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Real Estate Related

Chapter 13 Bankruptcy Trustee Sued by Bank of America to Stop Asking for Notes

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It appears Bank of America is none too happy with Henry “Hank” Hildebrand, a Tennessee chapter 13 bankruptcy trustee. Hank has been requiring Bank of America to produce the underling mortgage documents to prove they actually own the mortgages that are included in bankruptcy. When Bank of America can’t locate the paperwork, the trustee has been diverting the monthly payments ... Read More »

California Mortgage Modification Operators and Sales Rep Sentenced

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Three individuals charged with conspiracy to commit wire fraud and mail fraud for their roles in operating a mortgage loan modification scam were sentenced Friday in federal court in San Diego. United States District Court Judge Anthony J. Battaglia sentenced Ziad Nabil Mohammed Al Saffar to serve 21 months in federal prison and Sara Beth Bushore Rosengrant to serve 12 ... Read More »

Reducing Foreclosure Risks for Those Facing a Property Tax Lien

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The home mortgage crisis has received a lot of attention over the last few years. This has led to various efforts to preserve homeownership, including the creation of foreclosure mitigation programs through federal legislation as well as other local and state efforts. However, another threat to homeownership that should also be given careful consideration today is foreclosure as a result ... Read More »

Big Foreclosure Compensation, But Only for the Right Wrongs

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by Paul Kiel ProPublica Can you put a price on the damage caused by a wrongful foreclosure? Banking regulators have. And it’s $125,000. Or $60,000. Or $15,000. Or2026 it’s unclear. Last November, banking regulators launched a process to force the big banks to compensate homeowners victimized by their foreclosure abuses. Many crucial details remained unclear, including how much victims might ... Read More »

California Passes Protections for Homeowners Facing Foreclosure

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According to the L.A. Times, California legislators have passed new laws that now await Governor Brown’s signature. These laws would provide the toughest protections for consumers facing problems with the mortgage. “The legislation would make California the first state to prohibit lenders from “dual tracking,” the practice of negotiating with clients to modify a mortgage so that payments become more ... Read More »

Mortgage Modification Company Owner Shmuckler Sentenced to Prison

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Howard R. Shmuckler, 68, of Virginia Beach, Va., was sentenced yesterday to 90 months in prison, followed by three years of supervised release, for running a fraudulent mortgagerescue business that received substantial fees but actually modified clients’ mortgages in only a few cases. The court ordered that this sentence be served consecutive to a 75 month federal sentence Shmuckler received ... Read More »

Good News for California Mortgage Holders

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California attorney Kristen Crone from UFAN Legal Group wanted me to share this recent case result with readers who might be California mortgage holders. She labels it as good news for some. “New case just decided in California that essentially says, “When original lender holding both first and second deeds of trust securing signle residential mortgage forecloses nonjudicially under the ... Read More »

Reader Makes Claims and Raises Issues About Fieldstone Law and National Advocacy Law Center

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I received the following tip from a reader below about Fieldstone Law and National Advocacy Law Center. If you know anything that might be helpful, please post it in the comments section below. Get Out of Debt Guy – Twitter, G+, Facebook I have verified that [National Advocacy Law Center] was fieldstone law and law offices of frank barilla. If ... Read More »

Forensic Mortgage Loan Audit Scam Kicked in Nuts by FTC

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At the request of the Federal Trade Commission, a U.S. district court has halted an operation that allegedly preyed on financially vulnerable homeowners, convincing them to pay $1,995 or more by holding out bogus promises that they could help them avoid foreclosure and renegotiate their mortgages. The complaint was filed against Consumer Advocates Group, Paramount Asset Management Corp, National Financial ... Read More »

The Effect of Bankruptcy on Your Mortgage.

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What most residential mortgage borrowers do not understand is the a bankruptcy only discharges personal debt. A bankruptcy will not eliminate a security interest in property. In reality, a bankruptcy discharge may have no effect whatsoever on a borrower in relation to the mortgage if the debt is a non-recourse debt. To truly understand the effect of bankruptcy discharge on ... Read More »

Foreclosure Victim Guide on How to Get Compensation You Are Entitled To

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by Paul Kiel ProPublica, If you’re a victim of banking abuses during the foreclosure crisis, the government says it’ll make sure you receive compensation from your bank. It’s a simple idea. But for victims, determining who’s eligible, how to apply, and when you might get a check in the mail isn’t simple at all. So we built a list of ... Read More »

Billion Dollar Foreclosure Settlement Money Goes Elsewhere

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by Paul Kiel and Cora Currier ProPublica States have diverted $974 million from this year’s landmark mortgage settlement to pay down budget deficits or fund programs unrelated to the foreclosure crisis, according to a ProPublica analysis. That’s nearly forty percent of the $2.5 billion in penalties paid to the states under the agreement. The settlement, between five of the country’s ... Read More »

Mortgage Modification Company Former Owner Facing 80 years in Jail

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Isaak Khafizov, a former owner of American Home Recovery (AHR), a mortgage loan modification business, was found guilty yesterday in Manhattan federal court of conspiracy, mail fraud, and wire fraud in connection with a scheme to defraud distressed homeowners and lenders. Khafizov was convicted after a ten-day jury trial presided over by U.S. District Judge George B. Daniels. He was ... Read More »

Brookstone Law Mailer. The Line Between Clever Advertising and Too Much.

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A reader shared the following mailer from Brookstone Law. In the past I have been very critical of attorney mailers selling real estate related services that appeared to be official government looking forms or notices. Those forms did not disclose they were attorney advertising and some even had official looking government seals and logos. This mailer from Brookstone Law raises ... Read More »

Apparent Pamela Gressier – Prudent Law Fan – Not Happy With GetOutOfDebt.org

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The debt world is an interesting one. You get to meet all types of people. The latest interesting interaction began yesterday over Pamela Gressier – Prudent Law Group – Consumer Complaint – 5-2-2012 following the posting of this comment on the consumer complaint. Johnson You people seem to be obsessed with this one company and Pam Gressier. 33 reviews? What ... Read More »

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