Here’s the question: Rachael asks, “I am going through Echo Loans to do a loan modification. They advised me not to pay my mortgage this month. I am not behind on my mortgage, but owe more than my house is worth and my second mortgage is 12%. They advised me that my credit would be [...]

Here is the question… “Before closing on property I was selling for $519,000, the buyer requested that I increase the purchase price to $600,000 & give $36,000 in seller concessions because they were having some cash flow issues. Subsequently, they got a mortgage for $592,000. Since the increased purchase price was less than the appraised [...]

Adam Hochfelder, a New York real-estate investor, was indicted for allegedly defrauding “more than $17 million from a panoply of banks and individuals” according to the Wall Street Journal today bringing mortgage fraud to new heights. Hochfelder, a sort of “wonderboy” in the 1990s buying coveted investment properties, faces at least a 25 year sentence. [...]

The Texas Attorney General arrested four this week who brazenly continued their mortgage fraud operation while out on bail. Authorities re-arrested the mortgage fraud gang adding additional charges to earlier indictments. Texas Mortgage Fraud Continues The Texas Attorney General released a press release announcing new charges for a previously indicted mortgage fraud gang saying, “The [...]