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Callers spoof the caller ID number of the victim's actual lending institution, swindling money from those seeking financial relief. FCC warns of 50-state scam by fraudsters posing as mortgage ...
Mortgage elimination is a type of mortgage fraud in the United States.In this scam, the promoter first convinces a mortgage holder that the debt that has been contracted is invalid or legally unenforceable, usually due to a combination of alleged technicalities in the note, deed of trust, or other loan documentation signed; the promoters often link their rationale for debt elimination to ...
Equity stripping or equity skimming is a variation on lease-buyback and is one of the most common types of foreclosure rescue schemes. [4] In it, the perpetrator assumes ownership of the house while allowing the former owner to continue living there, provided that s/he pay rent to the perpetrator, who is the new owner.
While there are no specific laws against predatory mortgage servicing abuses, [6] there are local, state, and federal laws against many of the specific practices commonly identified as predatory mortgage servicing abuses, and various state and federal agencies use the term as a catch-all term for many specific illegal activities in the mortgage servicing industry.
The Federal Trade Commission has mailed refund checks to 1,410 consumers swindled by Home Assure LLC, a mortgage relief scam that charged consumers an upfront fee to save their homes from ...
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Matthew Bevan "Matt" Cox (born July 2, 1969) is an American former mortgage broker and admitted mortgage fraudster and con man. Cox, also a true crime author, wrote an unpublished manuscript entitled The Associates in which the main character traveled the country to perpetrate a mortgage fraud scheme similar to the one Cox ran.
The Dave Ramsey mortgage plan encourages homeowners to aggressively pay off their mortgages early, however. One recommendation Ramsey makes is to convert your 30-year mortgage into a fixed-rate ...