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Mortgage Related

Prince of Darkness Charged in Real Estate Scam

the Dark Prince

Photo: Annia316 A Nepalese con-man known as “the Dark Prince” managed to fraudulently obtain ownership of some luxury condos in San Francisco and then took out $2.2 million in an equity loan against the properties. Besides “the Dark Prince” Kaushal Niroula, 29, a former tennis instructor Winston Lum, was arrested along with Jay Shah and Melvin Emerich. Niroula and four ... Read More »

    ASB Capital Group and Allen Brodetsky Stand Up and Address a Readers Concerns

    Ready to Collapse

    I received the following email from Brad who wanted to share his story with you about his experience with ASB Capital Group in Tarzana, California. If you have a tip you’d like to share, email it to [email protected] In researching the company briefly online I found the following video which includes Allen Brodetsky in it. ASB Capital Group gives an ... Read More »

      Foreclosure Scam Ringleader Faces 49 Years Behind Bars

      Ready to Collapse

      The ringleader in a Carlsbad, California-based scam that tricked mostly Spanish-speaking homeowners into paying for a bogus service to stave off foreclosure was convicted of 160 felony counts by a San Diego jury Tuesday, according to the district attorney’s office. William Hutchings, 62, of San Diego faces 49 years in prison on the convictions that included conspiracy, grand theft, rent ... Read More »

        Loan Modification Company Operating Out of Mailbox at UPS Store is a Scam

        Ready to Collapse

        Federal prosecutors have indicted two San Diego men featured in an ABC News investigation for their role in allegedly defrauding desperate homeowners trying to modify their mortgages. Investigation uncovers businesses posing as something they’re not. Glenn Rosofsky and Michael Trap, who ran a business called Nations Housing Modification Center, are charged with duping homeowners who were falling behind on their ... Read More »

          FTC Tries to Protect Consumers From Getting Screwed With a Reverse Mortgage

          Ready to Collapse

          Federal Trade Commission staff has filed comments with the Federal Financial Institutions Examination Council (FFIEC) supporting a measure designed to protect consumers from deceptive claims and to help them make better-informed decisions about whether to obtain a reverse mortgage. Reverse mortgages, typically available only to borrowers age 62 or older, allow them to “spend down” the equity in their home ... Read More »

            Consumers More Likely to Pay Credit Cards Than Mortgage

            Ready to Collapse

            From the good folks over at US News & World Report is this interesting article, “Forget the Mortgage, I’m Paying My Credit Card Bill” by Luke Mullins. Amid high unemployment and sliding home prices, a growing number of struggling consumers are doing what was once considered unthinkable: paying their credit card bills instead of their mortgages. A recent study developed ... Read More »

              Before You Walk Away From Your Mortgage, Read This

              Ready to Collapse

              Last week I received an email from a desperate couple in Illinois. Here’s the edited version of their note: "My wife and I have been struggling, morally, with what to do. We have two interest-only, adjustable-rate mortgages with two different lenders coming due in May of 2011. I currently can handle paying all my bills–but just barely, with nothing left ... Read More »

                Walking Away From Your Home Might Be The Best Thing to Do for You

                Ready to Collapse

                It’s interesting that the banking community doesn’t want consumers to walk away from their homes when the house has lost so much value that the home is now worth less than the mortgage. But this would be the very same banking community that made these unrealistic and dubious loans to begin with during the high flying mortgage days. More consumers ... Read More »

                  United Law Group Brags About Doing It’s Job, Huh?

                  I have no clue what could be running though the minds of the people over at the United Law Group lately. The United Law Group offers loan modification services. Out pops a new press release from United Law Group all bragging and such about how they helped this foot doctor get her mortgage modified for the parents. The headline of ... Read More »

                    Forensic Loan Audits and Foreclosure Rescue Companies are a Scam Says California Attorney General

                    Ready to Collapse

                    Attorney General Edmund G. Brown Jr. today joined the California Department of Real Estate (DRE) and the State Bar of California in warning Californians to avoid forensic loan audits, the loan-modification industry’s latest “phony foreclosure-relief service,” in which homeowners pay up-front fees for a forensic review of their lender’s practices, but are provided no actual foreclosure relief. “Forensic loan audits ... Read More »

                      FTC to Ban Upfront Fees for Foreclosure Rescue or Mortgage Modification

                      Ready to Collapse

                      The Federal Trade Commission moved to protect distressed homeowners from the promoters of bogus foreclosure rescue and mortgage modification services by proposing a new rule that would forbid companies to charge up-front for these services. Instead, companies could only collect payment after providing services. “Homeowners facing foreclosure or struggling to make mortgage payments shouldn’t have to contend with fraudulent ‘companies’ ... Read More »

                        Brian Austin Green – Bank Wants His Home Back

                        Brian Austin Green

                        Apparently Brian Austen Green is playing a little alleged Russian Roulette with his mortgage company. He says he’s playing a calculated move and going for a short sale but his mortgage company SunTrust Mortgage just filed papers saying Green, of 90210 fame, owes $71,000 in back payments on his $2,000,000 mortgage. According to the docs, SunTrust has begun the foreclosure ... Read More »

                          Mortgage Rescue Scam Results in Guilty Plea From Lawyer

                          Ready to Collapse

                          In a look into the future when more lawyers are going to find themselves in hot water from current foreclosure avoidance scams, yet another lawyer has been found guilty of running a foreclosure rescue or mortgage rescue scam. This time the show unfolded in Pennsylvania. The government alleged that Doherty and four others targeted homeowners facing foreclosure, promised to help ... Read More »

                            Forensic Mortgage Analysis Scam – Beware

                            Ready to Collapse

                            Consumers are urged to be on the lookout for companies promising forensic mortgage analysis services. It’s an offer many struggling homeowners can find hard to resist. It begins with a flyer or phone call from a company offering to review your financial documents in order to find a dramatically lower mortgage rate. But the problem is, it often is an ... Read More »

                              Master Builders for Christ and Vision Builders Christian Center Steal Homes of People Facing Foreclosure

                              Pastor+Mortgage+Fraud

                              I’m not sure if it’s just me or that there seem to be more financial frauds occurring in the name of God. Using the words of God and a promised opportunity of hope in desperation, three Delaware residents stole the foreclosed houses of desperate homeowners. – Source Delaware Attorney General Beau Biden announced that Jamaar Manlove, Larry Manlove, Rhonda Manlove, ... Read More »

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