Latest Posts
Home > Debt Articles > Mortgage Related

Mortgage Related

Paymap and LoanCare Nailed for Stupid Simple Reason

CFPB-1801

Yesterday the Consumer Financial Protection Bureau announced they took action against companies that sold consumers on an equity accelerator program. Typically these programs make payments every two weeks instead of once a month and that gives people one extra mortgage payment a year to reduce the balance owed faster. But the unbelievable part of this program delivery is contained in ... Read More »

    Debt Relief Owners and Salespeople Headed to Jail for Fraud

    mans hands behind bars in jail or prison

    On June 9, 2015, a federal jury convicted three California residents who worked at a Rancho Cucamonga, Calif., business that offered bogus loan modification programs to thousands of financially distressed homeowners who lost more than $7 million when they paid for services, including loan modifications, that were never provided. The three Southland, Calif., residents were associated with a telemarketing operation ... Read More »

      Court Halts Mortgage Relief Operation that Targeted Homeowners Facing Foreclosure

      Woman in home office with computer and paperwork frowning

      Some People Lost Their Homes: Paid Defendants Instead of Making Mortgage Payments At the Federal Trade Commission’s request, a federal court halted a sham operation that allegedly told financially distressed homeowners it would help get their mortgages modified, but instead effectively stole their mortgage payments, leading some to foreclosure and bankruptcy. The FTC seeks to permanently stop the scheme and ... Read More »

        Family Makes Their Mortgage Payments But Gets Foreclosed On Anyway

        oops

        How ridiculous would it be if you made all your mortgage payments in full and on time for years and your mortgage lender foreclosed on you anyway? Surely that could never happen. Unfortunately, that’s exactly what happened to Henry and Elizabeth Manfrediz, a lovely married couple with four kids and a cute dog, who live in Florida. Henry and Elizabeth ... Read More »

          Home Relief Foundation Defendants Barred from Selling Debt Relief Services

          ftc

          FTC Case Was Brought as Part of Multi-Agency Crackdown on Mortgage Relief Scams Austin, Texas-based Home Relief Foundation, Inc. and its two owners have settled Federal Trade Commission charges that they illegally charged up-front fees for services they falsely promised would reduce consumers’ mortgage interest rates or monthly payments. The settlement order prohibits the defendants from selling debt relief products ... Read More »

            CC Brown Players Charged in Mortgage Modification Scheme

            law books

            WASHINGTON, DC – Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Carlie Christensen, United States Attorney for the District of Utah, today announced that a 40-count federal indictment unsealed on March 5, 2015, in U.S. District Court in Salt Lake City charges six individuals with violations of federal law in what the indictment alleges was ... Read More »

              California Man Sentenced to 24 Years in Fed Prison for Foreclosure Rescue Scam

              mans hands behind bars in jail or prison

              Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Benjamin B. Wagner, United States Attorney for the Eastern District of California, today announced that Alan David Tikal, 46, formerly of Brentwood, Calif., was sentenced on Thursday by United States District Judge Troy L. Nunley to 24 years in federal prison for his convictions on 11 counts ... Read More »

                Mortgage Relief Marketers & Danielson Law Group Settle With FTC

                ftc

                A group of Utah-based defendants claiming to be legal experts in loan modifications have settled Federal Trade Commission charges that they broke the law by conning consumers into paying hefty fees for worthless mortgage relief services. The five proposed orders settling the FTC’s charges ban the defendants, led by Philip J. Danielson and his company, Danielson Law Group, from offering ... Read More »

                  Consumers With Mortgage Problems Continue to be Gullible Lambs

                  Big Scam Dog

                  After writing about consumer debt issues for decades now, I have to admit it gets very frustrating watching people fall for the same old scams over and over. Do people never learn or does commonsense and logic just fly out the window the minute someone shoves an official looking document in your face? The SIGTARP (Special Inspector General for the ... Read More »

                    FTC Shuts Down Scads of Phony Mortgage Relief Scammers

                    Stop Countrywide Mortgage Abuse

                    The Federal Trade Commission has announced a federal court has entered orders against 22 defendants who offered financially strapped consumers fake home-loan modification services that the FTC claims violated the FTC Act and the Mortgage Assistance Relief Services (MARS) Rule. The MARS Rule bans mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer ... Read More »

                      Reader Expresses Concern Over Spire Law Group Going POOF!

                      Screen Shot 2014-12-02 at 10.17.09 AM

                      I received the following tip from a reader, send your tips in here. Apparently Spire Law Group has finally fully imploded. The reader says, “Spire Law is closed down( Aug 2014) leaving all their clients holding the bag. The Abeel v Bank of America lawsuit was dismissed. As a way to keep their clients at bay, Spire Law came up ... Read More »

                        How The Advocacy For Consumer Rights Helps Consumers

                        Magnifying Glass - Q&A

                        Recently, Leyton Ward and I, who used to be in a tussle with, had a chance to sit down together and meet. He was gracious to share what TAFCR does and why most people don’t understand it. After spending time with Leyton I will admit what he tries to do to help consumers with mortgage problems, sounds unique. Q. So ... Read More »

                          What I Learned from Leyton Ward at The Advocacy for Consumer Rights

                          Clapping Business People

                          Yesterday Leyton Ward and I finally did what we probably should have done two years ago, and sat down together over a great lunch and just talked. You see for what feels like the last two years Leyton and I had been in, well, basically a pissing contest. I do owe Leyton a big hat tip for flying to Raleigh ... Read More »

                            Mortgage Scams Take Minutes to Nab Consumer But Years to Unwind

                            Salesman

                            I received an update on a case where a receiver had been appointed to liquidate a scam mortgage relief group and provide restitution to consumers. This goes all the way back to a 2011 action by the California Attorney General against companies selling “Mass Joinder” mortgage elimination. The pitch seemed like an instantly addictive drug to suffering consumers. They were ... Read More »

                              Mortgage Relief Marketers Now a Half Million Dollars Lighter

                              ftc

                              A federal district court in Southern California has ordered a judgment of nearly $515,000 against Mark Nagy Atalla, a defendant in a 2013 Federal Trade Commission action targeting deceptive mortgage and debt relief pitches. The court imposed the judgment after finding Atalla had hid assets and misrepresented his financial condition to the agency. The judgment originally was suspended in Atalla’s ... Read More »

                                Get My FREE Get Out of Debt Guy Newsletter

                                It is the smart thing to do.

                                I promise to keep your email safe and secure.

                                Close

                                I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

                                You can unsubscribe at any time with just one click.

                                After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


                                • It will keep you posted on the latest scams.
                                • You will be alerted to the latest articles.
                                • You will wind up smarter than everyone else dealing with debt.