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Real Estate Related

Taxes May Be Due on Mortgage Settlement Checks. Slap!

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Double Whammy: Mortgage Settlement Payments Will Be Taxed (via Credit.com) If you are one of the more than 1.8 million people who have received a check from the Independent Foreclosure Review (IFR) settlement — or if you have one coming — don’t spend it all in one place. These payments are considered taxable income for state and federal income tax ... Read More »

How to Modify Your Mortgage for Free

Real Estate Concept

I’ve seen and covered so many mortgage modification scams that I wanted to show you how you can save yourself from being scammed, save thousands and modify your mortgage for free. Before you launch into paying anyone thousands for mortgage modification assistance you should explore your free options first. It’s important to know there is no law that requires any ... Read More »

Homeowners Getting Massive Mortgage Reductions Without Fancy Tricks

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Over the past few years there have been so many companies and people preying on homeowners in financial trouble. Wether it is the sale of a land trust, mortgage modification, mass joinder legal action against a lender, or whatever. The schemes and tricks never seem to end. But thanks to a reader who let me know about a recent Boston ... Read More »

Is Fulcrum360 Going to Start Offering Loan Modification Services Like Modify Utah?

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A tipster (send in your tips here) sent me an email and asked me to look at Fulcrum360 and said it was the new mortgage modification company with Paxton Guymon as registered agent. Guymon was also the registered agent of Modify Utah which suddenly closed up doors and left people stranded. – Source According to State of Utah Records the ... 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 »

Fidelity Land Trust, Heritage National Land Trust, and Sunshine State Land Trust Company in the News

Previously I wrote a couple of articles about Fidelity Land Trust, that appeared to be selling a service to consumers where the consumer would deed their property over to the land trust company, for a fee. In the past few days Fidelity Land Trust and others have resurfaced in the news, specifically in the Palm Beach Post. Kimberly Miller of ... Read More »

Tax Will be Due on Forgiven Mortgage Debt Unless Congress Acts

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Thanks to a reader and tipster (send in your tips here) I was alerted to the following story about the soon to be ending tax forgiveness regulation for homeowners getting mortgage debt forgiveness. “In 2007, Congress enacted the Mortgage Forgiveness Debt Relief Act, which prevents homeowners from paying taxes when their mortgage debt is forgiven due to a decline in ... Read More »

Making All Homes Affordable and La Paz Source Sued by Arizona Attorney General Over Loan Modifications

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Arizona Attorney General Tom Horne announced two lawsuits Wednesday against Phoenix- and Tucson-based mortgage modification companies that allegedly misrepresented their services. Named in the lawsuits were the Phoenix-based Making All Homes Affordable LLC and owner Albert Figueroa and the Tucson-based La Paz Source LLC, owners Francisco Ramos and Maria Beltran, their new operation, La Placita Multi Services LLC, and Arturo ... Read More »

Summit Legal Group Loan Modification Attorney – Disbarred

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William O’Toole, a Florida attorney that ran Summit Legal Group that claimed to be able to save homes from foreclosure and get loan modifications, has been disbarred for at least five years. The Florida Bar stated, “William Timothy O’Toole, 120 E. Oakland Park Blvd., Suite 105, Fort Lauderdale, disbarred effective immediately, following a May 22 court order. (Admitted to practice: ... Read More »

Beware of Omni Home Solutions and Rampart MMW Says Former Client

Darrell Neilander, a former client of the foreclosure/tust company/mass joinder companies Omni Home Solutions and Rampart MMW sent in the following contributed information in an effort to help inform others of his experience with two companies that are claiming to help save his property from foreclosure and get his home free and clear. I’ve written about these companies, Omni Home ... Read More »

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