From the monthly archives:

June 2009

Home Protection Agency aka THE ELITE FINANCIAL MANAGEMENT GROUP SCAM

by Moe Bedard

Submitted by a homeowner and member of the LoanSafe.org Forum. Please don’t take the bait like this guy did. Read my blogs, download my FREE e-book on the right of this website or join the forum with 16,000 other homeowners just like you!
Home Protection Agency aka THE ELITE FINANCIAL MANAGEMENT GROUP ake EFMG.
The service I [...]

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Paper Avalanche Buries Plan to Stem Foreclosures

by Moe Bedard

I have been talking about this for two years and it looks like the NY Times has caught on to the fact that mortgage servicers are screwing thousands of struggling homeowners out of their homes. Oh really?!
Come on members of the media, the missed faxes, lost mail and I can’t find your loan modification paperwork is OLD [...]

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White House Impatient with Pace of Loan Modifications

by Moe Bedard

WASHINGTON (KCBS) – The Obama administration is becoming impatient with the slow pace by which mortgage companies are modifying loans for millions of homeowners.
The $75 billion taxpayer-financed program has averted a relatively small number of foreclosures.

As KCBS’ Susan Leigh Taylor reports, there’s a bit of a mystery as to why things are moving so slowly. [...]

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FTC Ammends Complaint Against Federal Loan Modification Law Center or FedMod

by Moe Bedard

The FTC filed an amended complaint adding several new defendants in the action currently pending against Federal Loan Modification Law Center, LLP, and six related defendants. The original complaint, filed on April 3, 2009, charged the defendants with misrepresenting that in exchange for a large up-front fee, they will obtain a mortgage loan modification or [...]

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Principal Writedowns Make for Better Loan Modifications–But Nobody Does it

by Moe Bedard

President Barack Obama’s loan modification plan gives servicers all kinds of options for getting a borrower’s debt-to-income ratio down to that 31 percent threshold. They can extend the terms of the loan, lower the interest rate, and even–if they are so inclined–trim the unpaid principal balance of the loan itself. But the administration has been [...]

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Tenants’ Rights When the Homeowner Is Foreclosed

by Moe Bedard

Are you renting an apartment, a single-family home, or a condo? Are you worried about the increasing number of foreclosures and that one morning when you wake up, the sheriff is knocking at your door and then informing you that you have to leave because there is a new owner?
It is better to be prepared [...]

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Military Homeowners Assistance Program

by Moe Bedard

If you are a member of the U.S. military, here are some good news for you because President Barack Obama has approved a stimulus package bill that may help you with problems regarding your home. This bill contains a provision known as the Military Homeowners Assistance Program or HAP.
HAP was previously designed to be offered [...]

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Homeowners are foreclosure stripping and this does not involve taking off your clothes

by Moe Bedard

I hear it all the time. “Screw the banks Moe. They took everything from me and my family. They get bailed out with billions of dollars and my family gets nothing. I have been trying to work with these idiots for 8 months and now I am losing my home of 8 years. 
I’ve had it!” [...]

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Taylor, Bean & Whitaker Mortgage Settles With 14 States

by Moe Bedard

Taylor, Bean & Whitaker Mortgage Corp., one of the country’s largest wholesale mortgage lenders, made the agreement following a multistate examination of its lending practices in 2006 of so-called exotic mortgages, including interest-only and adjustable-rate mortgages, state officials said.
The examination alleged loan originators altered income and asset information for prospective borrowers so the applicants would [...]

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Century Legal Services Inc., Foreclosure Home Assistance LLC and Michael Brotherton Sued by the Ohio Attorney General

by Moe Bedard

Cordray Issues Statewide Foreclosure Rescue Scam Sweep
Seeks to shut down operations throughout Ohio
June 25, 2009

(COLUMBUS, Ohio) – Ohio Attorney General Richard Cordray today filed three lawsuits in a continuing effort to rid the state of foreclosure rescue scams operations. The lawsuits, filed against 21st Century Legal Services (Franklin County), Foreclosure Home Assistance, LLC (Cuyahoga County), [...]

