How to protect yourself from mortgage fraud

dennis-norman-st-louis-realtorThe collapse of the real estate market, along with a down economy has created a fertile environment for fraudsters to attempt to advantage of the many desperate homeowners that are out there. Their methods vary from foreclosure “rescue” schemes, mortgage assistance scams and other scams that generally offer to lower your payments or debt, prevent foreclosure, etc. Below is a list of tips the Department of Justice published this week to help consumers prevent themselves from becoming a victim of fraudsters. Continue reading “How to protect yourself from mortgage fraud

Bank of America, J.P. MOrgan Chase, Wells Fargo, Citigroup and Ally Financial reach $25 Billion Agreement with Fed & State Government over Foreclosure Abuses

The Justice Department, the Department of Housing and Urban Development (HUD) and 49 state attorneys general announced today the filing of their landmark $25 billion agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses. Continue reading “Bank of America, J.P. MOrgan Chase, Wells Fargo, Citigroup and Ally Financial reach $25 Billion Agreement with Fed & State Government over Foreclosure Abuses

Justice Department Settles Disability Discrimination Case Against Property Management Company for $1.25 Million

The Justice Department today announced a $1.25 million agreement with Warren Properties Inc., Warren Village (Mobile) Limited Partnership and Frank R. Warren to settle allegations that the defendants violated the Fair Housing Act by refusing to grant a tenant’s requests for a reasonable accommodation. This settlement is the largest ever obtained by the department in an individual housing discrimination case. Continue reading “Justice Department Settles Disability Discrimination Case Against Property Management Company for $1.25 Million

Former Employee of Florida Property Management Company Pleads Guilty to Wire Fraud

A former residential sales manager at a Florida property management company pleaded guilty to wire fraud in connection with housing repair contracts for the U.S. Department of Veterans Affairs (VA), the Department of Justice announced this week.

Benjamin K. Graves, formerly a residential sales manager at West Palm Beach, Fla.-based Ocwen Loan Servicing LLC, pleaded guilty today in U.S. District Court in Orlando, Fla., to wire fraud. According to the one-count felony charge filed on Nov. 12, 2010, in the Middle District of Florida, Ocwen managed foreclosed properties under contract with the VA, which guaranteed qualifying residential mortgages for veterans. Under the contract between the VA and Ocwen, if a veteran defaulted, Ocwen completed necessary repairs and re-sold the property. Continue reading “Former Employee of Florida Property Management Company Pleads Guilty to Wire Fraud

Justice Department Reaches Settlement with Prime Lending to Resolve Allegations of Lending Discrimination

Settlement Provides $2 Million to African-American Borrowers Who Paid Higher Interest Rates

PrimeLending, a national mortgage lender with 168 offices in 32 states at the end of 2009, has agreed to pay $2 million to resolve allegations that it engaged in a pattern or practice of discrimination against African-American borrowers between 2006 and 2009. Continue reading “Justice Department Reaches Settlement with Prime Lending to Resolve Allegations of Lending Discrimination

Justice Department Obtains $120,000 Settlement in Housing Discrimination Lawsuit Against Indiana Condominium Association

The Justice Department announced this week that a Munster, Ind., condominium association and its three member board of directors have agreed to pay $120,000 to resolve allegations that they refused to approve the sale of a condominium to an African-American couple because of their race and because they had children.   The settlement must still be approved by U.S. Senior District Judge Philip P. Simon. Continue reading “Justice Department Obtains $120,000 Settlement in Housing Discrimination Lawsuit Against Indiana Condominium Association

North Carolina Real Estate Speculator Pleads Guilty to Bid Rigging in Real Estate Foreclosure Auctions

A Raleigh, N.C., real estate speculator pleaded guilty to conspiring to rig bids for public real estate foreclosure auctions held in multiple counties in eastern North Carolina, the Department of Justice announced today.

Christopher J. Deans pleaded guilty yesterday in U.S. District Court in Greenville, N.C., for participating in a conspiracy to rig bids during the real estate foreclosure auction process in eastern North Carolina from at least as early as April 2003 until at least April 2005.   The primary purpose of the conspiracy was to suppress and eliminate competitive bidding on foreclosed properties and obtain selected real estate offered at public foreclosure auctions at non-competitive prices. Continue reading “North Carolina Real Estate Speculator Pleads Guilty to Bid Rigging in Real Estate Foreclosure Auctions

Justice Department Files Fair Housing Lawsuit in Missouri Against Owner and Managers of Federally-Subsidized Property for Race and Sex Discrimination

The Justice Department announced it has filed a lawsuit today in federal court for the Eastern District of Missouri alleging a pattern or practice of violations of the Fair Housing Act by the owner and managers of Forum Manor Apartments, a federally-subsidized apartment complex, for refusing to rent to African-Americans and males, refusing to allow tenants to have African-American visitors, sexually harassing female tenants and retaliating against tenants who complained about such discrimination. Continue reading “Justice Department Files Fair Housing Lawsuit in Missouri Against Owner and Managers of Federally-Subsidized Property for Race and Sex Discrimination