Amen. I've been one of the biggest critic of the Indiana Attorney General for failing to go after mortgage fraud and for his office being a weak link in the state real estate regulatory chain. It appears that new Attorney General Greg Zoeller has decided to divert from his predecessor Steve Carter and to make this a priority in his office.“We recognize there is a foreclosure crisis in the country," Zoeller said in a news release. "Indiana has the tools in place that can help consumers avoid becoming victims of for-profit foreclosure consultants’ bad intentions."
In this climate, these foreclosure assistance firms are preying on the vulnerable and violating Indiana's laws in the process. There have been occasions when these shysters con people into signing a quit claim deed transferring title to their home under the claim by the shyster that such a deed needs to be signed in order to get a loan against the home.
Hopefully Attorney General Greg Zoeller will also make mortgage fraud a priority. Right now people involved in mortgage fraud have little to fear. Prosecutors rarely have the ability or the resources to go after mortgage fraud, which fraud often involves a complex real estate transaction far outside the knowledge of a typical deputy prosecutor. The Attorney General's Office could and should step in and fill this void.
Indiana has been Dodge City when it comes to mortgage fraud. It appears there may be a Sheriff in town. Let's hope so.
3 comments:
Indiana has been Dodge City when it comes to mortgage fraud. It appears there may be a Sheriff in town. Let's hope so.
Paul,
Indiana has been Dodge City in all forms of white collar crime! Those who have been rocketing themselves to power by their white collar thievery thought everyone else in Indiana was a bunch of dumb farmers.
The thieves have convinced some of the politicians and elected officials that are supposed to up hold the law to partake with them and cover the misdeeds hoping the naughty stuff will be forgotten over time.
If tis AG wants to be a Sheriff he needs to disconnect himself from the other law enforcers in elected positions, ie: Prosecutors. If he thinks he can ride in on the white horse he better look closely at the entire mess. Right now all there is a ROTTING ELEPHANT in the middle of the room!
"The thieves have convinced some of the politicians and elected officials that are supposed to up hold the law to partake with them and cover the misdeeds hoping the naughty stuff will be forgotten over time."
Sadly, this is so true in Indiana. I found this out the hard way.
I know it isn't a total cure, but I'd like to see Indiana require that all real estate transactions include an attorney for each side whose job is to see to the interests of their client.
Deliberately miss-represented mortgages, deliberately high appraisals, and other schemes that proven all too successful. The public needs someone in the room who is there to lay out what the fine print means.
It is not only seedy fly-by-night artists who have been scamming people. It is also the so-called 'respectable' companies whose greed has led directly to the economic meltdown we are in right now.
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