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Tue, Jul 7, 2009 -- 9:00 AM
Foreclosure "Rescue" Fraud
With foreclosures on the rise in California, loan "rescue" scams are proliferating in the state and around the country. Distressed homeowners seeking mortgage relief are increasingly being ripped off by companies promising - and then failing to provide - loan modification help. We'll find out how the scams operate, and examine legislation pending in Sacramento aimed at cracking down on them.
Host: Michael Krasny
Guests:
- George Duarte, legislative chairman of the East Bay chapter of the California Association of Mortgage Brokers
- Kamala Harris, San Francisco District Attorney.
- Kevin Stein, associate director of the California Reinvestment Coalition, an organization that advocates for equitable access to financial services for low-income and minority communities
- Pedro Nava, member of the California Assembly, District 35.
- Wayne Bell, chief counsel at the California Department of Real Estate.
More info:
- Fraud Warnings for California Homeowners in Financial Distres : brochure prepared by the Department of Real Estate [pdf].
