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WASHINGTON – Four Florida men were arrested this past week on charges that they defrauded homeowners in Massachusetts and elsewhere in connection with a home loan modification scam, announced Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division, U.S. Attorney Carmen M. Ortiz for the District of Massachusetts and Christy Romero, Acting Continue reading… Four Florida Men Charged in Boston with Defrauding Homeowners in Home Loan Modification Scam Yesterday, four fair housing organizations released their findings of a year-long undercover investigation of 80 loan modification companies, which reveal an industry rife with corrupt practices. The National Fair Housing Alliance, the Connecticut Fair Housing Center, Housing Opportunities Made Equal of Virginia, Inc., and the Miami Valley Fair Housing Center Continue reading… Undercover Investigation Finds Fraud Common Among Mortgage Loan Modification Companies Dennis Norman The U.S. Department of the Treasury and the Department of Housing and Urban Development today released their “October 2010 Scorecard” on the “Obama Administration’s Efforts to Stabilize the Housing Market”. The scorecard points out the success of “The President’s housing market recovery efforts” but does point out that “data in the scorecard also show Continue reading… Scorecard on Obama’s Housing Recovery Plans Dennis Norman Last week I did a post about the Obama Administrations’ Home Affordable Modification Program (HAMP) and showed how it really has not been effective in helping keep families in their homes and avoid foreclosure as was the intention by the administration. When my kids tell me they don’t like the way I want them Continue reading… What Should Be Done To Help Underwater Borrowers? To alleviate some suffering by homeowners, the Obama Administration introduced the “Making Homes Affordable” plan last March. Unfortunately, the plan has not yet had the intended effect. Article by the Grand Law Firm Economists debate whether or not the country is actually currently in a recession. Some say that there are positive signs that we have reached Continue reading… Mortgage Programs Fall Short in Keeping Homeowners out of Foreclosure Dennis Norman By: Dennis Norman Here is some information agents should share with clients that may be struggling to keep up with their payments on their mortgage, or struggling to get through the paperwork and other requirements for a loan modification under the Affordable Refinance Program. Freddie Mac has launched an effort to help borrowers delinquent borrowers obtain Continue reading… Freddie Mac offers loan modification “room service” to help borrowers Dennis Norman A surge in litigation tied to real estate appraisals, loan modifications and foreclosures contributed to a 54 percent increase in mortgage-related lawsuits, according to the second quarter Mortgage Litigation Report from MortgageDaily.com. During the second quarter, 125 cases were tracked, jumping from an already active 81 first quarter cases. The second quarter of 2008 had Continue reading… Appraisal, Loan Modification and Foreclosure Lawsuits Soar Dennis Norman By: Dennis Norman Today as an unfortunate result of the downturn in the real estate market and economy, agents are hearing from past clients that are struggling to keep up with their mortgages and looking for help. Continue reading… Help for your clients needing loan modifications |
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