A new website will allow people in Los Angeles to report suspected cases of mortgage fraud and abuse. More on the story from KPCC’s Alex Cohen.
The City Attorney’s Office has launched a site called FightingMortgageFraud.org. It’s part of a crackdown on predatory real estate companies and loan brokers who deceive first-time homebuyers and people trying to refinance their mortgages.
The Web site describes various categories of foreclosure "rescue" scams and links users to agencies that can help. Amid the economic downturn, unscrupulous brokers have charged homeowners for repairs that never happen or persuaded them to sign over the title to their property in exchange for mortgage assistance or other services. Often, these scams involve forged documents and other misrepresentations.
Angelenos can use the Fighting Mortgage Fraud site to submit complaints to the City Attorney's Office. Its prosecutors will investigate the allegations and determine whether to take legal action.