foreclosure fraud : Loan Modification Key

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The foreclosure trap

“The Patricks, like millions of homeowners who have run into mortgage problems before them, were actually put in a worse position by the very party they thought would help them out, their loan servicer. When they sent in their regular $700 monthly mortgage payment last October, the Patricks were just two payments behind. Their issues

Mesa brothers get prison in $28M mortgage fraud scheme

Scott and Kevin Lee made millions through their family business. Authorities said their business was mortgage fraud. The two brothers pleaded guilty to orchestrating a $28 million loan scheme through their Mesa company, Summit Capital. A federal judge last week sentenced Kevin Lee to a year in prison, making him the last of five conspirators

Ocwen sets aside $100M to end legal troubles

“Ben Lawsky appears to be ready to make quick work of mortgage-servicer Ocwen Financial. The head of the New York Department of Financial Services could settle with the embattled Atlanta company before the end of the year — as negotiations over penalties for conflicts of interest and misdated loan modification letters are beginning to take

Ocwen Woes Continue as CEO Pens Apology to Borrowers

“Amid an ongoing investigation by the New York Department of Financial Services (DFS) into the servicing practices of Ocwen Financial Corporation (NYSE: OCN), the company has issued an apology to any homeowners who may have been affected by misdated letters regarding foreclosure or loan modification. In an open letter dated Friday, Ocwen CEO Ron Faris

Wells Fargo Accused of Death by Foreclosure

“A woman has sued Wells Fargo Bank, accusing it of causing her mother’s death when it foreclosed on her Fresno, California, condominium.   Marsha Kilgore stopped working in 2005 after being treated for breast cancer. After making mortgage payments on her condo for 16 years, she refinanced with a “pick-a-payment” loan through World Savings. In
IMPORTANT: The text in this website and product(s) sold on this website do not substitute for legal advice. Nor does the text substitute for real estate, financial, tax, bankruptcy or other professional advice. Loan Modification Key® and its owner(s) cannot and do not guarantee results from any lender or servicer. Loan Modification Key® and its owner(s) do not represent any loan modification program or governmental program. Loan Modification Key® and its owner(s) do not represent any government agency. The text herein represents information, opinion and expertise gathered in the last several years' experience in the mortgage industry. Loan Modification Key® is a non-profit 501 (c)(3) tax-exempt organization.
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