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Help, I need a foreclosure bankruptcy loan!

by Moe Bedard

The first thing that you need to understand is that there are no foreclosure bankruptcy loans available right now. I am sorry to be the bearer of bad news, but no lender will  touch you for about 3 years at the least.
But it is definitely not the end of the world because you can get [...]

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Find a foreclosure attorney in California

by Moe Bedard

The facts are that not everyone can get “free” help and MANY homeowners need a good lawyer to help them through the legal maze during the foreclosure process.
If you’re looking for a good foreclosure attorney in California, then I recommend the Law Offices of Fransen & Molinaro. The founding partners, Nathan Fransen and Paul Molinaro [...]

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Obama adminstration launches effort to aid troubled borrowers with second mortgages

by Moe Bedard

WASHINGTON — The Obama administration is expected to announce Tuesday that it is expanding its plan to stem the housing crisis by offering mortgage lenders incentives to lower borrowers’ bills on second mortgages.
During the housing boom, lenders readily gave out “piggyback” second loans that allowed consumers to make small down payments or avoid them entirely. [...]

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Freedom Foreclosure Prevention Services, LLC, Sued by the FTC

by Moe Bedard

Freedom Foreclosure Prevention Services and their group of kitchen table home savers look to be in a bit of trouble with the FTC. One thing is for sure, I am not surprised one bit!
I have been following the loan modification industry since early 2007 and this company has been trolling the foreclosure and loan modification [...]

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Should I accept my loan modification offer or counter?

by Moe Bedard

For the past few years I have helped thousands of people by teaching them to help themselves through my blogs, forums and emails. I really enjoy assisting my fellow Americans in a time of need and have found a great new career working from home.
Since becoming a full time consumer advocate and blogger in 2007,  I have found that [...]

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How long can I live in my house after foreclosure?

by Moe Bedard

A loan modification didn’t work and the darn Realtor handling your short sale didn’t really sell much of anything. So, now you are left holding the raft, with no paddle in a fast moving crappy creek and all you want to know is, ” How long can I live in my house after foreclosure?”
Well, that depends on 50 different [...]

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Will filing bankruptcy stop foreclosure?

by Moe Bedard

Unfortunately, many homeowners simply don’t know what to do when they are in foreclosure. I get many emails asking me, “Will filing bankruptcy stop foreclosure?”
Well, yes and no!
Many homeowners will file for Chapter 13 specifically to stop their sale date. Only to find out later, that their mortgage is not included and now they may [...]

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Free legal aid available for low-, middle-income homeowners facing foreclosure in Washington

by Moe Bedard

The Washington State Bar Association has launched a program to provide free legal help to low- and middle-income people in danger of losing their homes to foreclosure.
Homeowners who call a toll-free number will be referred to volunteer attorneys in their communities who are trained to deal with foreclosure-related issues.
The bar association started recruiting and training [...]

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What are you allowed to take when you are foreclosed on?

by Moe Bedard

More and more reports are coming out of foreclosed homeowners stripping their properties of anything of value before they bail on the bank.
In my forum over at LoanSafe.org, I am getting a lot of questions in regards to what I can take and what I can’t take. Often, these people used their own money to improve [...]

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Treasury provides $3B more for foreclosure program

by Moe Bedard

WASHINGTON (AP) — The government will provide another $3.1 billion to a group of mortgage servicing companies as an incentive to modify loans to combat record levels of foreclosures.
The Treasury Department said Tuesday that the modifications, which included reductions in projected payments for some companies, pushed the total amount for the program to $18.3 billion, [...]

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Consumers may get a new watchdog. The banks object, what’s new?

by Moe Bedard

We all know down here on Main Street that most of the financial services industry is trying to fly under the regulatory radar so that can lie, cheat and steal in order to turn a profit. Right?
It seems like many of these bankers do not want to really provide true value to the people in our society. It appears that [...]

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Now that the FDIC is gone, are the new owners of Indymac abusing homeowners?

by Moe Bedard

When the government leaves and Wall Street takes over, we have Main Street problems. Haven’t we already made this fantastic business discovery America?
The failed Indymac and subsequent takeover by the FDIC has garnished a lot of press, fan fare and accolades for the great Sheila Bair and her agency. They came in, shaped up the [...]

