Mortgage Fraud
Table of Contents

Mortgage fraud is robbery without a gun. Like many other types of fraud, it is the crime that keeps taking because it has a negative ripple effect. Often, mortgage fraud victims are too afraid or lack the knowledge to know that what was done to them was not their fault.

Mortgage Meltdown from Fraud Margaret Wragg thought she was getting her dream home. But what she got was a heartache from trying to keep up with the dream that she never could have afforded in the first place.

Explanation of TILA A good source of what is TILA and how to use in lawsuit if you have been frauded by lender under TILA law.

Commentary on Home Mortgage Fraud A commentary about the reality of home loans and why people are being duped so easily.

What caused the Mortgage Meltdown Subprime loan fallout. Although these types of loans became known as “garbage loans” by many in the industry, they were popular among consumers. The loans have been 50 percent of the mortgages during the past two years. Failure was eminent.

Predatory Lenders Don't be a victim of loan fraud. WJFA provides the common scams used by predatory lenders. A predatory lender is one that wants to dupe you into losing your home to them, or, box you into a loan of unreasonable terms, so that you are paying and getting nowhere while they get rich off your misery.

His Weapon of Choice was Mortgage Fraud Convicted con artist, Brent Barber, shows how the system flaws that allowed him to steal so many homes. Mortgage fraud schemes was one of weapons of choice.

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Foreclosures

Foreclosures are at an all time high. This sections has many pages on options you have to save your home, and how to protect yourself from scam artists.

Real Estate Fraud

Real Estate Crimes are the leading crime in the nation. The crimes include mortgage fraud, foreclosure bailout loans, property flipping, bogus appraisals, forged grants and more.

Thwart Illegal Foreclosure

Strategy for putting everyone on notice that the ownership of your home is in question, is a good way to protect your interests while you deal with the crime.

Rebuild Your Life

It is fraud victims' lament, severely damaged credit rating that keeping you from a good job, cheap auto insurance, and low interest rate.

WJFA has an 11-step program to help you get your life back.

How Mortgage Meltdown has Impacted the Economy

The volatility of the financial markets this summer has stemmed from weaknesses within the mortgage industry and other risky loan operations.

Economics correspondent Paul Solman explains what is behind the subprime market and how it has impacted the financial world.

Activists Fighting Mortgage Fraud

Alicia and Anne noticed something was wrong when homes in their neighborhood sold for $200,000 and then hours later sell again for $350,000.

They were assessed higher property taxes because of all the property flipping that was going on unchecked. The women took action and formed a statewide organization to battle mortgage fraud.

400 Wall Street Tycoons Arrested in Mortgage Fraud

FBI arrested Bears and Stearns Executives, Ralph Cioffi and Matthew Tannin.

Then hours later, 400 more people were arrested from a three-month sting operation relating to cases of mortgage fraud that have collectively cost the fraud victims an estimated $1 billion.

What is Predatory Lending

A column in Realty Times discussing the problem of predatory lending, and the industry's struggle to obtain a legal definition to separate it from legitimate lenders.

Common Loan Scams

WJFA provides a hit list of the common tactics used by predatory lenders to get your money and your home.

States' AGs Investigating Ameriquest's Methods

High pressure sales pitches, bait-and-switch loan terms, very high fees -- have attorney generals in many states investigating Ameriquest.

FBI: Mortgage Fraud Rampant

The FBI says it's overwhelmed with complaints about mortgage fraud. They have begun going after and fining some predatory lenders on charges of mortgage servicing fraud.

North Carolina Cracks Down on Mortgage Fraud

The North Carolina commission has taken the licenses of mortgage loan officers who have engaged in fraud.

Most recently, the commission took the license of a Fayetteville loan officer and fined her $50,000 for mortgage fraud and identity theft.

The office is referring cases to law enforcement for prosecution and this year will submit legislation to the General Assembly to address mortgage fraud.

Ameriquest Boiler Room

Boiler rooms and predatory practices helped Ameriquest build an empire, according to former employees. A former employee exposes the working conditions at Ameriquest.

Ameriquest in Hot Seat

Attorney generals across the country are investigating Ameriquest for mortgage fraud.

Home Flipping Fraud

In a federal lawsuit, Margaret Wragg states she was the victim of fraud and racial discrimination in a classic case of what's known as house "flipping."

Her opponents say that she was treated fairly and is blaming them for her mistakes, including taking a mortgage she could not afford.

It is, in short, a case study in what many housing experts say is an increase in complaints of housing fraud, abusive and predatory lending practices, phony appraisals and even outright thefts of deeds, when home prices soared and interest rates fell.

You're Not Alone

" No one understands what I am going through." ---- "I am financially ruined from the mortgage fraud."

You're not alone. It is common to feel angry about the injustice, feel betrayed by the system, and be depressed about being victimized. WJFA is operated by volunteer fraud victims denied justice. We understand how you feel. We're here if you need to talk or need support.