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  2. Fraud

Fraud

The Fed: Coming to a Theater Near You

The Federal Reserve is taking over the big screen, showing ads at movie theaters that warn against foreclosure fraud. The spots will run in 14 cities with high-foreclosure rates and an abundance of financial scam artists who often result. The ads last 30 seconds and feature photos of individuals and families. They open with the […]

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Foreclosure Rescue Scams on the Rise

Foreclosure rescue scams, in which con artists prey on struggling home owners, are becoming more of a problem, according to the Federal Trade Commission.The FTC has already filed three major foreclosure rescue cases this year, compared with zero a year ago; and one case involves thousands of victims and property worth millions of dollars, according […]

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Squatters Get Comfy in Abandoned Houses

Squatters are moving into foreclosed homes and posing as tenants so they can live in comfort until the bank either goes through the eviction process or bribes them to leave. In a process known as “cash for key,” the squatters call the bank and boldly ask for money in order to move. “There are people […]

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Real Estate News:Immigrants Often Targets of Subprime Scams

Immigrants Often Targets of Subprime Scams Immigrants have long been victims of fraud, but the subprime mortgage boom has provided a particularly popular avenue for unethical lenders to take advantage of immigrants. Housing counselors say they have seen predatory lending to immigrants across the U.S. Among the vulnerable groups: Latinos throughout California, Caribbean and African […]

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Ellenwood man guilty in Atlanta mortgage fraud case

Atlanta Business Chronicle A Georgia man pleaded guilty late Wednesday to running a $15 million mortgage fraud ring in Atlanta’s West End. Kevin G. Wiggins, 41, of Ellenwood, Ga., pleaded guilty in federal district court to charges related to a large-scale mortgage fraud scheme that targeted West End neighborhoods in Atlanta in 2001 and 2002. […]

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