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Mortage Scams
Mortage Scams

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AIR DATE: September 6, 2010

Both federal and state authorities continue to investigate and prosecute mortgage fraud. The problems date back to the boom when banks were defrauded. And mortgage modification rackets continue to proliferate. We discuss the whole range of scams with former U.S. Attorney Greg Brower and Nevada Deputy Attorney General John Kelleher.

GUESTS Greg Brower, Partner, Snell & Wilmer, former U.S. Attorney
John Kelleher, Senior Deputy Attorney General and head of the Nevada Mortgage Fraud Task Force

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COMMENTS:
I'm trying to pay my credit cards debts through this company "FINANCIAL SOLUTION OF AMERICA."
How or where can I see it licence# OR something that shows me that it is a registered legal firm?

miguel hernandezSep 1, 2010 12:08:39 PM
LENDING TREE is also engaging in scams.

We applied for refinancing and asked for a specific type of loan. Len. tree proceeded to process the app. into a different type of loan we did NOT want.

When we brought to their attention they said go ahead to sign the docs "to secure your interest rate" and "we will correct the problem". they went ahead an completed the BAD app and tried to force us into it. we demanded, in writing, to "CANCEL EVERYTHING" before funding and asked for a refund since we nothing was done as our specific request.

Lend Tree refused to reimburse by all means and never returned our money.

A

ALSep 1, 2010 10:07:44 AM
Is it better to foreclose or short sale your home? We'd been told if you foreclose the banks cant come after you past 6 mo. But with short-selling, getting a waiver is just about impossible. What are our options if we cannot afford our first and second mortgage?
BettySep 1, 2010 09:49:28 AM
Is there is website where people can find the list of fradulant companies
DonnaSep 1, 2010 09:33:06 AM
I'm wondering if it is fraud for someone who is seriously upside down in their home BUT making the mortgage payments to simply stop making payments and await the foreclosure process - walk away? I have heard and read about this. What's the long term impact to a person who does this?
SamSep 1, 2010 09:18:43 AM
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