · Comments (0)
April 29, 2010 – (LoanSafe.org) — The Federal Trade Commission has put a permanent stop to another mortgage foreclosure “rescue” operation that allegedly promoted bogus loan modification and foreclosure relief services. The case is one of 17 lawsuits the FTC has brought in the past 11 months in a crackdown on mortgage relief frauds that [...]
Posted in National Foreclosure Relief, Scams, loan modification scams, mortgage fraud, mortgage scams · April 29th, 2010 · Comments (0)