Loan modification scams may not be the worst of monetary crimes, but they are certainly in the running. Taking advantage of financially distressed homeowners, the most common form of these scams is this: They take a large up-front fee (in the thousands) and then do nothing, or next to nothing, producing no beneficial results for […]
Entries Tagged as 'California Legislation'
Loan Modification Scams are Targeted
October 5th, 2009 · 1 Comment
Tags: California Legislation · FBI · AB 764 · California Department of Real Estate · DRE · Calif. Dept. of Real Estate · State Attoney General · Bob Hunt · Loan Modifications · Loan Modification Scams · Distressed Homeowners · Foreclosures
CALIFORNIA LEGISLATION AIMS AT PRACTICE OF REO SELLERS REQUIRING THE USE OF SPECIFIED TITLE AND ESCROW PROVIDERS
April 26th, 2009 · 1 Comment
Like many of their counterparts around the country, many California escrow and title companies are feeling the pinch of a diminished real estate market. They feel it especially because, not only is the pie smaller, but also they are getting a disproportionately smaller piece of the pie. The reason for this is that many banks […]
Tags: RESPA · CA Assembly Bills · California Legislation · Bob Hunt · State Legislation · Title and Escrow · REO's
FORECLOSURE “RESCUES” MAY BE ILLEGAL
February 2nd, 2009 · 2 Comments
Here’s the situation: A beleaguered home owner is in bankruptcy, overwhelmed by debt. The mortgage lender had begun foreclosure proceedings, but they were stayed by the bankruptcy court. That stay, however, is about to end, and the lender may be allowed to proceed. The owner owes the mortgage lender about $170,000. Another $50,000 (representing 13 […]
Tags: CA Assembly Bills · California Legislation · Distressed Homeowners · Bob Hunt · Foreclosures