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SALT LAKE CITY -- A man who owned a loan modification business in Lehi and St. George is being accused of defrauding homeowners to pay for personal expenses including entertainment and his wife's ...
Green Mirage scammers have impersonated more than 400 mortgage institutions and caused hundreds of thousands of dollars of losses to deceived homeowners, many of whom only learn of the fraud when ...
Desperation is powerful fodder for scams and a troubled and problem-plagued federal loan modification program offers added opportunity for scamming. So it comes as no surprise that the New Jersey ...
Mortgage fraud by borrowers from US Department of the Treasury [7]. Mortgage fraud may be perpetrated by one or more participants in a loan transaction, including the borrower; a loan officer who originates the mortgage; a real estate agent, appraiser, a title or escrow representative or attorney; or by multiple parties as in the example of the fraud ring described above.
A loan modification company, also known as a mortgage modification company, is a business that helps homeowners in the United States modify the terms of their home loans or mortgages. When a mortgage is modified, the original terms of the home loan contract between a lender and a borrower are renegotiated and then altered, usually in the favor ...
Consider the following tips to avoid potentially damaging scams. 1. Unrealistic guarantees for approval. One of the easiest ways to spot a loan scam is the promise of guaranteed approval.
Loan modification is the systematic alteration of mortgage loan agreements that help those having problems making the payments by reducing interest rates, monthly payments or principal balances. Lending institutions could make one or more of these changes to relieve financial pressure on borrowers to prevent the condition of foreclosure.
The federal government has shut down 85 alleged online loan modification scams, and secured the cooperation of Google to stop the purportedly false advertising by those web operations. The ...