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Short Sale Fraud Fears Grow as HAFA Gets Set to Pop

LOS ANGELES – Attorney General Edmund G. Brown Jr. today joined the California Department of Real Estate and the State Bar of California to warn homeowners about an alarming rise in short sale fraud across California in a field "rife with scam artists". A short sale is an arrangement in which a homeowner sells his or her home for less than the outstanding mortgage, with the consent of.

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Short Sale Fraud Fears Grow as HAFA Gets Set to Pop HAFA and HAMP (edit/delete). The Treasury Department is now offering a new program supporting the banks on doing short sales with the home affordable foreclosure alternatives Program (HAFA).This is the latest program under the Home Affordable Modification Program (HAMP), designed to offer.

Is a short sale to a relative considered fraud? asked by Brian, Arcadia, CA Sun Dec 14, 2008. My inlaws, caught up with the real state boom, bought a house two years ago they could not afford with a ARM loan. Now they can’t afford the payments and have asked my wife and I if we would like to buy the house on a short sale.

New GSE appraisal database to tighten scrutiny on mortgage lenders Moody’s: Home Loan Servicing Solutions sale bolsters Ocwen’s future Ocwen Donates $200K to Foreclosure Prevention Commonly Used Foreclosure Forms On this page you can find forms that you might need to handle your own foreclosure case. For more detailed information, see Can I Save My Home from Foreclosure? and Home Mortgage Foreclosures. · The mortgage giants freddie mac and Fannie Mae, which own or guarantee nearly half of all mortgages, are trying to stem that tide. Last week, they said they would pay more to the mortgage servicing companies that they hire to modify delinquent loans and avoid foreclosures.Housing recovery evolves mortgage modification landscape Jobless claims increase by 17,000 filings The number of Americans filing for unemployment benefits fell last week as the economy’s continued improvement tempered dismissals. Jobless claims decreased by 6,000. timing of the first.If foreclosures continue dropping it would be one of the strongest signals yet the market is on the path to recovery. Foreclosure filings – including mortgage. groups and housing experts say the.

Mortgage fraud rising most in low-downpayment loans Short Sale Fraud Fears Grow as HAFA Gets Set to Pop A LOOMING DOUBLE BUBBLE – PART 3. Posted by Dwight Mathews on March 16, 2010.. Short Sale Fraud Fears Grow as HAFA Gets Set to Pop ( Share this: Share Like this: Like.

Agree to a deed-in-lieu of foreclosure, also know as "Cash for Keys" or short sale, where home is sold for less than the outstanding debt.The program comes after more than two years of loan modifications and foreclosure moratoriums that have produced mix results, with many homeowners ineligible or defaulting again.

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The US Treasury Department is taking the necessary steps to prevent short sale fraud under the. is Buffer Enough Against Short Sale Fraud:. Sale Fraud Fears Grow as HAFA Gets Set to Pop .

How Jefferies’ compliance failed in mortgage fraud case Bondholders hope Countrywide settlement will pay up 7.6 Million Borrowers Underwater on Mortgages: Study An additional 2.4 million borrowers had less than five percent equity, referred to as near-negative equity, in the second quarter. Together, negative equity and near-negative equity mortgages, or what is commonly known as an underwater mortgage, accounted for 27.5 percent of all residential properties with a mortgage nationwide.At long last, the two have settled on the issue of $3 billion of disintegrating loans on which MBIA was forced to pay, and the deal comes not. hoping against hope that settlement monies from the.