Items Tagged with 'foreclosure scam'

ARTICLES

  • New York foreclosure firm accused of cheating Fannie Mae out of millions

    Rosicki, Rosicki & Associates charged with “systemically overbilling” expenses
    A New York foreclosure law firm allegedly used its affiliated companies to “systemically” overcharge for foreclosure-related services and defraud Fannie Mae out of “millions of dollars.” According to the U.S. Attorney’s Office, Rosicki, Rosicki & Associates engaged in a scheme with its wholly owned affiliates, Enterprise Process Service and Paramount Land, to markup foreclosure services by as much as 750% knowing that Fannie Mae would pay the bills.
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  • Brazen leader of massive mortgage modification scheme gets 20 years

    Two co-conspirators sentenced to combined 19 years
    Three California residents will spend a combined 39 years in prison after being convicted for their roles in a nationwide, multi-year mortgage modification fraud scheme that scammed thousands of distressed borrowers out of at least $11 million. The scheme’s ringleader used much of the money taken from distressed borrowers to lead an extravagant lifestyle, which included purchasing expensive vehicles, a racehorse, and producing a reality TV show.
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  • Feds indict "mastermind" of foreclosure scam that bilked $7 million from struggling borrowers

    Charged with 11 counts relating to bankruptcy fraud
    A California man stands accused of leading a foreclosure-avoidance scam that preyed on struggling borrowers to the tune of $7 million in ill-gotten gains. Per the details of his indictment, Michael "Mickey" Henschel's company didn't operate by legitimate means. Instead, Henschel is the alleged mastermind of a foreclosure scam.
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  • Georgia real estate investor pleads guilty to bid rigging in foreclosure auctions

    Feds snare ninth real estate investor for auction fraud in Georgia
    A Georgia real estate investor pleaded guilty for conspiring to rig bids at real estate foreclosure auctions in Fulton and DeKalb counties in Georgia. According to an announcement from the Department of Justice, Morris Podber admitted that he conspired with other real estate investors to not bid against each other in public foreclosure auctions on certain properties.
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  • CFPB secures $27.7 million judgment against foreclosure relief scammers

    Problem is, the scammers have only $655,737
    The Consumer Financial Protection Bureau and the State of Florida announced Friday that a federal judge granted final judgment against a Florida law firm and its associated companies, requiring the companies to pay $27.7 million for their part in a massive foreclosure relief scam that defrauded approximately 2,000 consumers.
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