There was an advertisement recently showing a thief breaking into a home just as a woman was driving past. Of course, she immediately called the police who then came and arrested the thief before he could get away with the stolen goods. The purpose of the advertisement was, of course, to promote awareness in neighborhoods…
The one that bothers me a lot is the practice of paying referral fees to unlicensed people (friends, co-workers, family members, etc). In most cases, this practice is illegal and for good reason. As you know, buying a home and obtaining a mortgage is complicated and many consumers rely on real estate agents and mortgage…
A 2009 California law protects homeowners forbidding any person or business to charge an upfront fee for loan modification services was breached. The five are charged with at least seven counts of felony grand theft and other charges are: Jacob J. Cunningham, 24, of Irvine Justin D. Koelle, 23, of Costa Mesa Andrew M. Phalen,…
It might not always be easy to spot mortgage scams. However, it can help to know some of the warning signs to look out for. Below are six red flags that might indicate you could be dealing with home loan fraud or mortgage scam: A company tries to pressure you to sign over the deed to…
Current National Association of Mortgage Brokers (namb.org) President Michael D’Alonzo and his company, Creative Mortgage signed a consent agreement with the Commonwealth of Pennsylvania for violations of the Real Estate Settlement Procedures Act and the Pennsylvania Mortgage Licensing Act. The state alleged that on 18 occasions Creative Mortgage, Michael D’Alonzo owned company, a non FHA-approved mortgage broker, submitted FHA insured mortgage…