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 [...]

Credit repair scams have always been here, but in a weak economy scams of all types seem to get worse. Don’t fall for the most recent credit repair scams. Learn our tips on how to spot unscrupulous credit repair companies. Credit Repair Scam Red Flags Here are a few red flags that can warn you [...]

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. [...]

Mortgage yield spread premium is responsible for up to two thirds of the revenue earned on every mortgage. Yet most Americans have no knowledge of mortgage yield spread premium or how to avoid it. No one in the mortgage and banking industries wants you to find out about mortgage yield spread premium because it would [...]

There is a new FTC study being quoted by bloggers all over the web and reported in major newspapers like the LA Times and Washington Post by real estate columnist Kenneth R. Harney. The study (if true) makes some amazingly ominous claims: · Nearly nine out of 10 borrowers could not identify the upfront total [...]

Secret Side Agreements For Repairs Is Mortgage Fraud! Here’s how it happens… Buyer contracts with Seller for a $200,000 home with the Seller paying all the closing costs which equates to 3% or $6,000….the current FNMA maximum. During the inspection, a faulty furnace is discovered. Let’s assume for this example it’s a working furnace, so [...]