Hundreds Swept Up in Mortgage Fraud Arrest

[fivequotes]

Pretty good post.

[21boxhead]

most of us lost our jobs because of these fraudsters

[spectrum0590]

How many people who behind in mortgage scam already sent to justice considering it was already a while ago.

[spectrum2000now]

Government, People/Borrower, Mortgage lender, and Wall street has their own part of mistakes why mortgage crisis arise. Now that U.S are starting to recover from the past crisis, we should all learn from our mistakes.

[TheOut4justice]

People need to get with it. Its the wall street scammers that are responsible for this mess!

[pressurechanges]

Will do nothing real criminals dired them to sell new product they gave donations to congress and Clinton to create lood hole, end Glass Stegal. Crooks doing well employees little trouble. Regan started piggy bank housed encouraged private investment, Clinton kicked out the chair, Bush lowered standards. They all are part and should be in custody.

[krazymindreader]

I hope this sends a message to those who profit over other people's misfortune.

[rippinandrunnin]

About Freaking Time. This is a HUGE fraud perpetrated upon EVERYONE with a Mortgage. I hope it all comes out finally!

[takepills]

If your house is foreclosed, DON'T LEAVE. It's not your fault you lost your job its the banks and governments overspending. free quality housing, food, transportation, and loving communities for all regardless of "occupation" or we're done, even more than we already are. Not socialism, basic human rights. this way we can focus on what's really important and finally really contribute to all. "survival" a racket system created by banksters. There is enough for all and always has been.

[dirtylos30]

they should arrest borrowers that bought homes they knew they couldnt afford

[HatRatt]

at least those borrowers should not get scott-off free! They too, had a hand in creating this mess............

[dirtylos30]

yeah I totally agree. That's why I was saying that borrowers are to blame too. I am not saying fraud is good, but borrowers committed fraud too, not just industry workers.

[Dewdaahman]

it's about time.. just another 12,000 mortgage companies ,banks and brokers to go.. oh yeah, and the criminal element that IS our sitting gov't should be tried as well for Treason..

[Harrison3377]

There are a few you missed over here...

[foreclosuredog]

Even RENTERS ARE AFFACTED !

The number of tenants in investor-owned properties affected by the

crisis is also on the rise. Many renters are unaware that the homes they are living in or

moving into are already in foreclosure, and that the owner may be collecting rent but not

paying the loan. This problem has been seen even among Section 8 properties, where

tenants who already are facing economic hardships and instability are being kicked out

of their rental homes.

[matter1234]

Affected

[foreclosuredog]

The foreclosure crisis is real! Are there any lists of resouces out there for average homeowners to be able to modify their loans? I found this online from Senator Boxer's report I'm posting information here if anyone knows any specialists on this topic who can add to the discussion because there are too many homes on our block that are up for sale and we believe that there is only one end in sight and we are very happy to see changes coming from the top down and the bottom up! Please listen

[Massey2Moussa]

Several days later a call came to me saying they represented her office and that they would mail me my contract by internet. I received a copy of the hand filled out application that I put some of the fees she asked me for with and receipt with hand written amounts of what I owe them for how long under the words Rental agreement. I emailed back that I needed the contract in full (all documents that I signed and initialed) and received no more reply.

[Massey2Moussa]

The next day she came to give me the one mail box key and told me that her company does not give copies of the contract. After research of other residents I found the name of the main company name and requested info from the Better Business Bureau, which gave me the address and took my complaint and said that they could not get any reply from company. Several days later a call came to me saying they represented her office and that they would mail me my contract by internet.

[Massey2Moussa]

but told me she needed to give me my copies of the multiple (over 30 page) copies and mail box keys tomorrow as she had an appointment standing outside of her office. For a week I could not contact her, unlike the week before when she was calling me constantly. When I went to try and ask her for the mail key and contract, her husband cursed me out and told me I would have to stand in line with my request.

[Massey2Moussa]

I believe that I am a victim of Mortgage Fraud as well as allot of my neighbors.

on or about June/July 2008 by Rebbeca Tilley whom told me that I was purchasing my mobile home from her company and that I needed to sign over 30 documents by initial and signature, I read forms that had bank lenders name and stipulation of contracts, though she kept prompting me with her urgency to wrap things up, I asked questions and she gave me brief answers,

[kevint864]

A mobile home is not a "mortgage" it is like buying a car. It is a loan, but not a loan on real estate.

You "may be" a victim of fraud, but not mortgage fraud.

Unless there is something you have left out. Were you buying the lot along with the mobile home?

[fraudbuster1]

When is the notorious Emerald Mortgage Corp (of California) and its broker/owner Markus Shepherd getting indicated? I know that the California Department of Real Estate and the California Department of Corporations has recently nailed them, and there are also about 15 civil suits in various stages. I guess the FBI is slower than the state and civil system...

[mikexxxxnolan]

The banks would have less trouble if they acted honestly. Abbey National Plc of England were taken over by Banco Santander of Spain because of dishonesty and defying court orders issued on the 6th December 1995. The share price at takeover was low because nobody else would touch them. The report SFO/3/C/920 to the Serious Fraud Office in England being a factor as the fraud was already proven in court and was therefore not an allegation.

Michael Stephen Nolan 20th June 2008 Dublin - Eire

[kng863]

I bet most of these problems wouldn't exist if banks required borrowers to put some down payment under traditional lending standards. Instead they opted for the gun-ho approach.

[hittingrabbit]

There was a 10% deposit put down on the mortgages,problem was that the housing prices were over valued,meanwhile the banks kept loaning money out that added more housing so much that the property values declined,below the actual mortgage amounts,deregulation of the banks toinclude Insurance mergers,insuring these loans didn't have capital to pay out thus more fraude.

[karinablack]

That's great that they're doing all of this, but the beginning and end of our economic woes are not in the housing market. It's in the job market: shipping jobs overseas for cheaper labor.

Not only are people losing houses due to being put in the "wrong" mortage, they're losing their homes because they simply can't make the payments. If someone's in a "wrong" mortgage- they can refinance most times.

This is just a band-aid on a seeping head wound.

[hittingrabbit]

I agree this all seems to be on purpose,Nafta has been a failure and they know it,but refuse to correct it.

During the 1980's the U.S farms were shutting down because of Wallstreet,to keep the commodities higher.now farms are dependent upon the Bankers the start of each season.

[happybois]

funny how the and is reserved for what should be first in the list. bla, bla, and... i hate standards and commas where a pause is already implied