From the monthly archives:

July 2009

Ohio AG & Dept. of Commerce first to sue mortgage servicer

by Moe Bedard

Cordray & Ohio Department of Commerce First in Nation to Sue Mortgage Servicer for Unfair Practices

(COLUMBUS, Ohio) — Ohio Attorney General Richard Cordray today filed a joint lawsuit with the Ohio Department of Commerce against Carrington Mortgage Services, LLC. The lawsuit alleges that Carrington breached its agreement with the state to offer reasonable loan modifications [...]

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Federal task force formed to combat “foreclosure rescue” schemes and “short sale” schemes

by Moe Bedard

The task force includes the U.S. attorney’s office, FBI and other state and federal agencies. Acting U.S. Attorney Nora R. Dannehy said mortgage fraud investigations are a key component of the office’s efforts to fight economic crime.
Most mortgage fraud cases involve false representations on mortgage loan applications and inflated property appraisals, authorities said.

The task force [...]

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American Loan Modifications – Are they legit?

by Moe Bedard

Homeowner Question:  Do you know anything about a modification company known as American Loan Modifications in FL? They are out of Pinecrest, FL on the east coast south of Tampa.

My Answer:Many of these loan modification companies are hard to locate on the internet because they all seem to sound alike. I know because there are several [...]

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New Leaf Loan Modifications – DRE files cease and desist

by Moe Bedard

Update: THIS POST IS NOW CLOSED BECAUSE OF THREATS OF VIOLENCE AGAINTS THE OWNER AND SOME FALSE CLAIMS – 9/18/2009
It looks like New Leaf Loan Modifications out of Roseville California is still very much in the business. Even after receiving a cease and desist letter from the DRE.
From KCRA:
ROSEVILLE, Calif. — The California Department of [...]

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Barney Frank – Can he save homeowners?

by Moe Bedard

Looks like Barney Frank may come to rescue homeowners. Mr. Frank is in the media again threatening lenders with bankruptcy reform because he wants more loan modifications and they are just not happening.
Is this just more hot air from Washington and how long can we pose empty threats at an industry that just does not seem [...]

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California’s foreclosure moratorium does little to help homeowners

by Moe Bedard

SF Bay view- The California Foreclosure Prevention Fraud of 2009 – The California Legislature is now actively collaborating in the bankers’ coup d’état led by Government Sachs. Here are the details:
This is a great editorial on the recent California foreclosure moratorium that is really just more propaghanda to silence and confuse struggling homeowners.
I first reported [...]

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Is California Rep. Laura Richardson a house flipper or fraudster?

by Moe Bedard

This story just came out in the LA Times in regards to U.S. Rep. Laura Richardson’s rundown Sacramento house.  The story explains the uncleanliness of the home, yard and that neighbors of the congresswoman were complaining.
The thing that stood out to me in this article is not the messy home, but is the possible mortgage and [...]

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Mortgage servicers vow, yet again, to speed up loan modifications

by Moe Bedard

The AP – The Obama administration, scrambling to get its main housing initiative on track, extracted a pledge from 25 mortgage company executives on Tuesday to improve their efforts to assist borrowers in danger of foreclosure.
Blah, blah, blah…..blah, blah, blah……….
This is a blog, my blog and I simply do not have to abide by the [...]

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Chris Dodd, Kent Conrad deny knowing about VIP deals

by Moe Bedard

“Let me be very clear, we are not friends of Angelo Mozilo, and we have never been a friend of his,” Dodd said of his participation in the VIP loan program run by the failed mortgage giant. “We have never communicated with him or anyone else other than loan officers at Countrywide about our mortgages. [...]

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Ex-Countrywide president launches troubled-mortgage fund

by Moe Bedard

Kurland, who was Angelo Mozilo’s No. 2 man at Countrywide, left in September 2006 — a year before the company began to crumble under the weight of rising loan losses. He founded Private National Mortgage Acceptance Co. early in 2008 with a team of other ex-Countrywide execs specifically to begin buying up troubled home loans.
Understandably, [...]

