State's Attorney Targets Foreclosure Rescue Rackets With Dedicated Unit In Prince George's County

In Upper Marlboro, Maryland, WUSA-TV Channel 9 reports:

• Foreclosures are robbing people of their American dream. Mortgage fraud is such a big player in these losses that Maryland created a criminal unit, housed in Prince George's County, just to track down these housing predators.

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• The stories behind the losses lead the county to create the Mortgage Foreclosure Fraud Division. They go after the people who peddle too-good-to-be-true schemes. "There are promises about getting people out from mortgage debt entirely, instantly. You know, give us the deed, we'll give it back," says [Prince George's County State's Attorney Glenn] Ivey.

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• "Whenever you have a community that is laced with foreclosures, that means it's a breeding ground for foreclosure scammers," says Assistant State's Attorney April Richardson. Richardson is leading the charge against the companies that orchestra mortgage fraud schemes. She says scammers entice homeowners by telling them they can clean up their credit and keep them in their homes. "When you truly look at the documents, you'll see that the scammer would just take title and then turn around and refinance the house and take all of the equity out," says Richardson.

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• Prince George's County leaders and other officials will try to "Knock Out Mortgage Fraud" on June 12th. They plan to go door to door to educate people about the signs of fraud, in areas that are open targets.

For the story, see On The Trail Of Mortgage Fraud.