mortgage fraud
Loan Application and Retirement Plans
Just because you have retirement plans on your mind does not mean you can’t get a loan, but you must be truthful on the loan application. Q: A caller to your radio show recently indicated that he was going to …
Short Sale Fraud In The Sale Of Home
Short sale fraud is possible when a seller decides to sell his home with the intent to keep it for himself by using a quitclaim deed. Q: My brother is in foreclosure on his house. He is trying to get …
Foreclosure Freeze: Did the Banks Lie on Their Foreclosure Affidavits?
Foreclosure Freeze: Did the Banks Lie on Their Foreclosure Affidavits? Hundreds of thousands of foreclosures are in jeopardy as a national foreclosure freeze takes hold. Today, Attorneys General in 50 states announced a joint investigation into whether the foreclosure robo-signers actually read the underlying foreclosure documents to make sure they were correct – as they swore in their affidavits. Lying on an affidavit is a big deal because filing an affidavit is like taking an oath.
Fraudulent Loan Leads To Bank Seizure Of Short Sale
Countrywide loan fraud led to bank seizure for unsuspecting homeowner. Her loan was deemed fraudulent and the homeowner discovered a bank seizure on her rental home. The property is not in foreclosure but the owner was in the process of selling her rental home in a short sale. Her best option may be to file lawsuit against the lender. Contacting a real estate attorney is the next step.
FBI Releases 2009 Mortgage Fraud Report
The FBI has released a report describing the mortgage fraud crimes of the 2009 fiscal year. The report has notes an increase in mortgage fraud activity and names the regions and states with the most activity. In addition, the report lists the types of crimes included under mortgage fraud and its associated tactics, describing most of them as for-profit endeavors by individuals exploiting the weak real estate market. Also, the report names the types of individuals acting as perpetrators in mortgage fraud as well as the direct and indirect victims of the crimes. Financially, the report describes the FBI’s reactions to the mortgage fraud activity and its outlook on the future of the situation.
FBI Releases 2009 Mortgage Fraud Report
FBI Releases 2009 Mortgage Fraud Report
The FBI has released a report describing the mortgage fraud crimes of the 2009 fiscal year. The report has notes an increase in mortgage fraud activity and names the regions and states with the most activity. In addition, the report lists the types of crimes included under mortgage fraud and its associated tactics, describing most of them as for-profit endeavors by individuals exploiting the weak real estate market. Also, the report names the types of individuals acting as perpetrators in mortgage fraud as well as the direct and indirect victims of the crimes. Financially, the report describes the FBI’s reactions to the mortgage fraud activity and its outlook on the future of the situation.
Mortgage Interest Rate Switch And Fraud Recently Discovered By Borrower
As borrowers keep their loans longer and can’t refinance their mortgage loans, they also find out that the loan they thought they obtained somehow is different years later. For some this fraud is discovered when their interest rate changes and they find out that the promised interest rate is different than the one quoted by the current lender. Make sure you keep copies of your loan documents from the closing or settlement. While it’s too late now, you should make sure the documents you sign at the closing or settlement match the business terms, including the interest rate, and limits on changes, that were promised to you.
Forensic Mortgage Loan Audit Review May Be Latest Scam
There are all types of scam artists out there. Sometimes it’s hard to tell the difference between legitimate companies and scam artists.
There are people out there claiming to be forensic mortgage loan auditors. These people have expertise in the rules and regulations governing mortgage loans and if a lender has failed to comply with federal or state laws governing mortgage loans, you might benefit from their services. But not everybody benefits. Particularly if the forensic auditor requires a hefty upfront payment for services. As with any service out there, make sure you check the company out and never pay anybody anything until they are able to successfully obtain what they have promised you. The more you know and learn, the better off you will be.
Mortgage Fraud Cases Continue And May Include Current Lender
If you find that documents you signed have been altered, you may be the victim of mortgage fraud. Check over all of the documents you signed and make sure the information is accurate. You should check your documents before you sign them and make sure you get copies of the documents you signed. If you suspect you are a victim of mortgage fraud, you should find a real estate attorney to help you.
Ilyce Glink Show Notes – September 20, 2009
Ilyce Glink Show Notes September 20, 2009: Umemployment numbers up and down, job creation elusive; best time for prepaying mortgage; How to Profit from Foreclosures Event October 24, 2009. Use discount code: crystal; FREE BOOKS AND EBOOK DEAL. SEE BELOW FOR DETAILS. Taylor Bean Whitaker links;
