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Mortgage Related

Attorney Withdraws From Rampart MMW – Omni Home Solutions Bankruptcy to Shield Homeowners

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A tipster (send in your tips here) alerted me that last week, Monica L. Montgomery, Esq, withdrew as the attorney representing Rampart MMW in their recent bankruptcy filing they sold access to consumers in to hopefully stop home foreclosure. Montgomery filed the chapter 11 bankruptcy on June 20th and I previously covered that filing and a former client spoke out ... Read More »

    Good News on Mortgage Delinquencies. Down Again.

    Mortgage delinquency infographic

    Recent data out about mortgage delinquencies shows an encouraging sign, defaults are down again. The national mortgage delinquency rate (the rate of borrowers 60 or more days past due) dropped for the second consecutive quarter, declining to 5.49% in Q2 2012. The mortgage delinquency rate has now dropped nearly 9% in the first six months of this year. This information ... Read More »

      The Effect of Bankruptcy on Your Mortgage.

      Ready to Collapse

      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 »

        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 Mass Tort Solicitation Mailer

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          A reader has sent in a mailer by Brookstone Law titled “Notice Regarding Mass Tort Litigation Lawsuits.” The mailer claims that potential claims made against lenders by consumers participating are: Fraudulent Mortgage Note Origination Fraudulent Concealment and Misrepresentation at Time of Origination Patriot Act Violations/Unlawful Funding of Note Improper Securitization of Loan/Note Improper Assignment of Mortgage/Deed of Trust/MERS Breach of ... Read More »

            Precision Law Center Disappearance Solved. FTC Took Action.

            Thanks to a tipster (send in your tips here) the mystery about what happened to Precision Law Center is not solved. According to the Precision Law Receivership site: On March 5, 2012, the Federal Trade Commission filed an action against Defendants Sameer Lakhany, The Credit Chop, LLC, Fidelity Legal Services LLC, Titanium Realty Inc., Precision Law Center, Inc., and Precision ... Read More »

              California Attorneys Arrested and Booked for Taking Money From Consumer for Mortgage Help

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              The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and California Attorney General Kamala D. Harris today announced the arrests of the owners and managing attorney of a law firm that took thousands of dollars in up-front loan modification fees for services that were never performed for homeowners, many of whom ended up losing their ... Read More »

                Scam Alert – Beware of People Promising Help or Money From Mortgage Company Settlements

                It appears consumers are receiving calls from telemarketers claiming they are eligible to receive part of the $25 billion settlement a number of states reached with mortgage servicers and foreclosure servicers. Callers are requesting the bank account information to direct deposit funds into the consumers account from the government settlement fund. It is a scam. Funds will not be deposited ... Read More »

                  Will Proposed Government Programs Really Help Homeowners?

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                  by Cora Currier ProPublica The Obama administration has recently unveiled a string of proposals to help struggling homeowners and get the housing market back on its feet2014 part of the administration’s “We Can’t Wait” election year to-do list. Of course, the White House has made big promises before about helping homeowners, only to see them disappoint time and again. Here ... Read More »

                    Senators Angry About Freddie Mac Betting Against Homeowners

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                    by Jesse Eisinger ProPublica Sen. Robert Menendez, D-N.J., had sharp words for Freddie Mac’s investment practices and conflicts of interest at a Senate Banking Committee hearing Thursday. The senator’s concerns came in the wake of a ProPublica and NPR report that Freddie, the giant taxpayer-owned mortgage company, had made concentrated investments in complex mortgage securities that benefited from the inability ... Read More »

                      Mortgage Settlement With Banks Leaves Consumers Still Looking In the Abandoned Windows

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                      by Cora Currier ProPublica The Obama administration is billing today’s $25 billion agreement between most states and five banks that engaged in flawed or deceptive practices as a big win for struggling homeowners. Most of the money in the settlement isn’t a penalty, or a fine levied on the banks. Instead, the biggest slice of the settlement will be money ... Read More »

                        Federal Housing Finance Agency Just STICKING it to Homeowners

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                        by Cora Currier ProPublica, Last week, ProPublica and NPR raised questions about a risky investment strategy at Freddie Mac that would pay off if homeowners stayed trapped in expensive mortgages. It’s just the latest example of how government-owned Freddie Mac and Fannie Mae have frustrated many by not putting homeowners first. Fannie and Freddie are required to help homeowners while ... Read More »

                          Pennsylvania Reader Sends in New Form H-118 From New York

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                          The Form H-118 is very similar to the Form 1012-R mailings that have been sent to consumer all across the country. They are deceptive in that they attempt to portray themselves as official mailers or government forms. Mailers similar to this have been slammed in mass joinder legal actions in California and the subject of numerous warnings. A reader just ... Read More »

                            Kramer, Stein Mass Joinder / Mass Tort Updates for Those Involved

                            The Receiver in the Mass Joinder legal proceeding in California against lawyers that had marketed Mass Joinder suits against mortgage lenders has released an update. December 1, 2011 The State Bar of California has taken possession of the law practices of Kramer and Kaslow, Mitchell J. Stein, Christopher Van Son, Paul Peterson (Mesa Law Group), and Anthony Kassas (Kassas Law ... Read More »

                              Reporter Helps to Bring Down Steven J. Baum Foreclosure Mill

                              Steven Baum Party

                              Well it’s over. It appears the law firm of Steven J. Baum, P.C. in New York is laying off 89 employees and closing up shop. I doubt you’d recognize the name of the lawyer or the firm but I bet you’ve recognize some of the pictures that were recently published from the office Halloween party in 2010. This pictures sent ... Read More »

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