January 2010

Complaint submitted by someone in the know via my blog: Clients, beware of Freedom Team Financial and Rob Robson. He is a multi level marketing schemer and a liar. He was never nor is the largest sales rep for Choice. Do [...]

In a day’s worth of testimony, no one took issue with this happy scenario presented by the grateful bankers until Julia Gordon, a housing expert from the Center for Responsive Lending, took the stand and dove straight in. “The bankers [...]

A lawsuit filed Monday seeks class-action status for borrowers who sought loan modifications from GMAC but were denied the modifications without being given a written reason for the denial. The suit seeks an injunction against GMAC as well as attorney [...]

But the profits were largely a mirage, federal prosecutors discovered. The loans Omni doled out quickly ran into trouble as borrowers — many of whom had little money and poor credit — defaulted, pushing the homes into foreclosure. Levine, 68, [...]

Listen to Moe Bedard on LoanSafe’s Talk Radio Show. Live radio and video broadcasts will be featured Monday – Friday at 11:00 am – 12:00 am PST. Moe will be covering the latest news on loan modifications, scams, foreclosures, jobs, and how to [...]

Unfortunately for the people on Main Street, it looks like this dynamic OC loan modification duo (AKA Cockbrokers) will remain free to run cock wild on the streets of financial deception for just a little bit longer. Chris Fox and Curtis Melone were due [...]

Attorneys representing five people who were charged with beating and torturing two loan modification agents asked for more time last week to reach a potential settlement. Attorney Stephen Wegman and three other defense attorneys asked Los Angeles County Superior Court [...]

They were designed to keep homeowners off the streets.  Loan modification programs can change the terms of a borrower’s mortgage in various ways, with the goal being more manageable payments.  However, some say the programs can be more of a [...]

The amount of California foreclosure cancellations increased 26.5% in December to 13,243, primarily due to loan modifications.  And for the first time this number overtook foreclosures reaching real-estate owned (REO) status, according to ForeclosureRadar, which tracks foreclosure activity in the [...]

Terry Goddard Sues Loan Modification Company for Deceptive Practices (Phoenix, Ariz. – Jan. 13, 2010) Attorney General Terry Goddard today filed a lawsuit against a Phoenix-based mortgage loan modification company, Asset Creation, LLC, and its owner, Marvin Williamson, for engaging [...]

FRESNO, CA—United States Benjamin B. Wagner announced today that KEVIN PATRICK SLUGA, 60, and his wife, LESLIE SLUGA, 57, of Bakersfield, pleaded guilty today before U.S. District Judge Oliver W. Wanger, in Fresno, to four counts of wire fraud and [...]

A California man was sentenced to nine years in prison and ordered to pay more than $12 million in restitution for his role in a mortgage fraud scheme in Highgate. Benjamin Osmanson, 31, former proprietor of Highgate Manor inn, pleaded [...]

Finally these two greedy loan modification moguls who disrespected legal authorities nationwide will finally have their day in court. These two well known OC mortgage outlaws are known as Curtis Melone and Christopher Fox. They had operated a series of illegal loan modification firms along [...]

A.You can complain to Florida’s attorney general. According to the website: If a homeowner believes he or she has been taken advantage of by a disreputable company, he or she should call the Florida Attorney General’s fraud hot line at [...]

Most of us are guilty of it.   A mortgage is meant to be paid off eventually, right?  So why did the lenders invent interest only loans and negative amortization loans?  Clearly to take advantage of buy low and sell high.  [...]

Jared Tornow, a San Clemente, Calif. man who acted as a mortgage broker under several umbrellas, including the Orange-based Lucrativo Real Estate Solutions Inc., was sentenced to 70 months in federal prison for his conviction on tax evasion, mail fraud [...]

Reality about the economy differs depending on whether “you talk to somebody that is in line for a huge cash bonus at a Wall Street firm and a small business on Main Street that’s trying to get a loan,” White [...]

The New Hampshire  Judicial Branch Office of Mediation and Arbitration (“OMA”) has launched voluntary foreclosure mediation program to assist borrowers and lenders, (in appropriate cases) where there is risk of foreclosure to have a facilitated discussion about whether it might [...]

Wells Fargo employees met with homeowners at the Baltimore Convention Center on Monday. The home preservation workshop is for those who have a mortgage with Wells Fargo or Wachovia. The goal is to help customers before it’s too late. “It’s [...]

The group, which was first investigated last March by The San Diego Union-Tribune, faces more than 54 charges, including foreclosure consultant fraud, grand theft and securities fraud. The group persuaded families to transfer ownership of their homes to two trusts, [...]

The ads for what appear to be loan modification scam companies are still being marketed all over the country. Here is one in Southern California from a marketing firm called, “Vipon Marketing.” City: Palmsprings – We’re looking for motivated experienced HIGH PRODUCING [...]