Home > Debt Articles > Real Estate Related (page 2)

Real Estate Related

Tax Will be Due on Forgiven Mortgage Debt Unless Congress Acts

Ready to Collapse

Thanks to a reader and tipster (send in your tips here) I was alerted to the following story about the soon to be ending tax forgiveness regulation for homeowners getting mortgage debt forgiveness. “In 2007, Congress enacted the Mortgage Forgiveness Debt Relief Act, which prevents homeowners from paying taxes when their mortgage debt is forgiven due to a decline in ... Read More »

Making All Homes Affordable and La Paz Source Sued by Arizona Attorney General Over Loan Modifications

Ready to Collapse

Arizona Attorney General Tom Horne announced two lawsuits Wednesday against Phoenix- and Tucson-based mortgage modification companies that allegedly misrepresented their services. Named in the lawsuits were the Phoenix-based Making All Homes Affordable LLC and owner Albert Figueroa and the Tucson-based La Paz Source LLC, owners Francisco Ramos and Maria Beltran, their new operation, La Placita Multi Services LLC, and Arturo ... Read More »

Summit Legal Group Loan Modification Attorney – Disbarred

Ready to Collapse

William O’Toole, a Florida attorney that ran Summit Legal Group that claimed to be able to save homes from foreclosure and get loan modifications, has been disbarred for at least five years. The Florida Bar stated, “William Timothy O’Toole, 120 E. Oakland Park Blvd., Suite 105, Fort Lauderdale, disbarred effective immediately, following a May 22 court order. (Admitted to practice: ... Read More »

Beware of Omni Home Solutions and Rampart MMW Says Former Client

Darrell Neilander, a former client of the foreclosure/tust company/mass joinder companies Omni Home Solutions and Rampart MMW sent in the following contributed information in an effort to help inform others of his experience with two companies that are claiming to help save his property from foreclosure and get his home free and clear. I’ve written about these companies, Omni Home ... Read More »

Chapter 13 Bankruptcy Trustee Sued by Bank of America to Stop Asking for Notes

Ready to Collapse

It appears Bank of America is none too happy with Henry “Hank” Hildebrand, a Tennessee chapter 13 bankruptcy trustee. Hank has been requiring Bank of America to produce the underling mortgage documents to prove they actually own the mortgages that are included in bankruptcy. When Bank of America can’t locate the paperwork, the trustee has been diverting the monthly payments ... Read More »

California Mortgage Modification Operators and Sales Rep Sentenced

Ready to Collapse

Three individuals charged with conspiracy to commit wire fraud and mail fraud for their roles in operating a mortgage loan modification scam were sentenced Friday in federal court in San Diego. United States District Court Judge Anthony J. Battaglia sentenced Ziad Nabil Mohammed Al Saffar to serve 21 months in federal prison and Sara Beth Bushore Rosengrant to serve 12 ... Read More »

Reducing Foreclosure Risks for Those Facing a Property Tax Lien

Ready to Collapse

The home mortgage crisis has received a lot of attention over the last few years. This has led to various efforts to preserve homeownership, including the creation of foreclosure mitigation programs through federal legislation as well as other local and state efforts. However, another threat to homeownership that should also be given careful consideration today is foreclosure as a result ... Read More »

Big Foreclosure Compensation, But Only for the Right Wrongs

Ready to Collapse

by Paul Kiel ProPublica Can you put a price on the damage caused by a wrongful foreclosure? Banking regulators have. And it’s $125,000. Or $60,000. Or $15,000. Or2026 it’s unclear. Last November, banking regulators launched a process to force the big banks to compensate homeowners victimized by their foreclosure abuses. Many crucial details remained unclear, including how much victims might ... Read More »

California Passes Protections for Homeowners Facing Foreclosure

Ready to Collapse

According to the L.A. Times, California legislators have passed new laws that now await Governor Brown’s signature. These laws would provide the toughest protections for consumers facing problems with the mortgage. “The legislation would make California the first state to prohibit lenders from “dual tracking,” the practice of negotiating with clients to modify a mortgage so that payments become more ... Read More »

Mortgage Modification Company Owner Shmuckler Sentenced to Prison

Ready to Collapse

Howard R. Shmuckler, 68, of Virginia Beach, Va., was sentenced yesterday to 90 months in prison, followed by three years of supervised release, for running a fraudulent mortgagerescue business that received substantial fees but actually modified clients’ mortgages in only a few cases. The court ordered that this sentence be served consecutive to a 75 month federal sentence Shmuckler received ... Read More »

Good News for California Mortgage Holders

Ready to Collapse

California attorney Kristen Crone from UFAN Legal Group wanted me to share this recent case result with readers who might be California mortgage holders. She labels it as good news for some. “New case just decided in California that essentially says, “When original lender holding both first and second deeds of trust securing signle residential mortgage forecloses nonjudicially under the ... Read More »

Reader Makes Claims and Raises Issues About Fieldstone Law and National Advocacy Law Center

Ready to Collapse

I received the following tip from a reader below about Fieldstone Law and National Advocacy Law Center. If you know anything that might be helpful, please post it in the comments section below. Get Out of Debt Guy – Twitter, G+, Facebook Need More Help? I have verified that [National Advocacy Law Center] was fieldstone law and law offices of ... Read More »

Forensic Mortgage Loan Audit Scam Kicked in Nuts by FTC

Ready to Collapse

At the request of the Federal Trade Commission, a U.S. district court has halted an operation that allegedly preyed on financially vulnerable homeowners, convincing them to pay $1,995 or more by holding out bogus promises that they could help them avoid foreclosure and renegotiate their mortgages. The complaint was filed against Consumer Advocates Group, Paramount Asset Management Corp, National Financial ... 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 »

Foreclosure Victim Guide on How to Get Compensation You Are Entitled To

Ready to Collapse

by Paul Kiel ProPublica, If you’re a victim of banking abuses during the foreclosure crisis, the government says it’ll make sure you receive compensation from your bank. It’s a simple idea. But for victims, determining who’s eligible, how to apply, and when you might get a check in the mail isn’t simple at all. So we built a list of ... Read More »

Get My FREE Get Out of Debt Guy Newsletter

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.

I promise to keep your email safe and secure.