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Recognizing Scams
Scams................. Avoiding Scams by Investors
Scams................. Avoiding Scams by Consultants -
U.S. Department of Justice
Scams..................
Michigan Appellate Court Sends Warning to
'Foreclosure Consultants'
Scams.................. Advance-Fee Loans - Federal Trade
Commission
Scams.................. Associated Press article in The Boston
Globe Nov. 22, 2006
Scams.................. FBI Press Release - Stop Foreclosure Loan
Scam July 20, 2006
Scams............
..... Platinum Investment Group fraud -
a "foreclosure rescue" firm
You
decide
Ocwen
Mortgage
Did you lose
your home to a foreclosure assistance scam?
Scam victims are fighting back across the
country by suing the scam artists and using what
experienced real estate lawyers call, the "equitable
mortgage" doctrine to void the title transfer to the
"foreclosure rescue" operator.
This legal doctrine basically says that, even though you
"sell" your home to an investor and you
simultaneously rent the property back from the investor,
a court may look at the entire transaction as a
"disguised loan" (and potentially, a disguised
usurious loan) structured as a sale leaseback with a
"buy back" option designed by the
"rescue" operator to avoid usury laws and to
avoid the hassle of having to foreclose on the homeowner
(thereby impermissibly stripping him/her of their
equitable redemption rights).
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