The Florida Foreclosure Fraud Weblog
Where Florida homeowners fight back against foreclosure rescue scams
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Foreclosure rescue scammers now have a new front to worry about: a coordinated operation by state and federal officials to shut down those who prey on foreclosure victims.
“The message is very simple: If you prey on vulnerable homeowners with fraudulent mortgage schemes, we’ll find you and we will punish you,” [U.S. Attorney General Eric] [...]
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The St. Pete Times reports on April Charney coming to town again:
At the start of class, April Charney makes one thing clear.
“This is very dense, complicated work,” she warns. “If you don’t get it, raise your hand and ask questions because the chances are others don’t get it either.”
[She's speaking to] lawyers and judges [...]
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“State of emergency” were the words chosen by Attorney General Bill McCollum this week, when he announced that he was asking law enforcement officials from state and local agencies to step up enforcement efforts.
Mortgage fraud, and in particular, foreclosure rescue fraud, were the number one complaint to McCollum’s office in 2008.
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“We are asking the Court to shut them down.”
Another loan-modification shop, this time in conjunction with a law firm, has apparently run afoul of the law. Florida’s Attorney General, Bill McCollum, has sued Florida Foreclosure Law Center LLC and Lincoln Lending Services and said at a press conference:
We are asking the court to shut [...]
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MSNBC reports on just how bad the foreclosure fraud problem has become:
Rich Hagar is a former home appraiser based in Seattle who now runs seminars for law enforcement officials and real estate professionals on detecting fraud. He describes the mortgage fraud problem as “monstrous,” noting that bank “Suspicious Activity Reports” for mortgage fraud have [...]
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Losing your home? Most homeowners facing a mortgage default have already come to grips with that consequence or at least they know it’s a very likely possibility. But may don’t realize that, long after losing their home, they might still end up paying against the debt for years, even decades.
The false promise of loss [...]
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Wondering why our banking system is on the verge of collapse? Baffled at just how a surge in mortgage defaults threatens to pancake our entire economy? Look no further than the power of cartoons:
Some genius, unknown to me, has created this slideshow, “The Subprime Primer,” and it tells you prety much all [...]
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A new report claims that Florida leads the nation in mortgage fraud.
In fact, 24 percent of fraudulent loans reported to the [Mortgage Asset Research Institute] during the first quarter originated on properties in Florida.
The most common kind of fraud was application fraud, including misstating income and false identification. I wonder how many of those [...]
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In the wake of last week’s Miami Herald investigation on this state’s willingness to let convicted fraudsters work as mortgage brokers, the state’s top mortgage lending regulator Don Saxon meets today with the Governor’s Cabinet who will consider, among other things, whether Saxon should keep his job.
State Chief Financial Officer Alex Sink last week called [...]
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On May 28, 2008, Florida Governor Charlie Crist signed into law House Bill 643, meant to protect homeowners in foreclosure from falling prey to foreclosure rescue scammers. The law addresses two of the most common type of foreclosure rescue scams in Florida: foreclosure consultant fraud, and foreclosure transaction fraud.
Foreclosure consultant fraud
The typical foreclosure [...]
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