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U.S. Treasury Department, FHA, Fannie & Freddie to be sued over failed foreclosure relief

by Moe Bedard

My forum over at www.LoanSafe.org/forum has hundreds of homeowners who qualify for the government ran Obama Making Home Affordable(MHA) foreclosure plan, but they are simply getting the loan modification shaft and absolutely no assistance from their mortgage servicers.
Many borrowers who are not getting help are not yet late on their mortgage and this is what I suspect  [...]

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PA Attorney General Corbin reaches settlement with Countrywide

by Moe Bedard

HARRISBURG – Attorney General Tom Corbett today announced that more than 1,100 Pennsylvania consumers have been sent notification that they are eligible for mortgage foreclosure relief as part of a settlement with Countrywide Financial Corporation.
Corbett said the Pennsylvania consumers who are being contacted are borrowers whose Countrywide loans resulted in foreclosure. Eligible consumers will receive [...]

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Home Relief Services, Diener Law Firm – Orange County DA serves search warrants

by Moe Bedard

It looks like the $hit is hitting the legal fan for some more Orange County loan modification scams and I couldn’t be happier. Maybe some of their counter parts will see the news and realize that it is only a matter of time before they too are raided, sued and shut down.
OC Register:
Agents served search warrants [...]

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Obama to meet with mortgage servicers at the White House today

by Moe Bedard

If any of you have been following my blog or are in the business of helping homeowners, you already know that mortgage servicers are still giving homeowners the loan modification shaft.
The facts are that after 2 years of asking nicely and giving them several carrots to help their struggling clients, they still are operating at [...]

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Cracking Down on Mortgage Collectors

by Moe Bedard

The foreclosure pandemic wreaks havoc on America’s communities and families every day.
The administration has responded with incentives to loan servicers — the companies that collect mortgage payments and initiate foreclosures — to rework loans. But servicers have proven extremely reluctant to modify loans, even when doing so would be in the best interests of investors [...]

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New Arizona Foreclosure Law Bans Anti-Deficiency Claims for Investors

by Moe Bedard

Arizona is infamous for having the anti deficiency law that made it really easy for homeowners to walk away from their homes with virtually no recourse in the future. Now, it looks like Arizona residents that live in their primary homes for 6 continuous months prior to their home being foreclosed will still be protected, but investors, second homeowners [...]

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Bad Biz Finder & Erin Baldwin shut down for lies?

by Moe Bedard

It looks like the infamous blogger in her own mind, Erin Baldwin and her incredibly slanderous blog, Bad Biz Finder have finally been silenced and rightfully so. As mentioned in my previous blog post, Ms. Baldwin had went our og her way to discredit me, my websites or anyone who advertised on them.
In her weak [...]

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Homeland Support Services, Finance Administrators – Is this a loan modification boiler room?

by Moe Bedard

It looks like this company is operating under several names like Homeland Support Services and Finance Administrators. Many scams do this to confuse consumers and avoid prosecution. Is this company doing the same thing?
This homeowner alert will work in tandem with my most recent post on the Prodigy Law Groupand attorney Steve Heyman.
Here are the [...]

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Prodigy Law Group – Used car salesman selling loan modifications?

by Moe Bedard

Homeowner Alert: Don’t do business with any business that cold calls you on the phone! There ARE reputable outfits out there, but they don’t cold call you and pitch you BS.
Possible scam alert: Homeland Support Services, Prodigy Law Group and attorney Seth D. Hayman
Known websites, affilliations and reports:
http://www.prodigylawgroup.com/default.asp
(Main Office) 
Location: 18111 Von Karman Avenue, 7th Floor, [...]

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Watchdog criticizes Obama mortgage plan

by Moe Bedard

CNN: Borrowers and housing counselors, however, have been complaining about the program since it began. Many say their servicers are not responsive — losing paperwork, not returning calls and never making decisions on applications. Some charge that servicers are violating the rules, such as denying modifications to those who are still current with payments.
Embedded video [...]

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