Warning Signs for Recognizing Predatory Lending

Just like in any other profession not all mortgage brokers and lenders practice business fairly and ethically. Some of these mortgage brokers and lenders typically takes advantage of vulnerable groups, such as immigrants, people of color, seniors and people with disabilities who are applying to purchase homes or refinance home loans.

Consumers are protected by federal and state laws. Unfortunately, these abuses are Read more

August 29th, 2007 · Filed Under Mortgage - Loan Information, Real Estate & Mortgage FRAUD

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Foreclosure scams grow rampant in todays Real Estate market

Today’s real estate market has brought an abundance of inventory, many of which are being sold as short sales, sold at foreclosure auctions or sold as REO properties. However, this market has also brought to our doorsteps scam artists hoping to prey on the misinformed public.

Many homeowners facing foreclosure or a short sale are constantly receiving phone calls, emails and unsolicited mail offering a solution to their problems. Many of these scam artists are so advanced with their techniques that Read more

August 22nd, 2007 · Filed Under Foreclosure-Short Sale Information

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San Jose CA broker linked to FRAUD claims over $2 million

I was driving by the East Side of San Jose when I realized that the Century 21 Su Casa sign was already taken down (I may be a little behind noticing this) but the sign for the so called “Real Estate Academy” is still there. Could it be that Bic Pho’s Apprentice Enterprise is still in business? I don’t know. So I decided to look up for an update on Pho’s legal situation.

[Update 6/24/2008]: Major (former) Su Casa agent arrested in San Jose

On my previous post I gave you a brief explanation about what many people in San Jose, mainly in the East Side of San Jose, were talking about regarding the involvement of Bic Pho, Century 21 Su Casa, Mariposa Mortgage and other companies brokered by Bic Pho, in numerous alleged fraudulent real estate transactions.

According to the Mercury News article (also found at TheRealEstateBloggers.com), State regulators are currently trying to revoke Bic Pho’s license. Pho is in trouble over Read more

August 7th, 2007 · Filed Under Real Estate & Mortgage FRAUD

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Credit Repair Scam caught by Project Credit Despair

As I mentioned before on my other posting, there is a big business in credit repair but the majority of these credit repair companies claiming to do wonders don’t have true facts to stand on. The true fact is that they cannot legally change or delete accurate and true negative or derogatory information from your credit report.

Another true fact is that negative or derogatory information could be deleted legally from the credit report, but Read more

August 1st, 2007 · Filed Under Credit Repair scams

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