Foreclosure Rescue Scams Reported from Around the Country
October 29, 2007 8:23pmForeclosure Rescue Scams Reported from Around the Country:
As Maryland Consumer Lawyers, we still run into lawyers, consumers, and even judges who are not aware of the nature or extent of the foreclosure rescue scam crisis. But this scam, which is destroying dreams and destabilizing property values, is neither new nor limited to Maryland. For the basic contours of the scam, see our previous blog post on this topic, http://www.hollandlawfirm.com/myblog.php?action=showposts&id=6 .
An excellent explanation of the Maryland foreclosure rescue scam industry, and the larger problem of subprime mortgages and foreclosures in Maryland, is a series called "Mortgage Meltdown" done by ABC 2 News Investigative Reporter Tisha Thompson. To view this outstanding series, click here: http://www.abc2news.com/content/investigators/mortgage-home.aspx and here: http://www.abc2news.com/content/investigators/mort-melt/story and here: http://www.abc2news.com/content/investigators/mort-melt/default.aspx
Listed below are some resources and reports from around the country, which show that this is a nationwide problem. Also, for current infomration on the Metropolitan Money Store Class Action in Maryland, click here: http://www.hollandlawfirm.com/myblog.php?action=showposts&id=4 .
If you are a Maryland consumer who is a victim of a foreclosure rescue scam, and you have questions, please feel free to contact us
General Studies:
Anatomy of a Foreclosure Rescue Scam: http://64.233.169.104/search?q=cache:Tgu_zWzBnFkJ:www.atg.wa.gov
CBS Evening News Investigative Report on Foreclosure Rescue Scams: http://www.cbsnews.com/stories/2007/07/13/cbsnews_investigates/main3057178.shtml
New York Times: "New Scheme Preys on Desparate Homeowners": http://query.nytimes.com/gst/fullpage.html?res=9D04EFDE153EF930A35754C0A9619C8B63
Business Week: "The Foreclosure 'Rescue' Racket":
http://www.businessweek.com/magazine/content/07_26/b4040041.htm
American Bar Association: "Mortgage Fraud Mess" -- http://www.abanet.org/journal/redesign/07fcle.html
National Consumer Law Center Report:
http://www.nclc.org/news/content/ForeclosureReportFinal.pdf
Maryland Consumer Rights Coalition Report:
http://www.mdconsumers.org/HOME_PRES_REPORT_FINAL.pdf
FBI Report:
http://www.fbi.gov/publications/fraud/mortgage_fraud06.htm
Bankrate.com:
http://www.bankrate.com/brm/news/mortgages/20050728a1.asp
Better Business Bureau:
http://www.bbb.org/alerts/article.asp?ID=593
CNN Money:
http://money.cnn.com/2007/08/22/real_estate/foreclosure_rescue_scams/index.htm
http://money.cnn.com/2006/12/07/pf/saving/toptips/index.htm
Forbes Magazine:
http://www.forbes.com/investoreducation/2007/06/11/...
Fraud Guides:
http://www.fraudguides.com/mortgage-foreclosure-rescue-scam.asp
Mortgage Fraud Blog:
http://www.mortgagefraudblog.com/
Washington Post:
http://www.washingtonpost.com/wp-dyn/content/article/...
Reports from Around the States:
ALASKA:
http://www.ktuu.com/Global/story.asp?S=6748278
ARIZONA:
http://www.azcentral.com/business/articles/1024biz-goddard1025-ON.html
http://www.kvoa.com/global/story.asp?s=6981229
CALIFORNIA:
http://www.santacruzsentinel.com/archive/2007/June/24/loca...
http://www.santaclaritarealestateblog.com/public/item/173598
DELAWARE:
http://www.delawareonline.com/apps/pbcs.dll/article?AID=...
http://www.delmarvanow.com/apps/pbcs.dll/article?AID=...
FLORIDA:
http://www.hillsboroughcounty.org/consumerprotection/foreclosureawareness/foreclosurerescuescam.cfm
http://www.wftv.com/realestate/13804930/detail.html
IDAHO:
http://www.newwest.net/index.php/city/article/state_officials_wa...
MASSACHUSETTS:
http://www.boston.com/business/globe/articles/2007/07/03/new_...
http://www.boston.com/business/personalfinance/articles/2007/0...
http://www.boston.com/news/local/new_hampshire/articles/2007/0...
MARYLAND:
MICHIGAN:
http://www.michigan.gov/ag/0,1607,7-164--134533--,00.html
MINNESOTA:
http://articles.citypages.com/2004-07-21/news/stripped-clean/
http://www.twincities.com/ci_7063518?source=most_emailed
http://news.minnesota.publicradio.org/features/2003/10/22_ols..
MISSOURI:
http://www.mercurynews.com/realestate/ci_7020596
NEW HAMPSHIRE:
http://www.nashuatelegraph.com/apps/pbcs.dll/article?AID=/20070930/OPINION04/309300077
http://www.wcsh6.com/news/article.aspx?storyid=63793
NEW YORK:
http://www.recordonline.com/apps/pbcs.dll/article?AID=/20071002/NEWS/710020316
http://www.northcountrygazette.org/news/2007/09/07/foreclosure_scam/
http://www.upstatehouse.com/rss-display.php?id=inmannews63352
http://www.sbls.org/pdf/foreclosure_rescue.pdf
NORTH CAROLINA:
http://www.journalnow.com/servlet/Satellite?pagename=WSJ%2FMGArticle%2FWSJ
OREGON:
http://www.oregonlive.com/business/oregonian/index.ssf?/base/bu...
http://www.consumeraffairs.com/news04/2005/tx_rescue.html
TEXAS:
http://www.elpasotimes.com/business/ci_7272606
http://www.chron.com/disp/story.mpl/metropolitan/5243600.html
http://www.newschannel5.tv/2007/10/25/981550/
http://www.cameronherald.com/articles/2007/10/25/news/opinion/column03.txt
http://www.mysanantonio.com/business/stories/MYSA091507.02D.MortgageScam.d4a64965.html
http://www.click2houston.com/news/14118254/detail.html
WASHINGTON:
www.komotv.com/news/consumer/9712217.html
WISCONSIN: