Loan Modification

Michigan Pair Join 10 Charged with Foreclosure-Rescue Scam

Posted on August 01, 2010
A Livingston County businesswoman and her employee are two of the 10 people charged Thursday for defrauding Michigan families out of thousands of dollars in a foreclosure-rescue scam. Michelle Rene Garbuschewski, who also uses the name Michelle Justice and owns Howell’s Elite Mortgage Relief, is facing two counts of obtaining at least $1,000 but less than [...

Detroit area businesses, individuals caught in foreclosure rescue scam sting

Posted on July 31, 2010
Michigan Attorney General Mike Cox today announced the filing of 19 criminal complaints containing 69 charges against illegal advanced fee “foreclosure rescue” operations accused of defrauding Michigan families of thousands of dollars. Several of those complaints involve Wayne and Oakland county businesses and residents caught in the statewide sting...

Three Charged With Participating in Connecticut Mortgage Fraud Conspiracy

Posted on July 30, 2010
David B. Fein, United States Attorney for the District of Connecticut, today announced that a federal grand jury sitting in New Haven has returned an 11-count indictment charging STEVEN J. KOTTAGE, 44, and GENARO R. HATHAWAY, 46, both of Weston, and MARY ELLEN DURSO, 53, of Milford, with conspiracy and other offenses stemming from the [...

GOP lawyer Steve Stoll under inquiry by Florida Bar

Posted on July 29, 2010
Steve Stoll, a politically connected Republican attorney in Fort Lauderdale arrested last month in a mortgage fraud case, is now under investigation by the Florida Bar. Florida Bar spokeswoman Karen Kirksey declined to provide specifics except to confirm that Stoll and fellow lawyer Stephen Orchard, also indicted in the fraud case, are under investigation...

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Mortgage Fraud: New Schemes Emerge

Posted on July 28, 2010
Certain U.S. markets are expected to continue to see incidents of mortgage fraud grow. In fact, LexisNexis Risk Solutions has identified five markets in Florida as being the weakest and most vulnerable to mortgage fraud. Other markets listed as targets for fraud include cities and suburbs in New Jersey, Virginia and Arizona...

Georgia Woman Imprisoned for 18 Months for Mortgage Fraud

Posted on July 27, 2010
The United States Attorney?s Office for the Middle District of Pennsylvania announced that an Atlanta, Georgia resident was sentenced to 18 months in federal prison by Senior U.S. District Court Judge William J. Nealon for her role in a Luzerne County mortgage fraud scheme in 2005 and 2006...

S. Holland, Michigan man, 6 others accused in $16M loan scam

Posted on July 26, 2010
A 44-year-old South Holland man is due in court today after his federal arrest on charges that he led a mortgage fraud ring that bilked lenders out of at least $16 million. Kenneth Steward was arrested Tuesday by FBI agents and U.S. Postal Service inspectors...

A $200 Million Mortgage Scheme

Posted on July 25, 2010
Dr. Fred Bloom unwittingly sold this house into what may have been a mortgage-fraud ring. I may be on the losing end of a $200 million mortgage-fraud scheme. Earlier this year, my colleagues and I bought a tiny slice of a toxic asset, a bond backed by a bunch of bad mortgages...

Seven More Defendants Sentenced for $12.6 Million Mortgage Fraud Scheme

Posted on July 24, 2010
KANSAS CITY, MO?Beth Phillips, United States Attorney for the Western District of Missouri, announced today that seven more defendants have been sentenced in federal court for their roles in a $12.6 million mortgage fraud conspiracy that involved 25 upscale residential properties in Lee?s Summit, Mo...

Seven Defendants Indicted in Alleged $35 Million Mortgage Fraud Scheme

Posted on July 23, 2010
A South Holland man was arrested on federal charges alleging that he and six co-defendants participated in a $35 million mortgage fraud scheme involving more than 120 residential properties located primarily on the city?s south side, federal law enforcement officials announced today...

Miami Man Charged in Palm Beach Mortgage Fraud Scam

Posted on July 22, 2010
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida; John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office; Henry Gutierrez, Postal Inspector in Charge, U.S. Postal Inspection Service; J...

Beltsville Leader in Mortgage Fraud Scheme Sentenced to Over Four Years in Prison

Posted on July 21, 2010
Paid Over 15 Straw Purchasers and Used False Documents to Buy 25 Properties; Received Over $3.8 Million in Fraud Proceeds BALTIMORE, MD?U.S. District Judge J. Frederick Motz sentenced Timothy Reed, age 45, of Beltsville, Maryland, today to 51 months in prison followed by five years of supervised release for mail fraud arising from the fraudulent purchase [...

Minnesota mortgage broker pleads guilty in $20 million mortgage fraud scheme

Posted on July 20, 2010
A Buffalo, Minn. man pleaded guilty Thursday over his involvement in a mortgage fraud scheme that lost at least $20 million for lenders, the Minnesota U.S. Attorney’s Office said. Richard Mathew Laho, 54, pleaded guilty in St. Paul’s U.S. District Court to one count of mail fraud, a felony that carries a penalty of up to [...

Michigan Woman Victim Of Mortgage Loan Scam

Posted on July 19, 2010
Kaiyotta, who doesn?t want her last name published, said two years ago she was an unemployed college student searching for a job. The 23-year-old said she found an opportunity in the paper that seemed perfect for her career path. It was a chance to be a landlord...

Georgia Jury Convicts Attorney on Mortgage Fraud Charges

Posted on July 18, 2010
After a three-day trial, a jury in federal district court returned a guilty verdict yesterday against Emanuel County, Georgia attorney John R. Thompson on mortgage fraud charges. The case was tried before District Court Judge B. Avant Edenfield at the U...

