Here, is the link to the new report of mortgage fraud by FBI.
http://www.fbi.gov/publications/fraud/mortgage_fraud08.htm
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Month: July 2009
Loan Fraud Companies Sued
We hear the loan fraud companies scamming homeowners. Now, this include loan modfication companies including their attorney. Here is the link.
http://www.mortgagefraudblog.com/ee-assets/my-uploads/UnitedFirstComplaint.pdf
Investors,Borkers Sued Over Sophisticated Fraud
Here, is an interesting complaint (lawsuit) which is filed in Arizona against a team of sophisticated network of investors, brokers, lenders and others.
http://www.mortgagefraudblog.com/ee-assets/my-uploads/Arizona%20Investments%20Complaint.pdf
Lots of Resistance to Loan Modification by Both Servicers and Lenders
We all thought that with the advent and efforts of the new Obama Administration, the loan modification process would be accelerated. But our hopes are dying down as both Servicers and Lenders are putting roadblocks one after another on some pretext in loan modification process. Too often they would claim they never received the documents. The call centers would route your call to wrong departments, or to different part of the world, especially India and Phillippines or even Costa Rica, where friendly representatives would greet you but without any help. Too often, their only concern is how to collect money from you. Here, is an excellent article published in NY Times about how Obama plans likes to speed up the loan modification program.
http://www.nytimes.com/2009/07/11/business/11nocera.html?8dpc
Servicers Still Resisting Loan Modifcation
NY Times has published an excellent front page story how the servicers are still resisting loan modifications despite many many attempts and efforts to do accelerate and simplify the loan modifications process by both banks and servicers. Here is this heart wrenching article from NY Times.
Loan Modification Taking Longer Times
USAToday has published an interesting articles about loan modifcation taking more and more times by lenders on various pretexts. Following is the story.
<a href=”http://www.usatoday.com/money/economy/housing/2009-06-18-obama-plan-mortgages_N.htm”>http://www.usatoday.com/money/economy/housing/2009-06-18-obama-plan-mortgages_N.htm
New Law Passed for Renters
The law office of Malik Ahmad receives many calls a day about the plight of renters whose homes had been foreclosed or are in the danger of being foreclosed. Many times tenants with tears and emotionally choked voices tell this law office about their sadful stores. Now, there is a good news for tenants that they cannot be evicted under the newly enacted federal laws. Please read it and if you don’t understand contact a local attorney.
http://www.tenantstogether.org/downloads/S.896Final.pdf
