Foreclosure Filings Nearly Double Would you like a side of fries with your negatively amortizing home loan? Anyone who meets the payment amount, cash investment, and credit requirement can apply for a loan. The payment option ARM is another type of negative amortization mortgage which allows people to choose from different payment options. borrowers can opt for a minimum, interest only, 15-, 40-, or 30- year fully amortizing payment.U.S. foreclosure filings more than double in second quarter (11:47 a.m.). with one in every 25 homes in the town receiving a foreclosure filing. That’s nearly seven times the national average.

Mortgage Loan Fraud: Loan Modification and Foreclosure Rescue Scams – Evolving Trends and Patterns in Bank Secrecy Act Reporting (June 2010) PDF Only Mortgage Loan Fraud update: suspicious activity report Filings from July 1-September 30, 2009 (February 2010) PDF Only

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Avoiding Mortgage Scams Mortgage fraud and scams hurt lending institutions, real estate professionals, and significant numbers of homeowners in Washington each year. If you’re currently looking at buying a home, refinancing, or are facing foreclosure, be on guard so you don’t become a victim of a mortgage scam.

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Beware of Foreclosure Rescue Real Estate Scams Sharks in Sheep’s Clothing When ever there is massive confusion and emotional turmoil there will be people trying to take advantage of the situation.

Foreclosure rescue and mortgage modification scams are a growing problem that could cost you thousands of dollars – or even your home. Scammers often make promises that they can’t keep, such as guaranteeing to "save" your home or lower your mortgage, usually for a fee, often pretending that they have direct contact with your mortgage servicer.

Many Florida homeowners facing foreclosure have become victims of foreclosure scams. The Florida Foreclosure Rescue Fraud Prevention Act was passed to safeguard Florida families in foreclosure. Here is a summary of tactics that are illegal under the act and ways to identify and avoid foreclosure rescue scams.

“Rescue” scams come in many disguises. Some foreclosure-related scams to beware of: The scam artist (sometimes posing as an attorney) tells you that he/she can negotiate a deal with your lender to save your home – if you pay a fee. Once you pay, the scam artist takes off with your money.

Bait-and-Switch. In a bait-and-switch scam, con artists give you papers they claim you need to sign to get another loan to make your mortgage current. But buried in the stack is a document that surrenders the title to your house to the scammers in exchange for a "rescue" loan.

Avoiding Mortgage Modification Scams and Foreclosure Rescue Scams Homeowners struggling to make payments on their mortgages and other debts should beware of con artists and scams that promise to save their homes and eliminate their debts.

BUYER BEWARE: Fraud Cannot Be Pursued in a Florida real estate contract The attorneys at WeidnerLaw have a vast range of experience in contract and business disputes, including a particular focus on Florida real estate transactions.