Posts tagged as:

Foreclosure Scams

5 Southern California mortgage crooks sent to prison

by Evan Bedard

Five Southern California people were sent to prison this week for a multi-million dollar refinance scam that resulted in $13 million in losses. These individuals targeted more than one hundred struggling homeowners and each person is serving a term ranging from one to fifteen years in prison.

The two masterminds of this huge mortgage scheme are Martha [...]

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Summer Creek Homes & Chris Shepard: They stole my home!

by Moe Bedard

Submitted by Homeowner, Ron Calvin: I received two letters asking to submit more docs for loan mod. So I submit, meanwhile Chris Shepard dba Summer Creek Homes puts title in his name. I called Linh Nguyen my negotiator and he tells me that the title could not be in his name because AMHSI owns the property. [...]

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Loan Modification Scammer Receives 12 Years in Prison

by Moe Bedard

This has to be the longest prison sentence that I have seen for scamming homeowners and scammers really should take notice.
You know the old saying, “If you can’t do the time, don’t do the crime?” For some reason I just do not think that these little creepy mortgage and real estate scammers do not analyse their crimes deep [...]

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Government Wants School Children and Homeowners to Spot Scams

by Moe Bedard

And it is one of the first places targeted in the homeowner education campaign launched on Monday by government agencies, local leaders and housing advocates to stop scammers preying on desperate borrowers nationwide.
Officials do not know how many scams have been perpetrated among millions of American families who have lost their homes or face foreclosure. [...]

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Company banned by NC AG operating under new name

by Moe Bedard

The investigations Green told her about are part of what the AG’s office calls “Operation Loan Lies,” a nationwide crackdown on loan modification and foreclosure relief companies that local and state officials call “scams.” The office has obtained a preliminary injunction against 21st Century Legal Services. They also got a temporary restraining order for a [...]

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Why Authorities Haven’t Stopped the Foreclosure ‘Rescue’ Boom

by Moe Bedard

Four states have sued 21st Century, and at least three more have open investigations. Over 150 consumers from more than 30 states have filed complaints against 21st Century with the Better Business Bureau. No active firm has more complaints.
Yet the company forges on. Operating under a new name, Fidelity National Legal Services, it continues to [...]

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AG Warns Loan Modification Companies

by Moe Bedard

The attorney general sent out letters last week to 386 loan modification companies, ordering them to register with his office and post a $100,000 bond, or face criminal penalties and fines. He said none has posted a bond so far.
“If you pay these people, you’re not going to get it back. They’re not financially solvent,” [...]

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The loan modification business is officially dead

by Moe Bedard

Earlier this week California Attorney General, Gerry Brown placed a legal silver bullet in the hearts of hundreds of loan modification firms across the state. With one swift press release and a subsequent letter to the offending parties, Brown has put an end to California’s most recent gold rush.
This past Wednesday the Attorney General’s office issued a stern [...]

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I help people modifying their loans

by Moe Bedard

This comment was just left on my blog by a lady named Irene and I wanted to point out the claims made by this poster. Basically it is an advertisement for her services and not really a comment or anything of value.
ATTENTION HOMEOWNERS: DO NOT CALL IRENE OR THIS NUMBER BELOW!
This is only being posted to [...]

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Santoya Financial sued by the Arizona Attorney General

by Moe Bedard

A consumer-fraud lawsuit has been filed against the Phoenix-based loan-modification firm Santoya Financial.
The Arizona attorney general filed the suit Monday alleging Santoya is deceiving consumers with its advertising, Web site and news releases.
According to the suit, Santoya claims its loan-modification services are approved by the U.S. Department of Housing and Urban Development, which is not [...]

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Brown and FTC to Unveil Nationwide Crackdown on Loan Modification Scams Wednesday

by Moe Bedard

This is a long time coming.
It looks like California Attorney General Brown and the FTC will announce a nationwide crackdown on loan modification scams this Wednesday in Los Angeles.  The announcement will name massive loan modification scams operating in Los Angeles and Orange Counties.
The AG & FTC have dubbed the crackdown, “Operation Loan Lies.”
I am eagerly awaiting [...]

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Predatory Landlords: The Latest Foreclosure Scam

by Moe Bedard

By Moe Bedard
The simple act of renting a home for Main Street Americans has become a sick game of “Where’s the foreclosure?” or another popular rental hit, “Let’s see how long we can rent in this home before it falls into foreclosure?”
The scam of renting a home when it is in foreclosure and not paying [...]

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Foreclosure Scams Proliferate: New Standards Near?

by Moe Bedard

By Moe Bedard
Yet another Attorney General has gone public about foreclosure consultants in his state. Missouri Attorney General Chris Koster is fed up with scams perpetrated by foreclosure consultants and mortgage brokers in his state. Koster seems enraged, suing firms from California to Ohio for misleading lending practices and misleading foreclosure relief services. In [...]

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Court Grants Emergency Request to Halt Jacksonville Foreclosure Rescue Company’s Up-Front Fees

by Moe Bedard

TALLAHASSEE, FL—Attorney General Bill McCollum today announced that his office has obtained a court order temporarily prohibiting a Jacksonville company from charging up-front fees for foreclosure-related rescue services. According to the order issued by the Duval County Circuit Court, National Foreclosure Counseling Services Corp. is barred from charging homeowners any fee in advance for providing [...]

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Florida Bar Ethics Alert: Providing Legal Services to Distressed Homeowners

by Moe Bedard

The Florida Bar’s Ethics Hotline recently has received numerous calls from lawyers who have been contacted by non-lawyers seeking to set up an arrangement in which the lawyers are involved in loan modifications, short sales, and other foreclosure-related rescue services on behalf of distressed homeowners.
 These non-lawyers include mortgage brokers, financial management advisors, foreclosure “consultants” and [...]

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An Answer to Unemployment, Mortgage Servicing and Foreclosure Scams

by Moe Bedard

Our country is facing many economic crises and they all seem to be reaching the boiling point simultaneously. From housing to unemployment, many Main Street Americans are suffering from foreclosures and layoffs by the millions.
I have a possible solution that may kill three Main Street viruses in one fell swoop (foreclosures, unemployment and foreclosure scams). This [...]

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East Coast Loan Modification Firm Accused of Scamming Homeowners

by Moe Bedard

It looks like American Modification Agency or AmeriMod is in the papers again and it isn’t for fixing loans and saving homes.
I wrote about the Long Island based loan modification firm back in January when they were sued in a $100 million class action:
Former sales agents say working for AMA was a nightmare. They received [...]

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Loan Modification Funny Business: Loan Mods From Your Kitchen Table

by Moe Bedard

Loan modifications are the talk of the town and a new service sector of business that is quickly getting a bad name for the few and the proud. When I see ads like the one below hit my Google alert inbox, I just say, “Holy $h@ It’s some of the same ole slimy mortgage brokers [...]

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First let me disclose that I am a “renter” and my investor/landlord/Realtor is being foreclosed on

by Moe Bedard

“I love LA!” Well, at least their new policies in regards to tenant rights of recently foreclosed homes.
However, let me disclose that I am not from Los Angeles, I am from the IE (Inland Empire,CA.) and my city of Corona and County of Riverside has done so little to address the foreclosure crisis that [...]

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Illegal Loan Modification Companies: Welcome to the hottest business since subprime!

by Moe Bedard

Homeowner Alert: “Typically, the scam started with a flyer sent to the homeowner and many of these mailers look as if they may come from their lender or even the government. But, they are coming from scammers.”
Many of these mortgage brokers, loan officers and real estate agents literally make me sick. Not all of [...]

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