Tag Archives: foreclosure


Posted 2 years ago in Foreclosure by Aaron Kase  
Foreclosure Scams Rampant in Florida

A Florida man was recently sentenced to 26 years in prison for foreclosure and short sale fraud. John Lebron, 33, was convicted last week of setting up a complex scheme to buy and sell foreclosed houses, make money on each part of the deal, and default on the loans. He is hardly alone among foreclosure offenders. Florida is known as the nation’s capital in foreclosure fraud. The state was among the hardest hit by the collapse of the housing bubble …

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Posted 2 years ago in Crime Foreclosure by Aaron Kase  
Don’t Get Ripped Off by Short Sale Scammers

For struggling homeowners behind on their mortgages, the prospect of foreclosure can be a very real and very scary proposition. One potential way out of the mess is by a short sale, when the house is sold for less than the value of the mortgage and the bank agrees to write off the balance. However, it is critical in such stressful times to make clear decisions and not get ripped off by scammers who would take advantage of vulnerable homeowners. …

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Banks Run Roughshod over Widows in Foreclosure [Video]

  Banks are foreclosing on the homes of widows. Financial institutions are refusing to modify mortgages when husbands have died without listing their surviving wives on the notes. Lawyers.com journalist Ed Alpern shows you how banks have gotten away with these practices and how you can fight losing your home to foreclosure. Director of Foreclosure Prevention Litigation at Legal Services NYC Jacob Inwald emphasizes banks are under a legal obligation to attempt to avoid foreclosures and to promote loan modifications. …

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Foreclosed Families Get only $1,000 for Bank Mortgage Abuses

Ten major banks last week agreed to pay out $8.5 billion to settle allegations that they engaged in abusive foreclosure practices in 2009 and 2010. Of the settlement money, $3.3 billion will go to homeowners whose homes actually went into foreclosure. The remaining $5.2 billion will be used for loan modifications and other relief. Some 3.8 million homeowners were eligible for the review, meaning that the $3.3 billion in settlement money comes to less than $1,000 per family, although some …

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Posted 2 years ago in Creditor/Debtor Foreclosure Taxation by Michele Bowman  
Expiration of Debt Relief Act Could Revive Mortgage Crisis

A federal law that has helped consumers avoid paying taxes on money they never even had is set to expire at the end of the year. If it does, homeowners who are forgiven any of their debt when they are foreclosed on will have to pay income tax on the forgiven amount.   Forgiven “Income” To Be Taxed It seems crazy, but it’s true: Normally, if a homeowner owes $100,000 on her mortgage, but the property sells in foreclosure for …

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