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Real estate expert Barbara Corcoran appeared on The Today Show this morning to explain the top foreclosure avoidance scams to look out for. If you know anyone struggling with mortgage payments ...
The scheme preys on desperate homeowners whose mortgages are in default by offering to prevent the foreclosure. [1] [2] There are various ways in which foreclosure rescue schemes work, causing different types of harm to the homeowners, but all ultimately with the likely end result of the owner being forced out of their home and losing even more ...
American Homeowner Preservation (also known as AHP) is an online real estate crowdfunding platform which purchases pools of nonperforming loans from banks and other lenders and then offers borrowers who want to stay in their homes debt restructuring options with reduced payments and discounted principal balances.
By DON THOMPSON SACRAMENTO, Calif. (AP) - One of two brothers convicted of leading a nationwide foreclosure scam has been sentenced to 35 years in federal prison for stealing titles to more than ...
Judicial foreclosure: With a judicial foreclosure, the lender files a lawsuit and the borrower is notified of the non-payment. The homeowner has 30 days to make up the missed payments, otherwise ...
Subprime loans targeted at vulnerable and unsophisticated homeowners often lead to foreclosure, and those victims more often fall to equity stripping scams. [2] Additionally, some do consider equity stripping, in essence, a form of predatory lending since the scam works essentially like a high-cost and risky refinancing.
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Fannie Mae's foreclosure prevention efforts have generally been made available to a borrower only after a delinquency occurs. Under Fannie Mae's new guidance, loan servicers can use foreclosure prevention tools to assist distressed borrowers when a borrower demonstrates the need. As noted above, these guidelines apply to borrowers who are still ...