South Carolina Mortgage Fraud Targets Homeowners At Risk Of Foreclosure

Posted on July 17, 2010
Mortgage fraud is a growing problem according to the Department of Consumer Affairs. Scammers are targeting homeowners behind on their payments. They claim to modify your loan. But they charge you up front, and have nothing to show for it. Margaret Alexander is battling cancer and has been unable to pay her mortgage while on disability...

Ex-Cowboy Lockhart arrested, freed as he awaits mortgage fraud trial

Posted on July 16, 2010
A Dallas federal judge ordered former Cowboys linebacker Eugene Lockhart, who is awaiting trial on mortgage fraud charges, released from custody Friday evening after he was arrested earlier in the day for failing a court-ordered drug test. After his arrest in September 2009 on the mortgage fraud charges, Lockhart was ordered to submit to drug testing [...

Former Marco businessman pleads to federal mortgage fraud charge

Posted on July 15, 2010
Douglas Lee Carter Sr. has been linked to $30 million in mortgage foreclosures since the 1980s A Marco Island businessman arrested on state and federal charges involving numerous shady mortgage deals was sentenced today to 2½ years in a federal prison for mortgage fraud...

Former Las Vegas Resident Pleads Guilty to Committing Mortgage Fraud in Nevada

Posted on July 14, 2010
LAS VEGAS?A former Las Vegas resident has pleaded guilty to conspiracy for his involvement in a Nevada mortgage fraud scheme involving straw buyers and falsified mortgage loan documents, announced Daniel G. Bogden, United States Attorney for the District of Nevada...

Overland Park, Missouri Man Sentenced for Loan Fraud Scheme

Posted on July 13, 2010
KANSAS CITY, MO?Beth Phillips, United States Attorney for the Western District of Missouri, announced today that an Overland Park, Kansas man has been sentenced in federal court for actions taken as part of a bank fraud scheme that forced several low-income homeowners into bankruptcy by saddling them with more debt than they were able to [...

Ex-Cowboy Lockhart arrested, freed as he awaits mortgage fraud trial

Posted on July 12, 2010
A Dallas federal judge ordered former Cowboys linebacker Eugene Lockhart, who is awaiting trial on mortgage fraud charges, released from custody Friday evening after he was arrested earlier in the day for failing a court-ordered drug test. After his arrest in September 2009 on the mortgage fraud charges, Lockhart was ordered to submit to drug testing [...

Minnesota Woman Pleads Guilty to Participating in $400,000 Mortgage Fraud Scheme

Posted on July 11, 2010
A 39-year-old woman from the central Minnesota city of Otsego pleaded guilty earlier today in federal court to participating in a mortgage fraud scheme that resulted in a $400,000 loss to several mortgage loan lenders. Appearing in St. Paul before United States District Court Judge Richard H...

Two Metro Denver Men Plead Guilty as Part of Mortgage Fraud Scheme

Posted on July 10, 2010
DENVER?Shawn R. Tieskotter, age 37, of Greenwood Village, Colorado, and Craig D. Patterson, age 30, of Littleton, Colorado, each pled guilty before U.S. District Court Judge Robert E. Blackburn Wednesday to one count of mail fraud related to a mortgage fraud scheme...

Arkansas Real Estate Developer Indicted for Fraud

Posted on July 09, 2010
LITTLE ROCK?Jane W. Duke, United States Attorney for the Eastern District of Arkansas, announced that a real estate developer, Roger Stephen Clary of Little Rock, was charged by the Grand Jury for the Eastern District of Arkansas with four counts of wire fraud and one count of mail fraud...

Managing Partner of Cobalt Capital Funding to 85 Years in Prison for Real Estate Fraud Scheme

Posted on July 08, 2010
PREET BHARARA, the United States Attorney for the Southern District of New York, announced that IRVING STITSKY, the former managing partner of Cobalt Capital Funding, LLC, and executive vice president of Cobalt Real Estate Services, LLC, was sentenced today to 85 years in prison on charges stemming from a fraud that raised more than $23 [...

Broward cops, FBI agent in mortgage fraud ring

Posted on July 07, 2010
A new mortgage fraud indictment stands out because it accuses seven current and former police officers and an FBI agent — along with lawyers and brokers — of conspiring to obtain millions in illegal loans. A network of Broward County attorneys, law enforcement officers and mortgage brokers are accused of falsifying a slew of documents to [...

CA attorney general warns of short-sale fraud

Posted on July 06, 2010
The California Attorney General has just joined the Department of Real Estate and the State Bar to issue a warning to homeowners about what they termed an ?alarming rise? in short sale fraud in California in a field ?rife with scam artists.? Homeowners and buyers, agents, and lenders should beware [...

Mortgage fraud arrests continue in South Florida

Posted on July 05, 2010
For the third time in two weeks, investigators announced 10 arrests in a multimillion-dollar mortgage fraud scheme in South Florida. Five others are being sought. Continuing a crackdown on mortgage fraud in South Florida, authorities said Friday they arrested 10 people who orchestrated a web of deceit by stealing identities, ripping off banks and cheating homeowners...

North Miami Woman Charged in Mortgage Fraud Scam

Posted on July 03, 2010
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida; John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office; Henry Gutierrez, Postal Inspector in Charge, U.S. Postal Inspection Service; J...

Missouri City Man Pleads Guilty in Multi-Million-Dollar Mortgage Fraud Scheme

Posted on July 02, 2010
HOUSTON?Albert Terrance Watkins has pleaded guilty to committing wire fraud arising from a $10 million mortgage fraud scheme, United States Attorney José Angel Moreno announced today. Watkins, 46, a Missouri City area resident, was indicted in June 2009 along with others of perpetrating a scheme to defraud lenders of mortgage loans by making false/fraudulent claims on [...

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