Mortgage Fraud

Bank of America Offers to Modify 100K Countrywide Mortgages June 25, 2009 — Bank of America Corp. has offered to modify over 100,000 Countrywide sourced home loans over a four-month period. This is double the amount required under the settlement between California and other states against Countrywide Financial Corp. for accusations of predatory lending. Bank [...]

Foreclosure Rescue Scams July 21, 2008 — Foreclosure rescue scams are a form of predatory lending that became increasingly common during the mortgage bubble. Persons describing themselves as “lenders” took advantage of fraud and corruption in the mortgage industry to steal equity from unwary homeowners. These scams take a variety of forms, but the experience [...]

Plant Insulation Company Settles Asbestos Case San Francisco, CA — July 17, 2008 — On the day before closing arguments were scheduled to commence, defendant Plant Insulation Company elected to pay the plaintiffs’ settlement demand and resolve the asbestos case, Kathleen Schiebold, et al. v. Plant Insulation Company, et al. The defendant more than quadrupled [...]

California Mortgage Fraud Ring Arrested for Predatory Lending Practices SAN BERNARDINO, CA — April 4, 2008 — Prosecutors cracked down on a California mortgage fraud ring on March 18. The fraud ring, allegedly led by 25-year old real estate agent Eric Pony, reportedly took advantage of thousands of homebuyers in Southern California. Many of the [...]