Scam & Fraud News

Discover the latest mortgage, real estate and financial scams. Don’t be a victim of white collar fraud and criminals.

Mortgage Modification Scam via Freedom Companies Lending aka Freedom Financial Mortgage

(Source: BBB) – Boise, Idaho . . . Gavin Gee, director of the Idaho Department of Finance, today warned that a company calling itself Freedom Companies Marketing, Inc., Freedom Companies, Inc., Freedom Companies Lending, and Freedom Financial Mortgage (Freedom) has [...]


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Real Estate Agent Charged in Scheme

SEAL BEACH (Source: Press Telagram By Tracy Manzer)  — A Seal Beach real estate agent has been charged with 34 felony counts in connection with a scheme that saw victims buy into a fake investment pool to the tune of [...]


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Two Arrested in Real Estate Fraud Case

(Source: The Press Enterprise BY LESLIE BERKMAN) – Two men have been arrested by the San Bernardino County district attorney’s real estate fraud unit and charged with forgery and recording fake documents in an alleged scheme to defraud homeowners trying [...]


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Marketers Falsely Claimed to Be Affiliated with Federal Assistance Programs, Agency Alleges

(Source: Media-Newswire.com) – The Federal Trade Commission put an end to three schemes that claimed they would help consumers with their mortgage and debt problems, as part of settlements with defendants who allegedly claimed a bogus affiliation with government assistance [...]


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Two Arrested in Real Estate Fraud Scheme

(Source: LomaLinda Patch By Bill Norris) – Two people were arrested after investigators from the San Bernardino County District Attorney’s Office Real Estate Fraud Unit searched a Fontana realty office.


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Va. AG Settles With Loan Modification Company

RICHMOND, Va. (Source: Legal Newsline BY BRYAN COHEN) – Virginia Attorney General Ken Cuccinelli announced a lawsuit on Thursday against a Chesapeake, Va.-based mortgage loan modification company for allegedly charging illegal advance fees for its “foreclosure rescue” services.


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Fennville Woman Convicted on 9 Counts for Mortgage Fraud

FENNVILLE, Mich. (Source: NEWSCHANNEL 3) – A judge in Allegan County has convicted a Fennville woman on nine counts for her role in a mortgage fraud rescue scheme.


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Va Settles Foreclosure Rescue Case, Files Another

(Source: Bloomberg Businessweek) – Virginia has reached a settlement with one mortgage loan modification company and sued another.


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Seven Firms Charged in Mortgage Loan Scheme

MATAWAN (Source: GM News) — A borough firm was among seven mortgage loan modification firms targeted by the state Division of Consumer Affairs for illegally offering mortgage modification services to homeowners in dire financial straits.


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Kramer & Kaslow: California State Bar Shuts Down Rogue Law Firm

(Source: LoanSafe.org Exclusive) – Sources have reported that the California Bar Association have closed the law offices of Philip A. Kramer of Kramer & Kaslow, and taken custody of the law firm’s files.   Clients of the law firm can obtain [...]


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Former North Castle Republican Chairwoman Indicted For Mortgage Fraud

WHITE PLAINS, NY (Source: WCBS 880) – Former North Castle Republican chairwoman Loronda Murphy has been indicted for mortgage fraud.


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Mortgage Fraud: An Industry That Won’t Quit

NEW YORK (Source: MarketWatch) — Through all the ups and downs of the U.S. economy, at least one industry continues to thrive.


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NC Fraud Scheme Hits 2 Banks, 1 Cheated Last Year

(Source: Bloomberg Businessweek By EMERY P. DALESIO) – A crooked loan officer, a disbarred attorney and a third man could get long prison sentences for their role in a mortgage fraud that victimized two North Carolina banks, federal prosecutors said [...]


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On Shaky Financial Ground? 3 Reasons Why Loan Modifications Won’t Solve Your Problems

(Source: Fox News) – Let’s assume you live in one of the geographical areas hardest hit by the home mortgage crisis. The economic boom that your lender assured you would continue to boost the value of your home has turned [...]


