Here’s another interesting report of a mortgage scam. This one is out of Salt Lake City: KUTV.
And more detailed report on what’s going on in Illinois.
Finally, here’s something that I fear we’ll be seeing more of in the months and years ahead. In a Kansas City federal court, a former loan officer and a former real estate appraiser were sentenced for their part in a mortgage fraud scheme. They would help consumers get inflated mortgages by using inflated appraisals. Both got five years probation and both have to pay more than $1 million in restitution. The loan officer worked for Ameriquest Mortgage, a company which has agreed to pay the Commonwealth of Massachusetts millons in restitution for similar practices which ultimately left homeowners with debt they could not handle.
Related posts:
- Finding Foreclosure Fraud
- NY Suit Targets Appraisal Company
- Too Little and Too Late
- Short Sales & Foreclosure: Perception & Reality
- Foreclosure Scams in Southern California
Tags: Consumer Rights, Consumer Scams, Mortgages and Foreclosures