Feds Charge Couple for $35M Foreclosure Scam
Considered to be one of the biggest foreclosure scam in the history of Maryland, a couple was charged by federal authorities for masterminding a mortgage rescue operation, reportedly worth $35 million.
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Foreclosures Increase in Military Communities Nationwide
New statistics show that areas of the country near military bases or that house a significant population of military families are seeing very high rates of foreclosure. The Joint Economic Committee released a report today detailing that the average foreclosure rate around the 24 biggest military bases in the country is significantly higher than the national average for the nation, which worries many legislators and military officials. Usually the Veteran Affairs, or VA, department seeks to provide military families with low cost loans, but some are speculating that many families may have been lured by the draw of sub-prime loans with very low initial costs in recent years and foregone the VA department mortgage loans completely.
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July 3rd, 2008 at 3:30 am
[…] Feds Charge Couple for $35M Foreclosure Scam Considered to be one of the biggest foreclosure scam in the history of Maryland, a couple was charged by federal authorities for masterminding a mortgage rescue operation, reportedly worth $35 million. MoneyandShopping - Up To $30.48 Per Sale. Two membership levels. Ongoing customer support from real mystery shoppers makes […] […]