Friday, February 17, 2012

Mortgage settlement with banks sparks new scam - WTOP Mobile

Mortgage settlement with banks sparks new scam - WTOP Mobile

WASHINGTON - Scammers are trying to take advantage of the multi-state mortgage service settlement announced last week.

Virginia Attorney General Ken Cuccinelli said the calls and emails about scams began very soon after the settlement was announced. The scammers try and convince consumers that, for a fee, they can get some of that money announced in the settlement with major banks.

"It's unbelievable how scammers prey on people who are vulnerable and have already been hurt," said Cuccinelli's spokesman, Brian Gottstein. "These people have no souls."


Well, you would have a hard time finding a soul in anybody throughout this entire process, from the mortgage originators to the investment banks that created the garbage mortgage backed securities, and on to the ratings agencies that called it AAA and right through the whole line of policy makers who deregulated the industry and left consumers completely vulnerable to predators, and then on to the phony "mortgage rescue" fraudsters, the mortgage foreclosure mills with their sleazy robosigners, and on and on. It is no surprise that yet another bunch of con artists are preying on people.

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