mortgage: Mortgage Broker "Not a Bad Guy" Despite Pleading Guilty to Stealing Millions - 11/29/07 06:18 AM
The broker-owner of a bankrupt mortgage company pleaded guilty Wednesday afternoon to mail fraud charges in federal court in Harrisburg. His attorney says he is "not a bad guy" despite the loss of millions of dollars of missing or stolen money - and placing over 800 borrowers in deep mortgage debt. Wesley … (1 comments)
mortgage: Housing Credit Counselors Leaving Under Stress - 11/03/07 01:55 PM
From the Washington Post: Counselors help homeowners examine their finances; what it will take to catch up with payments, if that's feasible; and how the foreclosure process works. They also work with lenders, often spending hours trying to reach the right representative. Urban joked that he has passed so much time … (0 comments)
mortgage: More Victims of Mortgage Scam Identified - 11/02/07 10:09 AM
The deep roots of Personal Financial Management entangled mess is worse than thought. Individual investors are now surfacing: one is a Willow Street (Lancaster County, PA) woman who is likely to lose $852,000. The latest on this debacle is available from the Lancaster Newspapers at: http://local.lancasteronline.com/4/211751 and WGAL Channel 8: http://www.wgal.com/news/14473901/detail.html There are other … (1 comments)
mortgage: Proposed Law to Crack Down on Mortgage Scammers - 10/31/07 01:57 PM
More fall out from the Pesonal Financial Management debacle (see my other blog posts) has resulted in the local state representative proposing stiff penalties in a new law. State Representative John Bear today announced that in response to the recent actions of a mortgage lender operating in Lancaster and Berks counties, … (2 comments)
mortgage: Kick Back Investor Gets 14 Years for Real Estate Scams - 10/30/07 12:42 PM
From the Lancaster Newspaper: PHILADELPHIA - Mickey Allen Weicksel, a former Lancaster real estate investor who obtained about $4 million in kickbacks through a real estate scam, was sentenced Tuesday to 14 years in prison. Federal District Judge Barclay Surrick in Philadelphia also sentenced Weicksel, 40, to serve five years probation after … (4 comments)
mortgage: Federal Judge Tells Homeowners, Mortgage Banks to Work Together - 10/24/07 01:05 PM
Lancaster's WGAL Channel 8 is reporting that a Federal judge is telling home owners and their mortgage companies to work together in the Pesonal Financial Managment mess. From the web site: PHILADELPHIA -- Wednesday morning a federal judge in Philadelphia threw out a ruling that had temporarily protected homeowners who had been … (0 comments)
mortgage: Homeowners Turning to Bankruptcy Filing to Save their Homes - 10/23/07 06:45 AM
From today's Wall Street Journal, a front page report: "...an increasing number of homeowners have filed for bankruptcy under Chapter 13, which staves off foreclosure proceedings while the homeowner works out a plan to pay off mortgage debt and other obligations over time -- usually three to five years. To qualify, debtors … (6 comments)
mortgage: Help Center Being Established for Swindled Home Owners - 10/19/07 02:58 PM
A group of state lawmakers is joining forces with local agencies to offer help to homeowners affected by the bankruptcy of Personal Financial Management. (See other entries on my blog about the 800 plus homeowners here in Lancaster, Chester, Berks, & Lebanon counties that have been apparantly swindled by the owner … (0 comments)
mortgage: More on the Personal Financial Management Debacle - 10/18/07 09:51 AM
Lancaster's WGAL-TV8 also covered this week's meeting of the mortgage holders that have been burned by Personal Financial Management. Here is the link to their coverage: http://www.wgal.com/news/14359656/detail.html Channel 8 is reporting that people traveled as far away as Delaware to attend the meeting. Also: The former customers also talked about how the … (0 comments)
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The broker-owner of a bankrupt mortgage company pleaded guilty Wednesday afternoon to mail fraud charges in federal court in Harrisburg. His attorney says he is "not a bad guy" despite the loss of millions of dollars of missing or stolen money - and placing over 800 borrowers in deep mortgage debt.
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