New Legal News

A lawyer has been arrested along with 17 other people in a 42 million dollar scam. Officials think this is the start of what they expect to be a huge wave of mortgage fraud.

The US Attorney has let it be known  that their will be a task force created to crack down on this mortgage fraud. They expect to root it out in the next few months.

Florida is considered to be the mortgage fraud national capital. At the moment more than 50 such investigations are in progress.

The 42 million dollar scam was committed by an owner of a title company, a mortgage broker,and a bank loan officer who conspired to get funding. They used fake documents to do so. They received amounts higher than the purchase was to be and paid themselves fees.

Mortgage fraud is common and it involves professional people at every stage of the

More bad news regarding the country’s home market that will issue calls for champions to come forth and force a regulatory reform  and new legislation to prevent this market disaster in the future.The most recent data demonstrates that mortgages foreclosures went through the roof in August.

Foreclosure numbers were more than twice what they were in August 2006 and 36% more than in July of 07. The national total of nearly a quarter of a million filings of foreclosure in August 2007. Thats a 155% from the  113,300 filings the August of 2006. In July 2007, 179,599 foreclosures were filed.

The foreclosures are highest in the states of Nevada, Florida, and California. In Florida, 1 in 243 households was foreclosed. In Nevada, its 1 in 165 households, and in California it 1 in 224 households. These numbers stagger my thoughts! Something must be done. The national average was one in 510 households were being foreclosed.

Experts say this is just the tip of the iceberg.

Insurance companies are well hated for a reason. Sentry insurance is suing an 81 year old woman becuz the insurance company had to pay workers comp to a parcel delivery worker becuz that worker fall on some ice located on the the seniors property.

Insurance companies are largely frowned at because of some practices that, while legal, are considered immoral. Things like lying, or making people feel bullied, or denying katrina victims claims. theres been instances where the insurance company has compensated doctors to dispute claims as well.

Sentry Insurance profitted 245.5 million in the year 2005, and is now suing a senior citizen becuz it paid on one workers worker compensation.
Insurance companies want you to pay them, but they want to never process a claim. Oddly, they have lawyers, but they always advise you not to get one… Definately get one!