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Mortgage Related

Crazy Ass Lawsuit Filed by Spire Law Group on Behalf of Consumers Against Alleged Bank Conspirators

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As an investigative journalist and consumer reporter I’ve read a number of lawsuits, probably in the thousands at this point. But a suit sent to me this morning by a tipster (send in your tips here) has to be among one of the strangest I’ve seen. The underlying legal foundation of the case might be sound and the Plaintiffs might ... Read More »

    Consumer Cries Foul Over Mortgage Reduction Mailer

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    A tipster (send in your tips here) sent in a mailer they just received from the Administrative Offices of Payment Reduction Service. Whatever that is? Their concern was that the mailer was unsolicited marketing for a mortgage they no longer have. That caused them to investigate the mailer further. The mailer does not identify who the sender is but does ... Read More »

      Doubts Spread About Independent Foreclosure Reviews

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      by Paul Kiel ProPublica The idea behind the Independent Foreclosure Review seems simple. During the peak of the foreclosure crisis, the banks broke laws and made errors that hurt homeowners. In response, the government mandated they compensate the victims. But there is growing evidence some banks are playing a major role in identifying the victims of their own abuses, raising ... Read More »

        California Bar Nails Another Attorney Collecting Fees for Loan Modifications

        The State Bar of California has filed disciplinary charges against a Garden Grove attorney accused of taking illegal advanced fees from distressed homeowners and partnering with non-lawyers in a large-scale loan modification scheme. Stephen Lyster Siringoringo [Bar # 264161] has been charged with 25 counts of misconduct including collecting advance fees for loan modification services, forming a partnership with a ... Read More »

          U.S. Attorney Charges Wells Fargo With Mortgage Fraud

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          A loyal reader sent in a tip about a recent suit by the Manhattan U.S. Attorney against Wells Fargo Bank over mortgage fraud. Preet Bharara, the United States Attorney for the Southern District of New York, Helen Kanovsky, General Counsel of the U.S. Department of Housing and Urban Development (“HUD”), and David A. Montoya, Inspector General of HUD, announced today ... Read More »

            ProPublica Raises Concerns Over Bank of America’s Foreclosure Review Process

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            by Paul Kiel ProPublica Late last year, the country’s bank regulators launched a massive program to evaluate millions of foreclosure cases and compensate homeowners who fell victim to the banks’ flawed or illegal practices. Regulators dubbed it the “Independent Foreclosure Review” to emphasize that the banks would not be making key decisions about loans they had made or serviced. But ... Read More »

              Washington State Goes After 40 Companies in Mortgage Foreclosure Rescue Fraud

              Thanks to a reader we learn about the State of Washington taking an aggressive and bold step against companies selling mortgage foreclosure rescue assistance. This action includes a number of actions against attorneys which are apparently not licensed to practice in the state. “Since 2009, DFI has charged an ever-increasing number of unlicensed businesses with preying upon desperate homeowners who ... Read More »

                New Life Financial Solutions, 1st United Consultants, and Expense Management America Exposed by Get Out of Debt Guy and Nailed by FTC

                As far back as early 2011, the GetOutOfDebt.org site has been publishing information about and warning consumers about suspicious and concerning practices by a number of interrelated companies promising financial help and foreclosure relief. These schemes were not uncovered by the site alone. Readers and insiders also sent in critical information that led to the unraveling of the operations. From ... Read More »

                  Mortgage Modification and Foreclosure Rescue Companies Hammered by FTC

                  The Federal Trade Commission has announced some sweeping actions to protect homeowners that have been harmed by companies promising mortgage assistance but who allegedly only took money and ultimately didn’t deliver the help and outcomes promised. Prime Legal Plans/Reaching U Network. The FTC alleged that from at least mid-2010, the defendants behind this scheme marketed mortgage relief services in English ... Read More »

                    California Man Arrested Who Had Consumers Deed Property to Trust to Lower Mortgage

                    Alan David Tikal, 44, of Brentwood, Contra Costa County, Calif., was arrested on Friday at his home on a complaint charging him with mail fraud for masterminding a multistate scam that defrauded distressed homeowners, announced the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and United States Attorney for the Eastern District of California Benjamin ... Read More »

                      Realty Attorney Group APC and Realty Group & Consulting Seized in California

                      The State Bar of California announced today it has shut down the operations of an Ontario lawyer who allowed his name and law license to be used in a scheme to defraud distressed homeowners. The bar obtained a court order (attached) this morning to assume jurisdiction over the law practice of Gary David Tracy, 50, (bar # 167212). His firm, ... Read More »

                        Certified Forensic Loan Auditors Offers Quiet Title Class

                        A readers sent in a link to an upcoming class on “Achieving Principal Reductions with Lenders by Creating Leverage,” a class on mortgage securitization and quiet title actions. – Source It’s an interesting class to see, especially as hard as the Florida Attorney General hit some land trust companies in Florida this week who were selling quiet title debt relief. ... Read More »

                          Details on Florida Attorney General Lawsuit Against Fidelity Land Trust, Ed Cherry, Larry Diodato and Others

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                          The following is additional information about the complaint filed against Edward Cherry, Lawrence Diodato, Paul Gellenbeck, Shane Frankovic, Anthony C. Pintsopoulos, The Fidelity Land Trust Company, LLC, The Sunshine State Land Trust Company, LLC, Florida Land Trust Services, LLC, Growth Capital Funding, LLC, August Belmont And Company, LLC, Esquire Litigation Support, LLC, Click Media Consulting, LLC doing business as Florida ... Read More »

                            Fidelity Land Trust, Ed Cherry, Larry Diodato, Paul Gallenbeck, and Others Named in Florida AG Suit to Shut Them Down

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                            The Palm Beach post today is reporting the Florida Attorney General has filed a 45 page suit against some familiar names to readers of this site. The defendants include Edward Cherry, August Belmont & Company, Lawrence Diodato, Fidelity land Trust, Shane Frankovic, Anthony Pintsopoulos, Click Media Consulting, Florida Home Rescue Mission, Esquire Litigation Support, Growth Capital Funding, Sunshine State Land ... Read More »

                              NC AG Warns Consumers About Community Mortgage Assistance Program, Lender Exchange, and Tidewater Financial

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                              A tipster (send in your tips here) has alerted me that North Carolina has recently taken action against some foreclosure rescue companies. Three North Carolina companies that claim to help people win lower mortgage payments and save their homes from foreclosures are instead ripping off homeowners and must be shut down, Attorney General Roy Cooper said Monday. “These schemes promise ... Read More »

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