Short sales are tough enough these days without this latest bit of news.
Just this week, Altera Real Estate’s Steve Thomas reported that the backlog of Orange County short sales is dizzying. About half of O.C. short sales — or sales in which a home is sold for less than is owed on the mortgage — [...]
Study: 1-in-53 short sales is fraudulent is a post from: Mortgage Insider
As part of a nationwide analysis, CoreLogic has identified parts of Orange County where their data reflects some mortgage fraud occurred between 2005 and 2009. These rates are compared to a national average of 0.55%:
City
Zip Code
O.C. Rank
Fraud Rate
Fullerton
92832
1
1.55%
Garden Grove
92843
2
1.53%
Santa Ana
92703
3
1.50%
Garden Grove
92841
4
1.35%
Santa Ana
92707
5
1.33%
Santa Ana
92704
6
1.10%
Midway City
92655
7
1.09%
Garden Grove
92844
8
1.04%
Ladera Ranch
92694
9
1.00%
La Palma
90623
10
0.94%
Anaheim
92805
11
0.93%
Santa Ana
92706
12
0.80%
Anaheim
92804
13
0.78%
Anaheim
92802
14
0.76%
Tustin
92780
15
0.75%
Rancho Santa Margarita
92688
16
0.68%
Anaheim
92806
17
0.66%
Orange
92868
18
0.66%
Orange
92867
19
0.64%
Anaheim
92801
20
0.63%
Santa Ana
92701
21
0.63%
Fullerton
92833
22
0.62%
Stanton
90680
23
0.62%
San Clemente
92673
24
0.61%
Orange
92866
25
0.60%
Buena Park
90621
26
0.58%
Lake Forest
92630
27
0.52%
Irvine
92606
28
0.51%
Garden Grove
92840
29
0.46%
Orange
92869
30
0.45%
Grand Total
31
0.45%
Costa Mesa
92626
32
0.45%
La Habra
90631
33
0.43%
Anaheim
92807
34
0.43%
Irvine
92602
35
0.43%
Placentia
92870
36
0.42%
Tustin
92782
37
0.39%
Laguna Niguel
92677
38
0.38%
Trabuco Canyon
92679
39
0.38%
Westminster
92683
40
0.36%
Irvine
92614
41
0.36%
Santa Ana
92705
42
0.34%
Dana [...]
Is your ZIP a loan-fraud ‘hot spot?’ is a post from: Mortgage Insider
Two operators of a foreclosure consulting firm operating in Orange County were each sentenced to a year in jail and ordered to repay dozens of homeowners who were swindled out of thousands of dollars in up-front fees for foreclosure-relief services that didn’t exist.
.
Marianne Curtis, 69, of Costa Mesa and Mary Alice Yraceburu, 46, of Riverdale, who [...]
Women jailed in loan mod swindle is a post from: Mortgage Insider
A Newport Coast man who committed mortgage fraud and filed for bankruptcy without telling authorities he bought 2 Ferraris and a Lamborghini was sentenced to 5 years in federal prison Monday.
Lorenzo Espinoza, 43, also was ordered to pay the Department of Housing and Urban Development restitution of more than $614,000.
In sentencing him, United States District Judge Stephen V. Wilson said Espinoza demonstrated “extreme [...]
“Extreme” greed gets Newport man 5 years is a post from: Mortgage Insider
A 49-year-old Westminster woman is charged with 157 felony counts.
$17.5M real estate fraud trial underway is a post from: Mortgage Insider
The Department of Real Estate is issuing warnings about fraudulent short sales.
It notes that in April, the federal government will offer financial incentives to provide short sales through the Home Affordable Foreclosure Alternatives program, with requirements including a shorter time frame to respond to offers, debt forgiveness, and government payments to homeowners (for moving) and lien [...]
Watch out for fraud in short sales is a post from: Mortgage Insider
California is tops in mortage fraud, national study says.
How many foreclosures show mortgage fraud? is a post from: Mortgage Insider
The United Law Group’s office on Campus Drive was shut down as the probe was carried out.
Irvine loan mod firm is raided is a post from: Mortgage Insider
A special prosecution team here has filed 29 cases so far.
$100 million reported lost in real estate fraud is a post from: Mortgage Insider
State officials: Lender audits won’t help a homeowner avoid a foreclosure.
Warning: Avoid new ‘phony’ repo relief pitch is a post from: Mortgage Insider
