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FBI: Mortgage Fraud Is Rampant in U.S.
Fraud is running rampant in the nation's mortgage industry, with nearly three times as many reports of suspicious activity so far this year compared with 2001, a top FBI official said Friday.
"It has the potential to be an epidemic," said Chris Swecker, FBI assistant director for criminal investigations.
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Category: FRAUD ALERTS
Posted on September 18, 2004 at 11:13 AM | Permalink
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Comments
I was robbed from the beginning with homecomming. I have paid them thousands, yet not one dollar has been placed for principal.
I need to sell my home, yet they over quoted the amount my home is worth. I can't sell my home and get what I need to pay them off. I also was charged about 3-4 thousand in closing costs for a 15,000 loan. I am paying interest on that money too.
Stay away from this loan company.....
Posted by: roy at Aug 24, 2005 10:27:30 AM
My husband and I are having issues also. My husband lost his job last year which caused major financial strain. I contacted Homecommings to see if there are any programs available for hardships and they said no. Since then we have been 30 days late several times and are now currently 60 days behind. We have checked into selling, but there is a 6% of the loan amount prepay penalty, this leaves us upsidedown. I have spoken to homecommings to get pay off info and I was told that they charge $25 to fax it to us, so it was mailed. Also, they asked if we could make a payment, I told them that I could make a partial payment, and was told that they do NOT take partial payments. Then, after recieving the payoff info, it was stated in there that they were charging us $37 per day that we are late making a payment. (this is ontop of the regular late charges)
Also, they are charging is other fees which make no sense (property inspection, etc.)
We are now looking at bankruptcy, which I would imagine, they do not want us to do, but still no help from them.
We need help/advice desperatly!!!!!
Posted by: Kim at Aug 5, 2005 8:10:00 PM
I have Homecommings financial for a mortgage company and have been over charged hundreds of dollars each month and if I do not pay it my payments are marked as late and even though I have sent registered letters and been on the phone to them to get answers I never do.
They paid taxes on Another propert I own a farm which has nothing to do at all with the mortgaged property and added that amount on to my payments and even though sending letters and copies of paid taxes I sent my regular payments and they sent them back and within 3 months the property went into forclosure.
Posted by: Jeannie at Oct 22, 2004 4:45:00 AM
