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Loan Modification

: Mortgage Lender Implode-o-Meter

Forty-one Indicted in Five Mortgage Fraud Cases

By Implode-Explode Heavy Industries

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"Forty-one defendants are facing federal charges relating to various mortgage fraud schemes in five separate cases made public today by federal law enforcement officials. In some of the schemes, the defendants were charged with falsely inflating the values of dilapidated homes in urban areas. Other schemes feature a twist where defendants were charged with deals involving million-dollar condominiums in a Chicago high-rise and sprawling homes in affluent suburbs. A total of 37 individuals and four businesses, including a title company that closed on allegedly fraudulent loans, are facing new federal charges relating to mortgage fraud in five separate cases in Chicago, federal law enforcement officials announced today."

Full post as published by Mortgage Lender Implode-o-Meter on June 24, 2009 (boomark / email).

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