Lawsuits
Katherine M. Porter, a University of Iowa law professor, examined 1,700 recent Chapter 13 bankruptcy cases filed in 24 states, including Georgia. She discovered that mortgage lenders regularly fail to file documents required by law and that fees and charges billed to homeowners often are unreasonable.
Federal officials announced the indictment of 19 people today in what they call the largest “foreclosure rescue” scam in the nation, one that allegedly took in more than $12 million and affected more than 100 homes. Officials with the FBI, IRS and the U.S. attorney’s office say the defendants ran an “equity stripping” scam targeting people on the brink of foreclosure.
As proof that one cannot do it alone – without help – we must write about one man’s focus and dedication after he was slighted by his mortgage company. Facing foreclosure in Connecticut this man takes the time to research the law and he keeps us up to date. I’m certain we are not the only ones on his mailing list. The home owner met with the chief state attorney’s office for the state of Connecticut, the Attorney Generals Office, the US Attorney’s Office, OCC, FTC and Senator Dodd’s Office, and the Attorney General’s Office for the State of Florida. Violations were found.
A former analyst in Goldman Sachs Group Inc.’s fixed-income division was sentenced to “time served” Friday after pleading guilty to criminal charges last year in a series of insider-trading schemes that prosecutors said netted more than $6 million in illicit profits. At a hearing Friday, U.S. District Judge Victor Marrero sentenced David Pajcin, 30, to time served to be followed by three years supervised release. He also ordered Pajcin to forfeit $6.7 million and to pay a $10,000. Judge Marerro noted that Pajcin has been in custody 26 months since his November 2005 arrest.