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…
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;
Taylor Bean and Whitaker Mortgage Company Hotline Information for Borrowers
NEW UPDATE 9/10/09: Today's update is an edited, condensed transcript of my conversation with BOA spokesperson Rick Simon. Cenlar is a legitimate loan servicing company and Roundpoint is NOT A SCAM. The situation is confusing, but not fake. 9/01/09 Yesterday, we reported that Bank of America taking…
Real Estate Fraud: Real Estate Broker Takes The Home But Not The Mortgage
How do you know if you're the victim of a real estate fraud, a housing scam or mortgage fraud? A reader listed his house for sale with an investor who was also a Realtor. The investor/Realtor transferred ownership of the homeowner's property to himself using a quit claim deed, but left the homeowner…
New Mortgage Fraud Scams Emerged in 2008, FBI Says
In its 2008 survey of mortgage fraud, the FBI concluded there is a strong correlation between mortgage fraud and distressed real estate markets. Indeed, some of the states with the highest levels of mortgage fraud also had the highest levels of foreclosures. But new mortgage fraud scams emerged in…
FBI Reports Mortgage Fraud and Mortgage Scams Increase in 2008
Mortgage fraud and mortgage scams increased dramatically in 2008, as homeowners found themselves pushed into mortgages they couldn't afford, or lenders realized they had approved loans based on false premises. The survey found that mortgage fraud complaints surged in 2008. At least 63 percent of all…
Installment Contract for Deed Can Result in Mortgage Fraud
A home buyer purchased a home using an installment contract for deed. She paid an escrow company, which then paid out her mortgage, taxes, insurance and homeowner association dues - or so she thought. Now she finds out that the escrow company/mortgage broker hasn't been making any payments, and the…
Reverse Mortgage Fraud Increases - Prompts FBI Warning
As the economy continues its downturn, reverse mortgages are on the rise. Reverse mortgages allow senior citizens to tap into their home’s equity and receive monthly payments for a lender. To be eligible for a reverse mortgage you must be aged 62 or older and own your own home or have a small…
Contact Lawyer To Determine Mortgage Loan Validity
How can you determine whether a mortgage loan is valid? You need to check with a real estate lawyer who can evaluate the circumstances around which the mortgage loan was issued. If a mortgage lender issued a mortgage to one spouse while the other spouse was incapacitated, that may make the mortgage…
Mortgage Industry Group Calls For Regulation
Perhaps they saw the writing on the wall. The Mortgage Bankers Association is calling for federal regulation of the mortgage lending industry. And not only do they want it, they're offering bullet points for what Congress should include in the legislation!
Is it a conflict of interest? MBA is…
Most Mortgage Fraud Occurs In Rhode Island
Rhode Island ranks first in the U.S. for mortgage fraud, reported the Mortgage Asset Research Institute on Monday at a conference in Las Vegas. It jumps up from fifth place in 2007.
The other states in the top 10 are: 2. Florida 3. Illinois 4. Georgia 5. Maryland 6. New York 7. Michigan 8. California…
Homeowner's Mortgage Lender May Be Predatory Lender
How do you know if your mortgage company is a predatory lender. A predatory lender often does not take your account out of arrears even if you pay your late payments plus interest to bring your account current. Call your attorney general's office and refinance the mortgage with another lender if you…
Choose Mortgage Advice From Attorney Instead Of Web
After all the news about mortgage fraud and mortgage scams you may be seeking mortgage advice. But should mortgage advice come from a Web site or a real estate attorney? While it's good to check your mortgage documents before the closing, many mortgage fraud incidents or scams happen before then. In…
Mortgage Brokers Discuss Ilyce's Consumer Advice
Home loan borrowers sometimes break a mortgage loan lock, which means that he or she locked in an interest rate and then walked away from the loan prior to closing. Mortgage brokers dislike it when borrowers break a mortgage loan lock because it may put the mortgage broker in bad favor with lenders…
Number of Mortgage Fraud Reports Increases By 45 Percent
Reported incidents of mortgage fraud are on the rise despite fewer loan applications, according to a report by the Mortgage Asset Research Institute. In the second quarter of 2008, reported incidents of fraud increased by 45 percent, compared with the first quarter in 2007.
Florida leads the country…
$700 Billion? Are You Serious?
The email was sent out from Treasury at 7:03pm last night. Treasury Secretary Henry Paulson is asking for $700 billion to bail out the bad mortgages still being held by world financial markets.
$700 Billion? Are you serious? It's really more like $1.3 TRILLION already:
Bear Stearns $25 to $50 billion…
Information From Today's Ilyce Glink Show - August 31, 2008
Today on the Ilyce Glink Show, we talked about Integrity Bank, the Alpharetta, Ga.-based bank that failed on Friday. It was the 10th bank to fail this year. Regions Financial Corp has assumed the assets of Integrity Bank and all of its 5 branches will reopen on Tuesday as Regions Bank branches…
ThinkGlink Radio Show for Aug 31, 2008
Today on the Ilyce Glink Show, Ilyce talked about Integrity Bank, the Alpharetta, Ga.-based bank that failed on Friday. It was the 10th bank to fail this year. Regions Financial Corp has assumed the assets of Integrity Bank and all of its 5 branches will reopen on Tuesday as Regions Bank branches…
Mortgage Fraud Reports Increase
The number of cases of mortgage fraud reported to a mortgage fraud tracking database increased by 42 percent during the first quarter of 2008 from the same time last year, according to MARI, the Mortgage Asset Research Institute, an industry research company.
The most common type of mortgage fraud…
How Can You Protect Yourself From Mortgage Fraud?
The FBI recently released tips on how to protect yourself from mortgage fraud:
Get referrals and check licenses for mortgage and real estate professionals. FBI says most of them are honest, but it pays to check.
Don't just rely on your real estate agent for home prices in your area. Do your own…
Mortgage fraud is a given in the marketplace whether times are good or bad, but recently mortgage fraud seems to have exploded into the public conscience. While information about mortgage fraud seems to be everywhere it can still seem unclear as to what exactly mortgage fraud is.
Mortgage fraud is fast becoming a nationwide problem. Florida, Nevada, Michigan, California and Utah topped a recent mortgage fraud list. The mortgage fraud report illustrates that mortgage fraud is now nationwide, and no longer just concentrated in California, Florida, Texas and several high…
What can you the consumer do to protect yourself from falling victim to mortgage fraud? Learn some ways to figure out if your lender is trustworthy and steers clear of mortgage fraud.
Mortgage Lenders And Mortgage Fraud
What can banks and mortgage lenders do to protect themselves from falling victim to mortgage fraud? How do they protect themselves mortgage fraud? The best way for mortgage lenders to protect themselves from mortgage fraud is to practice identity risk management.
Ilyce Glink Show, Sunday, June 22, 2008
Today on the Ilyce Glink show, we'll be talking about Operation Malicious Mortgage, the FBI's huge national takedown of mortgage fraud schemes. We'll also be talking about how the FHA is going to renew attempts to get rid of third-party downpayment programs, like Nehemiah, and why that's so…
