California Real Estate Fraud Report

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Attorney General Brown warns consumers against forensic loan audits

In a press release, California Attorney General Edmund G. Brown sent out an alert to distressed homeowners: do not be duped into paying for a forensic loan audits.

According to AG Brown, forensic loan audits are the latest ploy by foreclosure consultants, mortgage relief firms, foreclosure assistance firms, loan modification firms and the like to extract upfront fees from their victims without providing any actual foreclosure relief. These firms are forbidden by law from charging advance fees, must register with Brown’s office and post a $100,000 bond. In the past year the AG’s office has shut down at least 30 of these parasitic companies and has prosecuted numerous licensed (and unlicensed) real estate professionals and attorneys who have violated the law. And the Department of Real Estate (DRE) is actively carrying out investigations and issuing cease-and-desist orders to companies and individuals who cross the line, according to Real Estate Commissioner Jeff Davi.

Read the press release on the California Attorney General’s website.

© Copyright 2007-2018 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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