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352 University Ave SW, Suite W112

Atlanta, GA 30310

404.432.1029

nia@areawestrealty.com

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  2. mortgage fraud

mortgage fraud

…your zip code please..?

Why did the store clerk ask me for this?  More importantly, why was I embarrassed?  I don’t like providing stores with ANY of my information, however in 2006, I HATED to give out my zip code. Among the comments received, “Whoa isn’t that the top foreclosure location?”   Then I would get defensive and explain the mortgage fraud […]

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FBI Renews Push to End Mortgage Fraud

The FBI says it will renew its efforts to end mortgage fraud. A spokesman said last week that the FBI anticipates arresting hundreds in crackdowns scheduled over the coming weeks. Offenses agents expect to find range from schemes that encourage borrowers to lie about their incomes to scams that rely on falsifying foreclosure information. The […]

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Community Update..

Space ATL  Restaurant, along the Beltline (White St/Hopkins) in Historic West End, hosted a fabulous  “soft” opening yesterday!  They are now officially open Lunch- 2AM – Check them out and let’s make our local businesses dynamic!!   This restaurant/lounge is destined to be our neighborhood hangout with such late hours. The Bartender, Nick, *HOT* – has his own […]

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Mortgage Fraud Rises as Sales Decline

Mortgage fraud increased 26 percent in 2008 compared to 2007, according to a study released Monday by the Mortgage Asset Research Institute. The increase reflects fewer loans. About $1.4 trillion in home loans were made in 2008, down a third from the previous year. More than 60 percent of the mortgage fraud cases last year […]

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Fraud Grows, Despite More Consumer Protection

Real estate fraud continues to grow, despite aggressive responses from federal regulators. The Federal Bureau of Investigations has reported that incidents of mortgage fraud have tripled over the last two years to 21,994, with the value of the crimes quadrupling to $1.01 billion. The crimes range from individuals lying on their applications to complex rings […]

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McCain, Obama Solidify Stands on Housing

Both presidential candidates have announced plans to help voters deal with the challenging housing economy. Here are their ideas as posted on their election websites: Sen. John McCain: Direct assistance to homeowners. No taxpayer money should go to real estate speculators who made bad decisions about investments. Reform financial and lending systems to prevent a […]

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Atlanta Pro Busted for Mortgage Fraud

An Atlanta real estate practitioner was sentenced Friday to 14 years in federal prison for mortgage fraud. Joseph Sterling Jetton, the 61-year-old owner of Precision Construction Co. in Woodstock, Ga., was ordered to pay $11.2 million in restitution on charges of conspiracy, bank fraud, wire fraud, and money laundering. According to the Department of Justice, […]

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Where Mortgage Fraud is Prevalent

Mortgage fraud cases are up all over the country, with FBI investigations rising to 1,380 from 818 in fiscal 2006. Many perpetrators were home buyers who inflated their incomes or credit status to obtain mortgages; while other schemes involved teams of real estate brokers, appraisers, and “straw buyers” who never had any intention of living […]

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Mortgage Fraud Crackdown Continues

The FBI was instrumental in 206 convictions in 2007 for real estate securities and commodities fraud. According to an FBI report released Thursday, the 1,204 mortgage fraud cases pursued in 2007 resulted in 321 indictments and court orders for $595.9 million in restitution. The FBI, working in conjunction with the Securities and Exchange Commission, is […]

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