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[20] [21] Since the 2010 crisis, 62 million mortgages are held in the name of MERS, [22] and MERS has initiated thousands of foreclosures in the United States, claiming to be the mortgagee of record. Lawyers have contended in court that MERS has no legal right to initiate a foreclosure, because MERS does not own the loans in question.
A multimillion-dollar scam by real estate agents and loan officers, in collusion with homebuyers, left mortgage lenders in the dust, authorities say. Two real estate agents and two mortgage loan ...
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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.
The "speakermen" are ready to be haggled down to a seemingly minuscule price, because the speakers they are selling, while usually functional, actually cost only a tiny fraction of their "list price" to manufacture. The scam may extend to the creation of Web sites for the bogus brand, which usually sounds similar to that of a respected ...
Home & Garden. Lighter Side
Inquiries and complaints about so-called forensic loan audits, aimed at getting mortgage modifications, are soaring -- leading consumer groups to warn that many of them are scams. Consumers need ...