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Homeowners Not Receiving Promised Help

by Moe Bedard

I am glad to see major media publications starting to report the truth again. The facts are that homeowners  still are not getting the help they deserve from mortgage servicers.
Even with Obama, the US Treasury, OCC, OTC etc up their arses, these lenders and mortgage servicers operate like they don’t give a rat’s arse what anyone says. Where [...]

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California Foreclosure Moratorium

by Moe Bedard

Attention homeowners! We have yet, another mortgage assistance bill to supposedly help you out and impose restrictions on mortgage servicers who “do not have” a loan modification program in place. Well, last time I checked (daily), almost every single lender and mortgage servicer has some type of shitty program in place.
Yes, I said shitty.
Meaning their [...]

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Wells Fargo/American Servicing – They are a joke!!

by Moe Bedard

Words submitted by a homeowner/reader:
But then again, all the other banks are in that similar situation.
My stomach turns everytime i here that these banks are requesting more stimulus money…where is the accountability of the first millions handed to them, big bonuses i guess, i definitely know it wasn’t used to help the homeowners, as to credit [...]

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Emergency mortgage assistance programs for homeowners

by Moe Bedard

Millions of homeowners are looking for immediate help to stop foreclosure. They just do not have time to play games for months on the phone and they need legitimate emergency mortgage assistance programs NOW!
If you came across this blog, the good news is that I have the most current list of available free services that [...]

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AmeriMod Subpoenaed by New York Attorney General Cuomo

by Moe Bedard

Attorney General Andrew Cuomo is preparing to file civil charges against Long Island’s largest loan modification company, AmeriMod and its owner, Salvatore Pane. While Cuomo Monday would not comment on AmeriMod, he said his overall investigation into the loan modification industry “has already uncovered many troubling practices.” From the NY Times
Sometimes I am amazed at how long [...]

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The FTC Sues The Rodis Law Group Inc., America’s Law Group Inc., and The Financial Group Inc. for Contempt

by Moe Bedard

This Bryan D’Antonio is a total scum bag that has scammed struggling Americans for years and has already served 4 years in prison for similar offenses. This is the 2ND time he has stole money from mass amounts of people and he should go to prison for a looooooooong time!
According to the FTC, Bryan D’Antonio and [...]

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Homeowner rights while in foreclosure

by Moe Bedard

If you’re a homeowner and you’re in foreclosure, you will most likely want to know your rights.  Unfortunately, you have very few rights outside of what is allowed by your state’s laws and these laws primarily deal with specific time frames that a lender must follow during the foreclosure process.
Understanding your states laws and the [...]

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Getting a Mortgage After Foreclosure?

by Moe Bedard

Getting a mortgage after foreclosure is going  to be no easy task. In fact it is going to be darn right impossible for a minimum of at least 3 years to a  more realistic time frame of 5 years.
For example, Fannie Mae now requires a minimum of 5 years from the date of foreclosure for [...]

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What are the ramifications of foreclosure?

by Moe Bedard

Many homeowners want to know the ramifications that a foreclosure will have on their credit and most importantly, their lives.
The facts are that a foreclosure is definitely not the end of the world and it isn’t really going to change your life that much in the long term. Yes, the short term effects will suck, [...]

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Mortgage Refinance Do and Dont’s For Today’s Market

by Moe Bedard

With interest rates on 15- and 30-year mortgages, either near or at historic low levels, now might be the best time in history to refinance your home’s mortgage.  However, the reality is that many homeowners are having a very difficult time in obtaining financing because of the unstable real estate values and uncertainty that is [...]

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Remove Your Second Mortgage in Bankruptcy

by Moe Bedard

Current bankruptcy law allows judges to approve the loan modifications of the terms of certain debts. But is it possible to remove your second mortgage in bankruptcy?
As most of us know, your first mortgage is not allowed to be claimed. But not everyone knows that in the case of second mortgages, if the value of [...]

