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U.S. Attorney Charges Wells Fargo With Mortgage Fraud

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A loyal reader sent in a tip about a recent suit by the Manhattan U.S. Attorney against Wells Fargo Bank over mortgage fraud. Preet Bharara, the United States Attorney for the Southern District of New York, Helen Kanovsky, General Counsel of the U.S. Department of Housing and Urban Development (“HUD”), and David A. Montoya, Inspector General of HUD, announced today ... Read More »

    ProPublica Raises Concerns Over Bank of America’s Foreclosure Review Process

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    by Paul Kiel ProPublica Late last year, the country’s bank regulators launched a massive program to evaluate millions of foreclosure cases and compensate homeowners who fell victim to the banks’ flawed or illegal practices. Regulators dubbed it the “Independent Foreclosure Review” to emphasize that the banks would not be making key decisions about loans they had made or serviced. But ... Read More »

      Brolly Consulting Group Said to be New Incarnation of Stephen Marcus and A New Horizon

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      A reader just posted this comment on this story: Consolidated Credit Counseling PURCHASED ANH’s clients starting earlier this year. ANH was shopping around the portfolio with other agencies. Seems like a long time for “A New Horizon unexpectedly went out of business before all of their clients’ data was transferred to our organization”. A New Horizon closed the doors but ... Read More »

        JG Tax Group Allegedly Promises to Sue Unhappy Bipolar Woman Client Over Comment

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        In an odd turn of events, JG Tax Group has left an alleged client, who Jeffrey Galante of JG Tax Group labels as “a woman who is bipolar” facing a lawsuit over her comments posted on this site. About a month ago Qtmermaid143 submitted a comment on this post in response to a Jeff Galante that had said: JG Tax ... Read More »

          To All Former A New Horizon Credit Counseling Clients – HELP

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          All of a sudden, people that have debt management accounts with the nonprofit credit counseling group A New Horizons Credit Counseling Services, are freaking out. Where did the company go? Why aren’t they answering the phones? Where is my money? In one respect the situation is feeling much like another implosion of a nonprofit credit counseling group. Last year it ... Read More »

            Washington State Goes After 40 Companies in Mortgage Foreclosure Rescue Fraud

            Thanks to a reader we learn about the State of Washington taking an aggressive and bold step against companies selling mortgage foreclosure rescue assistance. This action includes a number of actions against attorneys which are apparently not licensed to practice in the state. “Since 2009, DFI has charged an ever-increasing number of unlicensed businesses with preying upon desperate homeowners who ... Read More »

              Consumers Tricked Into Buying Subpar Health Insurance

              The Federal Trade Commission charged a telemarketing operation with bilking millions of dollars from thousands of consumers by tricking them into buying what they believed was comprehensive health insurance, when in fact they had paid for something decidedly less. At the FTC’s request, a federal court stopped the defendants from marketing or selling any products or services related to medical ... Read More »

                American Mortgage Consultants and Home Guardian Solutions Charged With Allegedly Screwing Consumers by FTC

                The FTC alleged that since early 2011, the defendants claimed a phony affiliation with the U.S. government, pretended to be attorneys, and promised to substantially lower monthly mortgage payments in exchange for an up-front fee ranging from $1,495 to $4,495. Along with two companies he controls – American Mortgage Consulting Group, LLC and Home Guardian Management Solutions, LLC – defendant ... Read More »

                  NFCC Celebrates Utter Stupidity and Puts Older Dementia Patient in Debt Management Plan

                  A press release out today by the National Foundation for Credit Counseling is downright ignorant, stupid, harmful and cruel. It’s hard to believe they feel this is something to be proud of. For the record, I’m not calling the consumer stupid. In this release the NFCC brags about Francine and Jim Bostick who at ages 57 and 68 had more ... Read More »

                    New Life Financial Solutions, 1st United Consultants, and Expense Management America Exposed by Get Out of Debt Guy and Nailed by FTC

                    As far back as early 2011, the GetOutOfDebt.org site has been publishing information about and warning consumers about suspicious and concerning practices by a number of interrelated companies promising financial help and foreclosure relief. These schemes were not uncovered by the site alone. Readers and insiders also sent in critical information that led to the unraveling of the operations. From ... Read More »

                      Mortgage Modification and Foreclosure Rescue Companies Hammered by FTC

                      The Federal Trade Commission has announced some sweeping actions to protect homeowners that have been harmed by companies promising mortgage assistance but who allegedly only took money and ultimately didn’t deliver the help and outcomes promised. Prime Legal Plans/Reaching U Network. The FTC alleged that from at least mid-2010, the defendants behind this scheme marketed mortgage relief services in English ... Read More »

                        Homeowners Getting Massive Mortgage Reductions Without Fancy Tricks

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                        Over the past few years there have been so many companies and people preying on homeowners in financial trouble. Wether it is the sale of a land trust, mortgage modification, mass joinder legal action against a lender, or whatever. The schemes and tricks never seem to end. But thanks to a reader who let me know about a recent Boston ... Read More »

                          Credit Report Infographic Gives Picture of Credit Health

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                          A great inforgraphic from Direct Lending Solutions gives an interesting picture of credit health in America. If you look towards the bottom of the infographic you’ll see there is no clear connection between credit scores and bankruptcy filing rates. Also, above that is a graphic that shows the wave of credit account closures in the past three years. Read More »

                            Freedom Club USA Offers Debt Settlement Help and Universal Awareness

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                            I’ve seen some odd juxtapositions in the debt world but this one is right near the top of the odd list. A reader brought a recent advertisement to my attention for Freedom Club USA. The advertisement said: “The following are eligible for debt settlement: BANK LOANS: US and Canadian bank loan claims can be submitted on current, previous, paid, late, ... Read More »

                              American Households Sinking in Student Loan Debt Says Pew Research Center

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                              Student loans have become the sudden modern toxic loan. Subprime mortgages were the last. While government backed student loans can offer borrowers some advantages loan repayment programs, private student loans are grossly unforgiving and leaving more and more people stranded in a life of debt slavery without any solutions on how to break free. Today the Pew Research Center has ... Read More »

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