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Posts Tagged ‘Fraud’

Scam Alert: Mortgage Foreclosure Scams on the Rise

April 24, 2012 Leave a comment

Homeowners beware: the number of reported mortgage foreclosure scams has increased 60 percent so far in 2012, according to the Homeownership Preservation Foundation.

The Huffington Post reports that scammers are exploiting the recent increase in government programs such as the recent national mortgage settlement.

New York Attorney General Eric Schneiderman has warned that scammers claim to be government officials involved in the settlement and try to obtain personal financial information from homeowners seeking assistance.

As foreclosures are expected to rise again in the coming months, homeowners are need to be cautious when seeking debt relief and are reminded to do their research when hiring assistance with the loan modification process.

California and Nevada Form foreclosure fraud alliance

December 13, 2011 1 comment

Two of the hardest hit states in the nation’s foreclosure and mortgage crises have formalized a joint investigation alliance to help homeowners victimized by fraud.

According to CNN.com, California Attorney General Kamala D. Harris and Nevada Attorney General Catherine Cortez Masto said they are willing to partner with other states and provide support as California and Nevada investigate fraud in foreclosures and mortgages.

As part of the alliance, the two states will share information, subpoenas and witnesses, and will also seek reforms to protect homeowners, the officials said. Harris described the mortgage crisis as nationwide “man-made disaster” that has inflicted its worst toll on California and Nevada.

Ongoing investigations in California and Nevada are looking at a range of alleged misconduct by mortgage institutions and others. So far, the alliance has produced “millions of pages of documents” and the development of mutual targets for investigators, officials said.