Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Thursday, May 17, 2012
Indiana AG Targets Five More Out-Of-State Outfits For Allegedly Running Loan Modification Rackets
From the Office of the Indiana Attorney General:
More out-of-state scammers who profited off of Hoosiers desperate to keep their homes now face lawsuits by Indiana Attorney General Greg Zoeller.
Five lawsuits were recently filed against Freedom Equity Savings of Ohio, Integrity Mortgage and Credit Solutions of Florida, Provident Law Group, Inc. of California, Nationwide Mediation Services of California and Global Equity Solutions also know as Peachtree Consultants of Georgia.
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The companies are all accused of violating Indiana's consumer protection laws and taking more than $11,300 total from six customers living in Hamilton, Lake, Marion, Parke and Union counties. In all cases, the businesses promised to reduce homeowners’ interest rates or monthly payments in exchange for an upfront fee.
Consumers made payments ranging from $791 to $3,000 before realizing little or no progress had been made on their home loans. The state seeks an injunction, restitution and civil penalties against the companies.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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