Hundreds swept up in mortgage fraud arrests

[Cali]

[BigJohn]

I always find it interesting when everybody know what is going on but the Feds. When the Feds find out, oooh it is big news.

[chloe0724]

Seems like the govt is always two steps behind. I wish they had approved the plan that would have let chapter 13 judges cram down the price of your home to current market value. I think that would have saved many more people from losing their homes.

[Bandit]

Seems like the govt is always two steps behind.

I always find it interesting when everybody know what is going on but the Feds.

the politicians know more than they let on & they simply act like they were not aware. that is a big problem today & the public keeps sending these same people back to congress year after year as if they trust them as leaders.

it is the same thing with drugs & every other type of crime. they bust the small time street people & keep letting the poiliticians & their buddies do business as they please.

until government feels like they need to make it look like they are helping the people after the damage is done. this stuff has been happening for the past what? at least 6 years? and after all, this one is an election year.

In some cases, gang, drug and organized crime investigations have resulted in mortgage fraud cases because such schemes enable criminals to launder money, Ormsby said.

sounds just like the oil business.
so, what is so wrong with people ripping other people off? that seems to be the trend of leadership & society anyway.

The FBI put the losses to homeowners and other borrowers who were victims in the schemes at over $1 billion.

that is just a drop in the bucket.