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Nevada Judge Sentences 2 Men in Connection with Loan Modification Scam, Orders Them to Pay Up

LAS VEGAS (Source: The republic) — The Nevada Attorney General says two men have been sentenced and ordered to pay restitution in connection with a mortgage scam involving Nevada homeowners.


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4 Arrested In Mortgage Modification Scam

MIAMI (Source: Local10) – Four members of a Miami company were arrested, accused of stealing $750,000 from hundreds of clients in a mortgage modification scam.


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Miami Mortgage Loan Modifiers Arrested on Fraud, Racketeering Charges

(Source: By Diane C. Lade, Sun Sentinel) – The owners of a Miami home loan modification company were arrested on criminal charges Wednesday for allegedly defrauding 500 homeowners statewide out of $750,000, Florida Attorney General Pam Bondi said. The Attorney [...]


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Injunction Obtained in New York Loan Modification Scam Lawsuit Against Homesafe America, Inc.

NEW YORK, NY – August 16, 2011 – (Source: The Lawyers’ Committee and Davis Polk) — This morning, Justice John M. Galasso of the Nassau County Supreme Court issued a sweeping order shutting down one of New York’s largest mortgage [...]


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2 Sentenced for Mortgage Scam, Ordered to Pay Restitution

(Source: Las Vegas Sun By Steve Kanigher) – A District Court judge sentenced one man to prison and another man to probation in connection with a mortgage scam involving Nevada homeowners, the Nevada attorney general’s office said today.


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Judge Slams Door on Mortgage Ripoffs Homesafe America Inc. and United Solutions

(Source: New York Daily News) – A judge shut down a Long Island mortgage brokerage accused of ripping off hundreds of struggling homeowners through loan modification scams.


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Is Now the Time to Refinance Your Mortgage?

(Source: Daily Finance By Catherine New) – Some homeowners in their 50s are taking advantage of historic low rates to refinance their homes and score themselves a mortgage-free retirement.


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The American Dream Sometimes Turns Into The American Scheme

(Source: MartinezPatch) – By Jim CaroompasEditor’s Note: This is the first in what will be a series of stories called Dispatches From The American Dream, where we take a look at the changing face of the American Dream in Martinez. [...]


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FBI Investigating Home-Loan Frauds

(Source: Colin Campbell, Press TV, Washington) – But the FBI is saying that isn’t the case for all realtors. In fact, crimes involving mortgages are on the rise. Mortgage and investment schemes targeting troubled U.S. homeowners jumped in 2010 and [...]


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Trafford Realty Firm Owner Sean Kerrigan Indicted

(Source: By Torsten Ove, Pittsburgh Post-Gazette) – The owner of a Trafford real estate company has been indicted on charges of structuring bank withdrawals with a fugitive who disappeared in 2008.


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DFI Warns Against Possible Loan Modification Scam by Summit Alliance Group LLC

(Source: The News Tribune Posted By C.R. Roberts) – The state Department of Financial Institutions is announcing that it has received complaints from consumers relating to loan modification services that were to be – but were not – provided by [...]


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Taskforce to Investigate Real Estate Scam

(Source: ABC News) – Government agencies in Western Australia have launched a taskforce to investigate a reported real estate scam – the second of its kind in a year.


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Perth Scam Targets Absent Property Owners

(Source: SMH) – A Perth couple who returned home to find their property had been sold without their knowledge or permission might not be the only victims of a real estate scam targeting absent owners.


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State Files Suit Against Bank of America Unit in Foreclosure Mess

Aug. 06 (Source: By Christine Harvey, The Seattle Times) – Washington state has taken on a subsidiary of Bank of America, charging it with illegally foreclosing on thousands of homeowners in the last three years.


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Homeowners Receive False Foreclosure Notes

(Source: Albert Lea Tribune) – Homeowners experiencing troubles with mortgage lenders after their monthly mortgage payments are modified are common in Minnesota.


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Real Estate Fraud Is “Bigger Than Ever”

(Source: Miami New Times) – Guilty, guilty: Elroy Phillips, who claims to have evidence proving he is innocent, and the dirty cop he claims set him up should be sitting together in a cell (“Almost Innocent,” Eric Barton, August 4). [...]


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