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Tag Archives: foreclosure

We Are Trying to Buy a House With a Short Sale But It’s Going Nowhere. – Joy

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“Dear Andy, We are buyers. We have placed more than two offers on a short sale. First time, we were apparently out-bidded. Second, house was taken off market, then placed on active status and our #2 offer was put through with the Sellers paperwork to the bank. It was “accepted”. Offer made in October of last year. It is now ... Read More »

Heartless Criminal Activity In Foreclosure-Related Scam

Last week a man whom operated a foreclosure-rescue scam agreed to plead guilty after collecting $1.6 million from 1,100 distressed homeowners. The man, Frederic Alan Gladle, of Austin, Texas, ran his scam in Los Angeles and elsewhere where he falsely promised the owners of more than a thousand distressed properties that they could indefinitely postpone foreclosure sales. Gladle was charged ... Read More »

Home Start America CEO And Founder Sentenced To 50 Months In Prison For Role In $1.5 Million Fraud Conspiracy

CEO and founder of alleged real estate investment firm Home Start America (HSA), Michael Kaufman, was sentenced to 50 months in prison last week for his role in a long-running, large scale wire fraud conspiracy with loan officer David Wynn. According to documents filed and statements made in court: Kaufman founded HSA in Bloomfield, New Jersey, and at one time ... Read More »

My House Was Foreclosed On But the Bank Wants Money From Me. – Xiomara

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“Dear Andy, I owned a single family house in N.Y. First and second mortgage were held by chase. The house was foreclosed almost two years ago. I received a letter from an attorney in August asking me to pay 10% of the debt on the second about $10,000 now I received another letter from same firm but this time they ... Read More »

Fraudulent Rescue / Equity Skim Scheme Costs Dozens Over $6.2 Million

Between 2006 and 2008 real estate agent, Joanne Seeley, defrauded 34 homeowners and 14 mortgage companies in Pennsylvania out of more than $6.2 million in a fraudulent Foreclosure Rescue/Equity Skim scheme. Seeley was found guilty earlier this month on four counts of wire fraud and four counts of money laundering; each punishable by a maximum 20 years in prision and ... Read More »

First Ever Central Florida Law Firm To Be Forced To Resign From BBB

KEL law firm, formally Kaufman, Englett & Lynd, has been forced to resign from the Better Business Bureau (BBB) of Central Florida. The resignation of this Orlando based law firm marks “the first area law firm to be ousted in the business-rating agency’s 27-year history.” Apparently the BBB has complained that over the past year KEL has failed to resolve ... Read More »

Bank of America Was Going to Foreclose and Then Changed Their Mind. – Nancy

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“Dear Steve, We own a house in Urbandale,IA. My husband and I lost our jobs and our house was foreclosed on. Due to lack of legal advice (we used vastly case over-loaded IA. Legal Aid and a state funded mediation service) and lack of foreclosure knowledge we moved out of the house after the foreclosure. We continued attempted modification process ... Read More »

I Got Sick and We Lost the House in Foreclosure. Should We Consider Bankruptcy? – Katlyn

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“Dear Lewis, Myself and my husband bought a house very young (I was 19 and he was 21), but I had to have emergency back surgery and was unable to work for 6 months so we fell behind on everything relying only on his income. We had to forclose on our house less then a year ago. We have medical ... Read More »

Homeowners In Financial Distress Lose Over $1.2 Million To Mortgage “Rescue” Fraud

To the tune of a MasterCard commercial: $4.7 million in fradulent mortgage loans… $944,224 lost by lenders…. $1.2 million lost in equity to homeowners…. Shameful. Mary Ann Dean and Charles Donaldson pleaded guilty to the charge of conspiracy to commit wire fraud in connection with a mortgage fraud scheme of Sunset Mortgage Company. Dean was a loan originator and operator ... Read More »

My Ex-Husband Wants to Give Me the House. He Can’t Afford the Payments. – Kelly

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“Dear Steve, Ex and I divorced last year. I left him the house but the judge did tell us the decree did not relieve me of the mortgage responsibility. Unfortunately he was not able to refi because of his current income. Called me last week to ask if I’d like the house back because he cannot afford it any longer ... Read More »

Should We Fight Our Foreclosure or Walk Away? – Heather

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“Dear Steve, We filed bankruptcy and surrendered our home in the bankruptcy, due to denied a loan modification we could afford, Not sure if we should fight the forclousure or let it happen, we are so upside down on our townhome we just want to walk away from it, but we dont want to hurt our chances of ever having ... Read More »

I Was in Foreclosure, Settled, and the Mortgage Company Still Sends Me a Monthly Bill. – Maud

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“Dear Steve, I was in foreclosure in 2004. I got a lawyer but my lawyer sold me out. I paid paid him $3000. And the mortgage company paid him $5000. I asked him why did they give him money and I didn’t get any cash. He told me they gave him the money to settle the case. But on the ... Read More »

Nevada Bitch Slaps Bank of America Over Mortgage Mess

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by Paul Kiel, ProPublica The state of Nevada dramatically expanded its lawsuit against Bank of America today, turning the narrow case it filed late last year into a broadside that targets virtually all aspects of the bank’s mortgage operations. Bank of America has previously denied wrongdoing. The sweeping new suit could have repercussions far beyond Nevada’s borders. It further jeopardizes ... Read More »

Banks Still Foreclosing on Wrong People

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by Paul Kiel, ProPublica Four years into the foreclosure crisis, banks say they’ve made major improvements in how they handle struggling homeowners. They’ve promised, for example, not to foreclose on homeowners who are being considered for mortgage modifications. But that’s still happening. Consider the cases of Laurie Pinkerton and Lisa Peterson. The two women, both Californians and Bank of America ... Read More »

How Soon Can I Buy a New Home After Foreclosure? – Raeburn

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“Dear Andy, We refinanced our mortgage with the assurance we could refinance our home in two years. The company had our appraisal fixed to overstate the value of our house. The mortgage was sold to another comapny and when we went to refinance we were too far upside down for them to pursue helping us. In 2008 we tried for ... Read More »

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