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5 Articles match "California","Fraud","Sales"
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The Latest from RealtyTrac
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The Government Goes After Loan Officers
The Securities and Exchange Commission alleges that five California brokers sold “unsuitable” securities to customers, primarily variable universal life policies (VUL). “Most Most investors who bought these securities,” says the SEC, “lacked the cash or income to do so, but were urged by their brokers to raise the money to pay for the purchases and the monthly payments required for these products by refinancing their fixed-rate mortgages into subprime adjustable-rate negative amortization mortgages.” According to the SECs complaint “each defendant was a mortgage broker as well as a
www.realtytrac.com
- Tuesday, February 3, 2009
Avoiding, Stopping Foreclosures Information, Helpful Resources, Stop Home Foreclosure - RealtyTrac
Practices that many industry experts liken to nothing short of mortgage fraud. Heres some of the latest news articles written about attempts to either avoid or stop foreclosure in its tracks: Helpful Resources: (links will open in a separate window) • Real Estate Agents Spread the Word on Avoiding Foreclosures • Consumer Group Proposes Moratorium on Foreclosures • Treasurer creates task force to combat county foreclosures • State officials, lenders meet on foreclosures
www.realtytrac.com
- Tuesday, February 3, 2009
Separating the wheat from the chaff: legitimate foreclosure investors vs. scammers
An article in the Los Angeles Times onTuesday documented the sad story of a defaulted homeowner who was thevictim of alleged foreclosure fraud. The article goes on tomake the case that foreclosure fraud crime is on the rise. It is a crime thatconsumer advocates fear could become increasingly common — especiallyin Southern California, where many homeowners have stretched themselvesto their financial limits to afford the regions record high The homeowner said he was trickedinto signing over the title of his home by a scam artist who didnothing to stop the foreclosure and then took out another loan againstthe property with no intention of paying it off.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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FBI: Mortgage Fraud Begets Foreclosure
The FBI recently came out with its 2006 Mortgage Fraud Report , which somewhat anticlimactically concludes that there is “a strong correlation between mortgage fraud and loans which result in default or foreclosure.” The correlation is apparent in the report’s list of the top states for mortgage fraud: California, Florida, Georgia, Illinois, Indiana, Michigan, New York, Ohio, Texas, and Utah. Six of those states also appeared in RealtyTrac’s list of states with the highest foreclosure rates in 2006. The FBI also lists Arizona, Colorado, Maryland, Minnesota, Missouri,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Separating the wheat from the chaff: legitimate foreclosure investors vs. scammers
An article in the Los Angeles Times onTuesday documented the sad story of a defaulted homeowner who was thevictim of alleged foreclosure fraud. The article goes on tomake the case that foreclosure fraud crime is on the rise. It is a crime thatconsumer advocates fear could become increasingly common — especiallyin Southern California, where many homeowners have stretched themselvesto their financial limits to afford the regions record high The homeowner said he was trickedinto signing over the title of his home by a scam artist who didnothing to stop the foreclosure and then took out another loan againstthe property with no intention of paying it off.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Avoiding, Stopping Foreclosures Information, Helpful Resources, Stop Home Foreclosure - RealtyTrac
Practices that many industry experts liken to nothing short of mortgage fraud. Heres some of the latest news articles written about attempts to either avoid or stop foreclosure in its tracks: Helpful Resources: (links will open in a separate window) • Real Estate Agents Spread the Word on Avoiding Foreclosures • Consumer Group Proposes Moratorium on Foreclosures • Treasurer creates task force to combat county foreclosures • State officials, lenders meet on foreclosures
www.realtytrac.com
- Tuesday, February 3, 2009
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Foreclosure "Megatrends"
Sales are down. Fraud legislation. Lawyers in California — for a fee, of course — will show you how to damage your credit history for a decade or more and “walk away” from your debt. Foreclosures are rising. Home prices are falling. What does all this mean?
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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The Government Goes After Loan Officers
The Securities and Exchange Commission alleges that five California brokers sold “unsuitable” securities to customers, primarily variable universal life policies (VUL). “Most Most investors who bought these securities,” says the SEC, “lacked the cash or income to do so, but were urged by their brokers to raise the money to pay for the purchases and the monthly payments required for these products by refinancing their fixed-rate mortgages into subprime adjustable-rate negative amortization mortgages.” According to the SECs complaint “each defendant was a mortgage broker as well as a
www.realtytrac.com
- Tuesday, February 3, 2009
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