8 Articles match "Company","Fraud","Properties"

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• Foreclosure Crisis Sparks Surge in Arson
  
  In Massachusetts , there’s a growing concern that foreclosure arson is becoming a problem around the state as more and more properties are abandoned. In Colorado , a homeowner was convicted for setting his home on fire to prevent the lender from repossessing the property. “We’ve We’ve seen a dramatic increase in this kind of fraud,” Dan Bales, the head of fraud investigations at Mercury Insurance, told the Los In desperate times people resort to desperate measures. Facing foreclosure, some homeowners are setting fire to their homes for the insurance money.
  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 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. 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 housingprices. "The
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Legislating Lower Foreclosure Rates?
  
  An Illinois law intended to help reduce foreclosures is drawing cries of discrimination from some of the people it is trying to protect, according to the Chicago Defender newspaper. “Nearly 60 days after Illinois House Bill 4050 went into effect to supposedly protect consumers from predatory lenders, a coalition of Black and Latino city residents say the new law is actually destroying property values in select minority communities.” The law is a pilot program that is being applied in 10 Chicago zip codes chosen for their high foreclosure rates, among other factors. Local mortgage
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Don't Dump Investors
  
  Miller    When it comes to bailing out giant banks, huge companies and massive stock brokerages theres no shortage of government interest and activity. However, none of these efforts are a silver bullet that will undo the excesses of the past years, nor are they designed to bail out real estate speculators or those who committed fraud during the mortgage process. Don’t Dump Investors By Peter G. After all, its in our national interest to protect investors — unless, of course, theyre folks who merely bought a house or two.
  www.realtytrac.com - Tuesday, February 3, 2009
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• Foreclosure "Megatrends"
  
  Fraud legislation. Return of the “Jingle Mail” Already, companies are positioning themselves to profit from the wreckage of the subprime folly. This week alone, two trophy properties were swept away in the foreclosure tsunami. Foreclosures are rising. Home prices are falling. Sales are down.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• New York Versus Freddie Mac: Round One
  
  They, in turn, sell securities to pension funds, insurance companies, investors and sovereign funds around the globe. Personal defenses include lack of consideration, set off and fraud.” In other words, even a mortgage created by fraud becomes legitimatized if the loan is bought in good faith. Had the new law been on the books last year, it would have affected very few of the NY mortgages we purchased.” Also, German says that under Freddie New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time
  www.realtytrac.com - Tuesday, February 3, 2009
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• The Government Goes After Loan Officers
  
  The SEC complaint reflects the McLean decision because it argues that mortgages are routinely bought from local originators, packaged on Wall Street and involve some use of the mail system. The Other Shoe You can bet that myriad banks and mortgage companies are asking attorneys to carefully review the SEC complaint. Because of stated income loans, home prices have gone up so dramatically that homes are now unobtainable for Americans wanting to use loan officers unwilling to commit fraud.” What About Borrowers? The Government Goes After Loan Officers By Peter G.
  www.realtytrac.com - Tuesday, February 3, 2009
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• July Foreclosure Report
  
  This shift in percentages shows that a higher proportion of properties that enter the forecosure process are ending up repossessed by lenders. Posted 08-14-2008 2:00 AM by darenb Filed under: Pre-Foreclosures , Foreclosure Auctions , Bank-Owned/REOs , Foreclosure Trends Comments
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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