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.
Saturday, October 03, 2015
Phone Call To Homeowner Behind On House Payments Purporting To Be From Mortgage Company Demanding Immediate Payment Of Several Hundred Dollars Under Threat Of Foreclosure A Scam
In Cleveland, Ohio, WKYC-TV Channel 3 reports:
A Cleveland man recently picked up the phone from a caller claiming to be a loan officer from a mortgage company, who said the local homeowner would face foreclosure unless he wired hundreds of dollars to a California address.
The local resident said he was behind on his mortgage payments, so he immediately sent the money.
But after later contacting his financial institution to confirm the payment, he learned the initial call he received was a fraud.
The Better Business Bureau is warning consumers to be on the lookout for those types of phone scams. The BBB said con artists typically target homeowners already on the brink of falling into foreclosure.
"Never agree to make any sort of payment before you verify the call is from your lender," BBB president Sue McConnell said in a statement. "People at risk for losing their homes cannot afford to fall into the hands of con artists."
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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