Why did banks give this little girl credit cards, home mortgages, and car and boat loans? And how did she keep getting them after defaulting time and time again? The answers should be a warning for every parent in America.
A man who dressed up as his mother in a bizarre real estate fraud that involved doctoring her death certificate and cashing her Social Security checks for six years after she died was sentenced Monday to more than 13 years behind bars.
A spin-off group from Occupy Wall Street, called Occupy Our Homes, has formed to reverse and stop foreclosures. Lately, the group has been using creative tactics to raise awareness about the banking practices that led to the housing bubble.
Taking a cue from more high-end swindlers, a slew of violent gangs, including the Bloods, the Crips and the Latin Kings are branching out into mortgage fraud, identity theft, check counterfeiting and bank fraud, among other crimes.
This week brought a bit of good news for some troubled homeowners in the form of two separate settlement activities. The FTC has begun mailing refund checks to 450,000 Countrywide customers, and Wells Fargo reached an $85 million settlement with the Fed that will provide relief to up to 10,000 customers.
