A Bird's Eye View » Foreclosure

Tempe and Glendale AZ Foreclosure Rescue Firms Settle Mortgage Fraud Lawsuits

roostblog — Mon, 26 Oct 2009 20:49:10 +0000

Tempe and Glendale Attorney General (AG) Offices settled lawsuits earlier this month in two mortgage fraud cases. The settlements totaled $1.37 million, much of which will be returned to homeowners scammed by foreclosure rescue fraud.

Unsuspecting consumers were victimized by foreclosure rescue scams. Taken Care of Investments Principal Richard Winer will pay fines to the tune of $691,000 without admitting guilt. Homeowners risking foreclosure hired the firm in hopes of remaining in their homes.

The company promised to buy [...]

Foreclosure Consultants Ordered By AG to Post Bond and Register

roostblog — Sun, 25 Oct 2009 20:44:34 +0000

In the battle against foreclosure and loan modification fraud, Attorney General (AG) Jerry Brown ordered over 380 mortgage foreclosure consultants to register with the AG’s office and post a $100,000 bond each. Letters were sent to each to post the required bond and register within 10 days, or provide justification as to why they should be exempt.

If the companies don’t register, post bond, or show good reason not to, criminal penalties could be imposed for up to one year in [...]

St. Paul, MN Applies for $46M in Stimulus Funds to Fix Up Foreclosed Properties

roostblog — Wed, 07 Oct 2009 20:16:08 +0000

St. Paul officials are applying for $46 million in federal stimulus funding, so that the city can purchase and renovate hundreds of area distressed homes.

The city currently has over 19,000 properties sitting vacant due to foreclosure or abandonment. These vacant properties cost St. Paul coffers $38 million annually. City officials commented that the stimulus funds would better equip the city to address the growing number of foreclosures in St. Paul.

Should St. Paul be approved for the funds, the [...]

Foreclosure Drove Brower County Woman to Suicide

roostblog — Mon, 05 Oct 2009 18:36:41 +0000

One Brower woman made a life or death decision when she lost her home to foreclosure. The mortgage holder and movers came to repossess Heather Newnam’s home this past Monday. They all arrived at the house at 1 p.m., and informed her that she was being evicted.

Newnam said that she would leave the residence after she secured her dogs. When she never came out, SWAT was called to the scene to convince the woman to exit the [...]

Minneapolis Federal Lawsuit Seeks Moratorium on Foreclosures

roostblog — Thu, 01 Oct 2009 18:54:47 +0000

A federal lawsuit was filed in the Minneapolis federal court earlier this year that sought to block all home foreclosures in Minnesota. Court records state that a new federal program designed to assist struggling homeowners in refinancing their mortgages is failing. It does not provide proper notice of why refinancing is being rejected, nor does it enable homeowners the right to appeal.

The program referenced in the court filing is the Making Home Affordable (MAH) program, which reduces monthly [...]

Sarasota, FL Judge Delivers a Smackdown on Mortgage Foreclosure Proceedings

roostblog — Sat, 26 Sep 2009 16:23:50 +0000

In March of this year, an Emergency Administrative Order was issued that suspended all telephone hearings in regards to mortgage foreclosures cases in Florida counties of Sarasota and Manatee. The Chief Justice issued the order to require attorneys for the foreclosing mortgage lender and for the defendant(s) to show up in person for all foreclosure hearings, including the Summary Judgment.

This, of course, presents a hardship to the attorneys for the foreclosing mortgage lender. They will no longer be able to [...]

Norfolk, VA Group Hosting Foreclosure Prevention Workshop Sept. 13

roostblog — Thu, 03 Sep 2009 23:28:12 +0000

In case you didn’t know it, Norfolk has a foreclosure intervention network, and the group is offering a free workshop to the public. Information and resources will be presented that will assist those who are concerned about foreclosure on their homes.

Foreclosure Intervention Network is hosting Foreclosure Prevention Workshop scheduled for Saturday, September 13. Registration starts at 8:30A.M. and the workshop runs 9:00A.M. – 1:00P.M. The workshop will be held at the Workforce Development Center located at 201 [...]

FBI Postures for Fight Against Escalating Mortgage Fraud

roostblog — Tue, 25 Aug 2009 23:50:27 +0000

Most cities across the nation are becoming all too familiar with foreclosures and vacancies. Most people only see a “For Sale” sign in the front yard overrun with uncut grass and weeds.

What most don’t see is the fraud committed that caused some of these homes to fall into foreclosure.

According to a report by the FBI, mortgage fraud is a costly liability for lenders across the nation – to the tune of over $1.4 billion last year. Even higher figures [...]

State of Massachusetts Sees Foreclosure Filings Rise But Finalized Foreclosures Decline

roostblog — Fri, 24 Jul 2009 16:39:32 +0000

With all the bad news in the real estate market today, there’s a ray of hope shining in Massachusetts.

While the number of foreclosure petitions filed is rising, finalized mortgage foreclosures are declining across the state.

Statistics compiled by the Boston-based Warren Group, a provider of real-estate data, revealed that so far this year, 385 foreclosures have been finalized in Massachusetts. That’s down from the 582 completed this time last year. In June of this year, a total of 41.67 [...]

Mortgage Rescue Fraud Escalating in Florida

roostblog — Tue, 21 Jul 2009 19:32:28 +0000

Orlando-based Wineberg, Lopez & Rodriguez Co. appealed to Hispanics by advertising their financial rescue services on Spanish-speaking television and radio programs. Hipolita Roustand responded to one of their ads, and hired them to help modify her mortgage.

The 51-year-old professional housekeeper gave the firm her life’s savings of $700 in addition to biweekly payments of $260 – $1,995 in total. She figures she toiled over more than 20 jobs to pay the Wineberg firm. Roustand, along with hundreds [...]