Manufactured Foreclosures | Escrow Fees – Feds Probe Million$ in ‘Double-Billing’ by Banks

Sloppy seconds: Feds probe million$ in ‘double-billing’ by banks

Federal investigators are looking into allegations that banks have wrongly pocketed tens of millions of dollars from troubled homeowners by double-billing for mortgage escrow fees, The Post has learned.

Exactly how much in phony profits the banks may have pocketed from this alleged practice is not known, but an analysis by The Post of bankruptcy cases in 2011 shows it could range higher than $150 million for just the new cases filed this year.

The problem has gotten so out of hand that lawyers and accountants at the New York City office of US Trustee — charged with protecting the integrity of US bankruptcy courts — are poring over local Chapter 13 bankruptcy cases for evidence of wrongdoing.

The federal investigators were tipped to the alleged practice by metro area bankruptcy lawyers. Cases specifically involved Wells Fargo and GMAC Mortgage, but lawyers say most banks had double-dipped.

“It seems prevalent, and it’s a moneymaking machine,” David Shaev, a Manhattan bankruptcy defense lawyer, said of the banks’ double-dipping.

Westchester bankruptcy defense lawyer Linda Tirelli says 75 percent of her clients face escrow double-billing by their lender or mortgage servicer, for amounts up to $2,800.

Here’s how the double-dipping scam can be pulled off.

Check out how it’s done here…

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4closureFraud.org

 

Comments
30 Responses to “Manufactured Foreclosures | Escrow Fees – Feds Probe Million$ in ‘Double-Billing’ by Banks”
  1. J. Alonzo says:

    Ron Paul Revolution 2012 stop being sheeple and let’s take or country backl freedom!

    • lvent says:

      tell Ron Paul to sign acontract with all of us and then he has my vote……have to hold their feet to the fire….promises mean nothing..,and besides, if he signs a contract then we own him…..we need to tie the hands of the ruling elite….or else he is just another nwopuppet!

  2. lies is all they tell says:

    i was telling my husband about it. i still can not beleive they have taken all of our wealth and they do not even worry about our issues. very fustrating to be an older adult in this country. so our constitution basically does not exiost anymore? isnt that the reason busch gave for the war was for a democracy and we do not even have one. confusing isnt it

    ps go tmy new computer much easier typing on this one bigger key board then my netbook

  3. angry&NOT TAKING IT! says:

    the very word secret is repugnant to a free and open society .

    • lvent says:

      The new world order are criminals, thieves of freedom and democracy as obama,Congress and the Senate proved by passing ndaa…they are traitors!

  4. lvent says:

    HAPPY NEW YEAR…! THE NWO JUST HIJACKED YOUR FIRST AMENDMENT RIGHTS VIA THE TRAITOR POLITICIANS IN CONGRESS, THE SENATE AND OBAMA!!!

  5. qny81 says:

    That’s why we need to vote in Dr. Ron Paul for president this year. He is the only candidate talking and denouncing it.

    • lvent says:

      This UNCONSTITUTIONAL PIECE OF SHIT LEGISLATION NEEDS TO GO BEFORE THE SUPREME COURT NOW!!! THE AMERICAN PEOPLE SHOULD DEMAND ALL OF THE POLITICIANS RESIGN….!!

      • lvent says:

        THE NWO HAS MANUFACTURED EVERYTHING TO STEAL EVERYTHING FROM THE PEOPLE…FROM THE WAR ON TERROR TO THE FINANCIAL CRISIS..ALL MANUFACTURED TO STEAL YOUR RIGHTS AND A YOUR WEALTH!!!

  6. lies is all they tell says:

    wow we live in scary times. i am so scared really. do you know all my writing to all the government entities dod nothing to prevent my foreclosure. nothing. they are acting like we all caused this. i never felt so vunerable that i could lose my family.
    time out virus cant keep us down right!!!

  7. lies is all they tell says:

    i heard about that , but it is ok fof them to terorize us but nothing is done. oh by the way the time out virus also stopped emails of new posts . again so we do not know a comment is posted so we can not share. not the america i learned about in school.

  8. lies is all they tell says:

    to take more of our jobs over seas or make more people homeless

  9. lies is all they tell says:

    what is that

    • lvent says:

      THE NATIONAL DEFENSE AUTHORIZATION ACT…GOOGLE IT..THE U.S. GOVERNMENT CAN NOW ARREST YOU IF THEY SUSPECT YOU ARE A TERRORIST!!

      • lvent says:

        THE US. GOVENMENT CAN ARREST YOU AND YOUR ENTIRE FAMILY IF YOU PROTEST OR SPEAK OUT AGAINST THE GOVERNMENT OR THE FED…YOU WILL HAVE NO RIGHT TO AN ATTORNEY!!

      • lvent says:

        THEY CAN DETAIN YOU INDEFINITELY AT AN UNKNOWN LOCATION AND THEY NEVER HAVE TO TELL YOUR FAMILY WHAT HAPPENED TO YOU!!! JUST LIKE NAZI GERMANY!!!

      • lies is all they tell says:

        so basically our constition amendment 1 freedom of speech is gone?

  10. lvent says:

    FOX NEWS JUST REPORTED OBAMA SIGNED NDAA OVER THE WEEKEND!!

  11. lies is all they tell says:

    going to get a computer today with a full windows program. my husband can not apply to jobs that need his resume copy and pasted because somehow they decided to make these cheap net books that we can afford not have that capability. keep us more unemployed nice. i am loving it.. so we are going today to spend money we should not be that we need someday for rent or food to buy a computer. something more sinister is out there and i was never a conspirist theorist. i thought the 1st plane was a comutter plane out of control

    please remember to copy your message before posting then go back paste it thrn comment again. i forgot and had to re write again it get annoying but there is aprice for freedon of speech my fellow earhters

  12. lies is all they tell says:

    JFK WAS ASSASSINATED FOR WARNING US THATS WHY NO ONE HEEDED HIS WARNING. EVERYONE WAS TO BUSY GREIVING THEY FORGOT AND LIFE CONTINUED. I WAS 2 MONTHS OLD THEN

    AGAIN I SAY A TIMEOUT VIRUS IS NOT GOING TO STOP US

    • lvent says:

      Right on lies!!! Did you hear the news???…its official Obama is a traitor…FOX just reported Obama signed NDAA over the weekend!!!

  13. lies is all they tell says:

    are they serious thats all they can find. not the robosigning, modification scam or mortgage application fraud or even appraisal fraud .. nothing that would help the homeowners keep their homes. am i the only that is seeing something wrong here. please help we need join masses. wells fargo has their note endorsed by joan m mills rubber stamp please i need information this is serious.

    THEY THINK A TIME OUT VIRUS IS GOING TO STOP US FROM POSTING THEY FORGOT THAT THOSE OF US WHO ARE ON HERE HAVE AT LEAST HALF OF OUR BRAIN SORRY MY BANKSTERS CANT KEEP OUR MOUTHS SHUT

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