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Mortgage Related

Are No-Cost Mortgages Always the Best Deal?

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Are No-Cost Mortgages Always the Best Deal? (via Credit.com) A program made popular in the height of the subprime lending environment was the no-cost mortgage. No-cost mortgages have gotten quite a bit of exposure lately, as consumers seek to better understand loan terms, interest rates and how to qualify for mortgages in an ever-tightening credit market. And…   Read More »

    Foreclosure Rescue Scammers Plead Guilty to Fraud

    White Collar Criminal

    The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) today announced that Mark S. Farhood, 49, formerly of San Diego, Calif., and Jason S. Sant, 37, of Lecanto, Fla., pleaded guilty on Friday to conspiracy charges in connection with their operation of a nationwide online foreclosure rescue scam that went by various names, including Home ... Read More »

      Mortgage Relief Checks On the Way and Being Cashed

      money

      Nearly 50,000 checks totaling nearly $50 million relating to the Independent Foreclosure Review Payments have been cashed or deposited as of close of business on Monday (April 15), according to officials at the Office of the Comptroller of the Currency. Borrowers with questions regarding payments should contact the Paying Agent—Rust Consulting, Inc. at 1-888-952-9105, Monday through Friday, 8 a.m. – ... Read More »

        Fidelity Land Trust Sued to Give Title Back to Homeowner

        a_kick_in_the_nuts

        Kimberly Miller with the Palm Beach Post is reporting at least one homeowner is suing Fidelity Land Trust. “Kenneth and Joycelin Morgan filed a lawsuit last week against Fidelity Land Trust Co. and affiliated firms, saying they thought they were signing up for help reducing their mortgage amount but instead were deceived into a contract that cost them $5,000 upfront, ... Read More »

          How Not to Get Scammed by a Mortgage Loan Modification Company

          scammer

          It’s easy to make you a victim and rip you off with a loan modification. People are willing to believe the wild claims companies make about being able to cut your loan balance or slice your interest rate. It sounds so good when the salespeople are pitching you. If you received a postcard or letter in the mail claiming you ... Read More »

            New Documents Show Florida Land Trust, Whitestone Capital Trust, and Private Capital Trust Activities Continue

            Mature woman confused

            A tipster (send in your tips here) sent in a number of documents which show companies in Florida are continuing to market land trusts. This is particularly interesting since Fidelity Land Trust was sued and given a Temporary Restraining Order in September, 2012 to cease all business. I’m going to post the documents I received below and we shall see ... Read More »

              Mass Joinder & Forensic Loan Audit Marketers Surrender Assets to FTC

              ftc

              A number of different companies we’ve written about before have finally met the end of the line in their efforts to sell consumers mass joinder lawsuits against mortgage companies and expensive forensic loan audits. The defendants behind an alleged mortgage relief scam have agreed to settle FTC charges that they deceived cash-strapped consumers into believing they could hold onto their ... Read More »

                Real Estate Law Center & Chad Pratt Still Sending Mass Joinder Offers

                Screen Shot 2013-02-14 at 4.20.50 PM

                A tipster (send in your tips here) sent me a copy of a mass joinder mailer they just recently received. The mailer looks familiar to the Form 1012-R and Form H-118 advertising mailers that were sent over the past few years in an effort to sell consumers mortgage relief services. As you can see below, the form looks official and ... Read More »

                  California AG Arrests Three, Including Public Notary, in Mortgage Elimination Scam

                  California AG Seal

                  Attorney General Kamala D. Harris today announced the arrest of three suspects who have been charged in a mortgage fraud scheme targeting struggling Northern California homeowners. Six websites allegedly used by the suspects to advertise their scheme have been intercepted and redirected to a resource page on the California Attorney General’s website. The felony complaint alleges that Ronald Vernon Cupp, ... Read More »

                    CFPB Rolls Our New Mortgage Rules to Help Consumers

                    home foreclosure legal document with house key

                    The Consumer Financial Protection Bureau has just announced new rules that are aimed at mortgage servicing companies from lessons learned during this most recent mortgage meltdown crisis we are living through. While smaller banks and credit unions are exempt from these rules, the big loan servicing companies, those that service 5,000 or more loans, will have to fall in line. ... Read More »

                      Smart Credit Group – Dumbest Promises I’ve Seen Recently

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                      As part of my efforts to protect consumers, I poke around and look at advertisements and sales claims by debt relief companies. The help wanted ads are a great way to see who is motivated first by money rathe than offering exceptional consumer advice. Take for example the two advertisements today for a group called Smart Credit Group. The ads ... Read More »

                        Fidelity Land Trust, Ed Cherry, Larry Diodato, and Paul Gallenbeck Back in the News

                        Big Scam Dog

                        Kimberly Miller of the Palm Beach Post has written yet another article about the events surrounding the attempted fancy pants cancellation of mortgages in Florida by several known or even notorious, debt relief players. The summary of recent court opinions about the efforts of the individuals and/or enterprise is certainly not favorable. Conspiracy theorists will say this is because of ... Read More »

                          Billions Now Available for Foreclosure Victims. Banks to Notify Consumers.

                          home foreclosure legal document with house key

                          Ten mortgage servicing companies subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing have reached an agreement in principle with the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board to pay more than $8.5 billion in cash payments and other assistance to help borrowers. The sum includes $3.3 billion in ... Read More »

                            Congress Extends Tax Relief for Forgiven Mortgage Debt Into 2013

                            Real Estate Concept

                            A reader sent in this great news for those that might be short selling their homes or have a tax liability due to forgiven mortgage debt. The previous tax forgiveness program was due to expire at the end of 2012. Apparently Congress continued it for one more year. “Of most interest to real estate, the bill would extend mortgage cancellation ... 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 »

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