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Oct
11

Attorney General speaks on loan modification fraud

By Kathryn Bovard

This week, Catherine Cortez Masto, the Nevada Attorney General, spoke to Las Vegas real estate agents regarding an issue that the Attorney Generals office has been inundated with: Mortgage Fraud.

“…,In 2007, when the economy started going down, we saw loan foreclosures and fraud go up. The legislature passed a law in 2007 that allowed our office to criminally prosecute those people committing loan fraud. At that time, there were 40 companies engaging in these types of activities, in 2008 that number increased to 100, then 150 and now there are over 200 companies engaging in mortgage scam. In addition to mortgage fraud, we now have loan modification companies that are illegally taking your money up front, not performing the work and then skipping town.”

If you think you have had any experience with loan modification or mortgage fraud, please contact the Attorney Generals’ office, they need your information and help put a stop to illegal practices.

You can get free advice and consultation for your refinance, loan modification and foreclosure needs through several government agencies:

MakingHomeAffordable.gov

FinancialStability.gov

HopeNow.com

FHA Homeownership portal

If you are a Las Vegas area homeowner facing a possible foreclosure and wanting to learn more about your options – including a Las Vegas short sale, contact us today for a no obligation short sale consultation.

Kathryn Bovard is experienced with the often lengthy and stressful Las Vegas short sale process.   If you are contemplating a  Las Vegas short sale , she can assist and navigate you through the entire process. Call Kathryn direct at 702-348-7191 to schedule a short sale consultation today.

Related posts:

  1. Loan Modification Companies Must Have NV State License
  2. Beware of Foreclosure Rescue and Loan Modification Scams!
  3. Las Vegas Short Sale Time Frame

Comments

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    Regulation is always needed in such a greedy society.
    Great info.

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