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Reader's Digest - Cheated Out of House and Home |
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Monday, 10 July 2006 |
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Don't let these scams happen to you!
The term mortgage fraud encompasses a grab bag of cons and tricks, perpetrated on victims ranging from average homeowners to novice real estate investors to savvy bankers and the banks they represent. It is, according to FBI Special Agent Ronda Heilig, "one of the fastest-growing white-collar crimes in the United States." ...Mortgage fraud has been around as long as home loans, but recent trends have made it easier -- and far more lucrative -- to game the system. Here's what's driving the crime spree...Avoid Being Scammed |
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You don't have to roll over and play dead. |
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Tuesday, 27 June 2006 |
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You can't be forced to use builder's lender
One of the federal government's top housing officials has this practical advice for anyone negotiating with a builder to buy a new house: You can always say no.When the builder dangles thousands of dollars of ``free'' upgrades or closing cost discounts in front of you if you'll agree to use the builder's affiliated mortgage lender -- and threatens to withhold those incentives if you get your loan elsewhere -- you don't have to roll over and play dead. |
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Tuesday, 27 June 2006 |
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Home Builder "Incentives" to Buyers Under Federal Scrutiny
Have you ever wondered how home builders can offer such generous incentives -- thousands of dollars worth of upgrades, closing cost contributions and other financial goodies -- provided buyers agree to use the builder's affiliated or controlled mortgage company? Are these come-ons legit? ...HUD's Real Estate Settlement Procedures Act (RESPA) investigative staff is interested in possible violations of federal rules in the builder-incentives field. |
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Beware of Builder Incentives - Just say no |
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Monday, 26 June 2006 |
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Just say no to builder incentives with strings attached
One of the federal government's top housing officials has this practical advice for anyone negotiating with a builder to buy a new house: You can always say no...But federal real-estate settlement rules "require that these incentives be legitimate and not built into the price of the house or the cost of the loan." In other words, builders cannot tempt you with illusory benefits — alleged discounts that you're actually paying for somewhere else in the deal. |
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MSN Real Estate - Don't hand your house to a thief |
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Saturday, 17 June 2006 |
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Don't hand your house to a thief
Mortgage scams are like Baskin-Robbins offerings -- they come in 31 flavors. Here are three top choices of con artists and how to avoid them
If owning a home is the great American dream, then swindling people out of their prized possession is one of the great, lucrative American scams. Mortgage fraud is on the rise, thanks to the tremendous value that's locked up in real estate today and to the increasing number of people who are struggling to pay their mortgages. |
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Builder Online - Fannie Mae fined between $300 million & $500 million |
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Wednesday, 24 May 2006 |
Fannie Mae to Pay Large Fine in Settlement
Embattled mortgage giant Fannie Mae is being fined between $300 million and $500 million for the alleged manipulation of accounting so that executives could collect millions in bonuses, according to a person familiar with the settlement . The deal with the Office of Federal Housing Enterprise Oversight and the Securities and Exchange Commission was being announced Tuesday as the government-sponsored company struggles to emerge from an $11 billion accounting scandal. |
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Mobile Homes Foreclosures Soar |
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Sunday, 02 April 2006 |
Ownership dreams take a bitter turn
... 67 percent of mobile homes have been foreclosed on since 2001, according to data from Foreclosure Information & Listing Service in The Woodlands...The U.S. Department of Housing and Urban Development, which backed many of the mortgages on the homes, has subpoenaed the attorney representing the homeowners for loan files and other documents related to the case. The FBI is also aware of the situation, but representatives from the agencies would not confirm or deny an investigation. |
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Mobile Homes and Mortgage Fraud |
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Sunday, 02 April 2006 |
How one buyer ended up in a bind over a mortgage
WHEN April Underwood Troquille bought a mobile home in Emerson Estates in 2002, she thought she was agreeing to a $60,000 mortgage with payments of $700 a month. But she ended up a few weeks later with an $86,500 mortgage, a payment of $879 a month and, eventually, a house in foreclosure. |
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WFAA News 8 Investigates Loan Fraud |
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Friday, 10 March 2006 |
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News 8 Investigates: Mortgage Fraud A crime some say is as old as prostitution may be going down in your neighborhood: mortgage fraud. It's happening in record numbers in North Texas, and it is white collar crime at its worst. The criminals are sly. Their methods are difficult to detect and tricky to prosecute. Mortgage fraud can blindside even the most honest people—including former Dallas Cowboys cornerback Deion Sanders. News 8 Investigates in the first of a two-part series. |
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Wednesday, 01 March 2006 |
Fannie fraud still a 'threat'
THE $US11 billion ($14.9 billion) accounting fraud at Fannie Mae stemmed from an "earnings at any cost culture" and the US mortgage giant still posed a systemic threat to financial markets, Randy Quarles, undersecretary for domestic finance at the US Treasury, said. A 17-month internal investigation into Fannie Mae's accounting practices, released on Thursday, exposed no new irregularities and did not implicate any of the government-sponsored enterprise's current management.
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Predatory Lending Settlement - Victims may get little |
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Monday, 30 January 2006 |
Mortgage settlement could fall short for borrowers
State leaders say a settlement with Ameriquest Mortgage is an efficient solution that guarantees thousands of Washington homeowners will get some restitution money. But several local attorneys and a former senior assistant attorney general say the terms of the settlement in the predatory-lending case mean consumers may get much less than they deserve. |
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