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How do I negotiate a mortgage refinance if I lost my job?

by Moe Bedard

This email just came in my inbox and sometimes I am surprised that not everyone has heard of a loan modification or loan workout. Many homeowners think that a traditional mortgage refinance is the only way to help them out of their current dilemma.
The problem that you are going to have when you lost your [...]

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Loans for People in Foreclosure

by Moe Bedard

Millions of homeowners such as yourself are suffering financially and they are desperatelylooking for mortgage help on the internet. You need to be really careful when searching for lender who offers loans for people in foreclosure because of the many scams that are out there.
What you do need to understand is that there’s no shame in [...]

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SEC Charges Former Countrywide Executives With Fraud

by Moe Bedard

Former CEO Angelo Mozilo Additionally Charged With Insider Trading
Washington, D.C., June 4, 2009 — The Securities and Exchange Commission today charged former Countrywide Financial CEO Angelo Mozilo and two other former executives with securities fraud for deliberately misleading investors about the significant credit risks being taken in efforts to build and maintain the company’s market [...]

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SEC Charges Countrywide CEO, Angelo With Fraud

by Moe Bedard

Ladies and gentleman, the infamous CEO from Countrywide Home Loans, Angelo Mozilo and three of his partners in financial crime have finally been sued for fraud by the Securities and Exchange Commission (SEC).
I think Mr. Mozilo recieved email training from the cast of a dumb and dumber because it looks like Angelo’s poor handling of [...]

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Bad Biz Finder Loses Libel/Slander Lawsuit and $604,515.66

by Moe Bedard

This Bad Biz Finder blog and the slanderous author, Erin Baldwin has been a thorn in my side for a few months now. She is spreading lies about me all over the internet and  has went after dozens of  lawyers, bloggers, the California BAR, the DRE and the list of innocent people can go on and on. 
What [...]

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First American Title Lawsuits: Attention homeowners who may have been scammed

by Moe Bedard

Yes, lenders and banks had a lot to do with the current economic crisis. But what about the huge industry players like First American Title Insurance Company.
News from various law firms and attorneys are circulating the blogsphere about several class action lawsuits against this title company for their involvement in several real estate and home [...]

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First American Title is Trying to Hijack My Website, LoanSafe.org

by Moe Bedard

This will be the first post in a series chronicling my new fight against another lending industry Goliath, First American Title. They are claiming that I am violating their trademark for LoanSafe for some type of lender software.
They want me to take down my website www.LoanSafe.org by Friday June 5, 2009 or the billion dollar company is going [...]

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Brown Directs Foreclosure Consultants to Register with his Office and Post $100,000 Bond

by Moe Bedard

Oakland — Continuing his fight against scam artists who “prey on” vulnerable Californians, Attorney General Edmund G. Brown Jr. today issued a directive forcing foreclosure consultants to register with his office and post a $100,000 bond by July 1, 2009.
Those who fail to do so will be in violation of state law, subject to criminal [...]

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Home Prices Decline While Mortgage Debt Remains High: The Case For Principle Reduction.

by Nathan Fransen Esq.

Home prices have dropped, and dropped big. According to The S&P/Case-Shiller National Home Price index, home prices are almost 20% lower than one year ago. This represents the largest price decline ever recorded by the Case-Shiller Index. According to the Index, prices have basically been in a freefall since reaching their peak in early 2006. [...]

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Desist and Refrain Orders and/or Accusations for Loan Modification Activities

by Moe Bedard

The following persons and entities have been served with a Desist and Refrain Order and/or Accusation by the Department of Real Estate resulting from a loan modification and/or foreclosure rescue transaction.
In some instances, the person or entity has been ordered to stop providing loan modification and/or foreclosure rescue services because the person or

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Attention Abused Homeowners: Please contact the FTC and report your mortgage servicer

by Moe Bedard

Are you trying to get loan modification or short sale assistance from your mortgage servicers and all you are getting  is used and abused? Has your mortgage servicer or their employees lied to you? Does your mortgage servicer keep losing your paperwork and is giving you the 2-3-6  plus month run around? Are you afraid of losing your [...]

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