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Foreclosure Scam Ringleader Faces 49 Years Behind Bars

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 …

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

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 …

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FTC to Ban Upfront Fees for Foreclosure Rescue or Mortgage Modification

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 …

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Mortgage Rescue Scam Results in Guilty Plea From Lawyer

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 …

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Core Pac Solutions, the Foreclosure Rescue Company, to Close Doors Momentarily

So there’s this company, Core Pac Solutions that promised to be a big help if you were facing mortgage trouble. Let us share with you how we can help. For most Americans your most important purchase and most valuable investment is your home. When experiencing a financial hardship and the threat of losing your home, …

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Maryland AG Stops Foreclosure Rescue Scam to Strip Equity

Attorney General Douglas F. Gansler announced that his Consumer Protection Division has won a judgment in the Circuit Court for Baltimore City of nearly $1 million against Rodney Spellen, Mid Atlantic Consulting, Inc., Jemel Lyles, Absoloot Ventures Inc., Brian Boyd, 1st Choice Property Management Firm, Inc., Sahar Ali, Alan Muniu, Phillip George, Certified Title & …

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North Carolina Stops Foreclosure Scam by US Consumer Solutions and The Lamb Group

A Kannapolis, North Carolina foreclosure rescue operation is barred from collecting any money from consumers for foreclosure assistance or loan modifications, Attorney General Roy Cooper announced Friday. [As you read this remember that US Consumer Solutions and The Lamb Group are tied together. Look for the bolded section below.] “Scammers entice struggling homeowners with false …

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Peoples First Financial and FHA All Day in the News Again.

Several loan modification companies made an appearance in a recent Atlanta Journal Constitution article, ‘Companies Promise Foreclosure Help, Don’t Deliver‘ about the dangers of loan modification or foreclosure rescue companies. Companies are facing both civil and criminal charges in different states for their actions which are generally considered to rip-off consumers by promising services these …

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I’m Holding On to Our House By Draining the College Fund. – Dave

“Dear Steve, Much of my compensation is commission based and my clients are in the retail industry. My salary has reduced 25% so I tried to refinance my home, but it is only 2 years old and the value has declined 30% in the past year. My secondary mortgage lender was willing to offer a …

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Foreclosure Rescue and Mortgage Modification Help Just Bad Actors in New Clothes

The New York Times has a great article out about the transformation of subprime mortgage brokers into new entities that promise to sell help for people to get mortgage help. Late last year, he and his team — ensconced in the same office where they used to broker mortgages — began working for a loan …

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