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Your search for “foreclosure scams” produced “22” results
(B Rosen)
(FTC)
—>Yesterday, as part of "Operation Loan Lies," the FTC and 19 states filed 189 lawsuits, cease-and-desist orders, and other legal actions to shut down loan modification consultants who prey on desperate homeowners. The scammers offer to help solve foreclosure problems for a hefty fee; instead, they fail to modify the loan at all while collecting payments for their services, sometimes even encouraging homeowners to stop communicating with their lenders completely or to send payments to the consultants instead of the bank. More »
—>Various U.S. officials, including Treasury Secretary Tim Geithner, announced a multi-agency crackdown on foreclosure relief fraud today, vowing to "redouble efforts to crack down on schemes that target distressed homeowners and also to share more information and resources across agencies and with state officials," says the WSJ. More »
—>In its recent annual report to the Mortgage Banker's Association, the Mortgage Asset Research Institute described three emerging mortgage fraud schemes that are either new or increasing in popularity. More »
—>With so many people facing foreclosure these days, it's a good idea to educate yourself about the types of scams that take advantage of folks who are having trouble paying their bills. Even if you are doing ok, perhaps you can help someone else by recognizing a scam. More »
—>Here's an odd story from the Bay Area. A man who says his house was "sold without his knowledge" to a bank after he signed a "deal" to prevent foreclosure has trashed the property — spray painting a message to the new owner. More »
—>Almost immediately after Laurie Lucas picked up the phone, the many from "Legal Affidavit Office" began reading off a litany of charges he said "US National Bank" had filed against her. Theft of property. Fraud. Money laundering. "Eric Matthews" said that he, "felt sorry for the tragedy that was getting ready to befall" her for her failure to pay back a $5,000 payday loan. They would be coming to arrest her tomorrow morning at 11am, he said in an identifiably Indian accent. When Laurie protested that she had never taken out such a loan, or even a payday loan in her life, and had never heard of US National Bank, Eric said she should have kept better records... More »
—>The LA Times says that recessions are boom times for scammers looking to take advantage of desperate people. They've listed 5 common scams that do well in a poor economy. They include bankrupcy scams, foreclosure scams, and fake home-based businesses. More »
—>So, Congress finally passed the bailout bill. You know about the Treasury's newfound $700 billion, and you've heard about the snipped golden parachutes, but what does the 451-page week-old shotgun savior of a bill actually mean for you? More »
—>Here's your second "Final Four" matchup: #3 Wal-Mart VS #15 Countrywide Home Loans. More »
Marketplace Money reminds you to watch out for "rescue scams" and "phantom counseling" when you're at risk of foreclosure. [Marketplace] More »
—>When you get a new or replacement credit card in the mail, you have to call the number on the back to activate it, or else you can't use it, right? Wrong. Despite the sticker on the back that says, "For security purposes, this card is not active," credit card companies are mailing out cards that can be used without phone activation. This is a problem if the letter containing your credit card is intercepted by an identity thief, like what happened to reader PC Guy. The kicker? He didn't even request the card, it was a forcible reissue when his store-branded card switched from Visa to Mastercard. His story, inside. More »
Smart Money has some new scams to watch out for, in particular, con artists trying to take advantage of people in foreclosure. [Smart Money] More »
—> SmartMoney has come up with five new spins on classic scams to watch out for in 2008: "The financial woes and natural disasters of 2007 have armed scammers with plenty of new tricks—or resourceful spins on old ones—aimed at separating you from your cash." More »
