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The Mouse and the Mouse Trap-Mortgage Scams

Dear mouse,
mouse trap at cathcath

My dear mouse, you are known to be creative and a resourceful animal. When men introduced new mouse traps you also come up with strategies how to avoid being caught so that when one of my tenants brought home one mouse in her tote bag from her employer’s house (she was a nanny and she was complaining of rats in that house) which caused an infestation in the whole building,
among the solutions used aside from a flypaper were these small gadgets that produced sound waves that could drive away your fellow rodents. After a few days, I could see mice merrily running with ear muffs or were they ear phones of their Ipods ?

That’s it, I can tolerate one mouse only in my house, so got to call pest control. From then on, anyone who entered my abode will have to pass thru a screener if there is a stowaway mouse or roach in their bags.

But this is not about you mouse. This is about people who like mice, can change tactics to make opportunities out of crisis or out of threats.

This is about mortgage scams which are proliferating victimizing people whose house are being foreclosed or are being put up for sale.

Angela Carter’s family has lived for 46 years in the same small two-story home in Chicago, perhaps a 15-minute ride from Barack Obama’s adopted Hyde Park neighborhood. But today a piece of paper says someone else owns the property, and a judge will soon decide if Carter and her mom get to stay in her home.

The reason Carter, 55, is facing eviction, she says, is that she fell for a high-stakes scam that’s sweeping the nation, preying on the 1 in 11 consumers who are either behind on their mortgage payments or already in foreclosure.

Interviews with legal aid offices and law enforcement officials around the nation indicate the problem of so-called “foreclosure rescue scams” has spread like wildfire, neatly paralleling the downturn in the mortgage market.

Read more here and be warned.

In the same article, I was shocked when i read about this;

Felons as mortgage brokers
When the housing market began to teeter on the edge of a meltdown, state and federal agencies were unprepared to prevent an avalanche of scams. In Florida, which some have called the mortgage fraud capital of the country, a recent Miami Herald investigation found that 10,000 convicted felons had been granted mortgage broker licenses from 2001-2007.

In 2004 when I was downsized in a big organization, a friend who put up a mortgage brokerage was offering me a training and work as mortgage broker. I did not accept. The office is too far away from my residence. It’s not worth the travel. I decided to work in one of the biggest tax companies instead.

That office no longer exists… the owners had parted ways. I heard that their houses too are in the brink of foreclosures.

The Ca t

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