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Tag Archives: mortgage

Embezzled, Diverted And Stolen Funds Used To Pay For Adult Entertainment

The guilty plea of vice present and co-operater of Coral Mortgage Bankers Corporation’s University City office, Matthew Kent, was announced earlier this month by the United States Attorney’s Office. According to court documents, between May 2007 and December 31, 2010, Kent, his partner in Coral Mortgage, David Rubin and Joshua Gould, formerly of Woodbury Financial, embezzled approximately $1,500,000 from a ... Read More »

    Jade Capital & Investments Indicted In Alleged $37 Million Fraud

    Jade Capital & Investments and its owners Joon Park (aka Joon Pak / Joon Paik) and his brother Loren Young Park (aka Loren Young Park / Yong Park) have been indicted on charges in connection to a scheme to fraudulently obtain business loans guaranteed by the Small Business Administration (SBA). Allegedly, this scheme resulted in losses over $37 million. Associate, ... Read More »

      Fraudulent Rescue / Equity Skim Scheme Costs Dozens Over $6.2 Million

      Between 2006 and 2008 real estate agent, Joanne Seeley, defrauded 34 homeowners and 14 mortgage companies in Pennsylvania out of more than $6.2 million in a fraudulent Foreclosure Rescue/Equity Skim scheme. Seeley was found guilty earlier this month on four counts of wire fraud and four counts of money laundering; each punishable by a maximum 20 years in prision and ... Read More »

        $78 Million Mortgage Fraud “Dream Home” Scheme Owner Convicted

        Andrew Hamilton Williams, Jr., was convicted last week in Maryland of fraud conspiracy, wire fraud and conspiracy to commit money laundering in connection to a massive mortgage fraud scheme. The scheme, entitled “Metro Dream Homes” promised to pay off homeowners’ mortgages on the homes of their dreams but instead left them high and dry. According to evidence presented at the ... Read More »

          My Wife Gave Away Our House With a Quitclaim Deed. – Patrick

          Ready to Collapse

          “Dear Steve, My wife just filed bankruptcy recently because a family friend, a mortgage broker, put the house she owned previiously in foreclosure. My wife had a subprime loan and tried before the 2 years were up to refinance and everyone who came along (Real Estate agents and others) gave her wrong advise. My wife signed a quick claim deed ... Read More »

            Mother Daughter Fraud Team Pleads Guilty After Five Days Of Trial

            Mid-trial a mother and daughter fraudster team, along with an accomplice from Las Vegas, pleaded guilty to participating in a mortgage fraud scheme that lead to more than $1.9 million in mortgage loan losses to lenders. Mother, Patricia Smith, pleaded guilty to Counts Four and Five of the Superseding Indictment, which charged her with wire fraud. Daughter, Jamilah Smith, pleaded ... Read More »

              First Ever Central Florida Law Firm To Be Forced To Resign From BBB

              KEL law firm, formally Kaufman, Englett & Lynd, has been forced to resign from the Better Business Bureau (BBB) of Central Florida. The resignation of this Orlando based law firm marks “the first area law firm to be ousted in the business-rating agency’s 27-year history.” Apparently the BBB has complained that over the past year KEL has failed to resolve ... Read More »

                Treasury Reports An 88 Percent Increase In Mortgage-Fraud Since 2010

                Banks are re-examining loans that took place during the housing boom and are now finding problems which has resulted in a large jump of reported mortgage-fraud. Reports are showing an 88 percent jump in the second quarter according to the Treasury Department. “Most of the mortgages suspected of fraud closed during the height of the real-estate bubble, the financial-crimes division ... Read More »

                  Homeowners In Financial Distress Lose Over $1.2 Million To Mortgage “Rescue” Fraud

                  To the tune of a MasterCard commercial: $4.7 million in fradulent mortgage loans… $944,224 lost by lenders…. $1.2 million lost in equity to homeowners…. Shameful. Mary Ann Dean and Charles Donaldson pleaded guilty to the charge of conspiracy to commit wire fraud in connection with a mortgage fraud scheme of Sunset Mortgage Company. Dean was a loan originator and operator ... Read More »

                    Deceitful Debt Relief And Mortgage Operation Shut Down

                    A United State district court has shut down two related operations who apparently failed to provide promised debt relief services and jeopardized clients’ privacy by at the Federal Trade Commission (FTC)’s request. Apparently one firm charged consumers a $1,495 up front fee for a mortgage relief assistance program that was never given as well as tossing personal information into unsecured ... Read More »

                      Nevada Bitch Slaps Bank of America Over Mortgage Mess

                      Ready to Collapse

                      by Paul Kiel, ProPublica The state of Nevada dramatically expanded its lawsuit against Bank of America today, turning the narrow case it filed late last year into a broadside that targets virtually all aspects of the bank’s mortgage operations. Bank of America has previously denied wrongdoing. The sweeping new suit could have repercussions far beyond Nevada’s borders. It further jeopardizes ... Read More »

                        I Discharged My Mortgage in Bankruptcy. Can I Really Sell The House Now? – Romy

                        “Dear Lewis, I filed chp 13 bankruptcy and had agree to let go of my house. No repayment. All debts were discharged. however, the bank is allowing me to stay in the house because i have continued to pay the mortgage/taxes/etc. However I’ve noticed that none of my payments are being report to the credit bureaus. My questions: do I ... Read More »

                          Unemployed and Struggling to Make Your Mortgage Payment? Check Hardest Hit Fund for Help.

                          Ready to Collapse

                          Yesterday over the dinner table we had a guest enjoying barbecue with us and she was talking about her work with the Hardest Hit Fund and all the mortgages in North Carolina she was screening to be paid by the Obama Hardest Hit Fund program. Up till now this benefit program had not hit my radar and I was intrigued. ... Read More »

                            I Was Building a New House But the Bank Won’t Give Us What it Appraised For So I Put the Rest on My Credit Cards. – John

                            “Dear Damon, Was building a new house.. Went to close on long term loan.. The bank would not give us what it was appraised for. I had to you all saving to not lose the house.. I put the rest on credit cards. I could not keep up with card and all other expenses. I went to debt services company. ... Read More »

                              I’m Currently in a Chapter 7 Bankruptcy and My Attorney Told Me Not to Make My Mortgage Payment. – Ed

                              “Dear Lewis, I am currently in chapter 7 Bankruptcy. My home is worth 315,000 and the court is getting an appraisal as ordered by the trustee. my home is worth about 380.000 dollars and I have had had contractors over giving me estimates on work that is needed. so far the roofer gave me an estimate for 20.000, to tent ... Read More »

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