5 million homes in america at or near the point that they are ready to be foreclosed on. a record 102,000 homes were repossessed in september alone. highest ever. now comes word that attorneys general from all 50 states are investigating possible fraudulent practices with home foreclosures. we have talked about the story for weeks. christine? despite, despite the misinformation that i have heard consistently in the media, this is not likely to save people whose homes are being foreclosed upon. it may delay the process a little bit. but it s not going to change things for most people. and we ve said from the very beginning if you are listening to this story about a freeze on foreclosures or investigations in the foreclosure process, it
.featuring our entire stressless line. give yourself the gift of ultimate comfort. and where better to find it than from stressless, the innovators of comfort. call now for a free catalog and dvd featuring our entire stressless line. . five million homes in america at or near the point they are ready to be foreclosed on. a record 102,000 homes were repossessed in september alone. highest ever in one month. now comes word that attorneys general from all 50 states are investigating possible fraudulent practices with home foreclosures. we have talked about the story for weeks. christine, despite the misinformation that i have heard consistently in the media, this is not likely to save people
you re asking for civil penalties for up to $25,000 for every violation, correct? that s correct. and every case in which fraudulent affidavits were filed with the court is a separate serious violation. if any attorney in a normal case filed fraudulent evidence, they would expect and receive sanctions for themselves and their client. did you notice in particular ohio hard hit? as we know, i think 40 states in all are saying attorney generals are saying the same things you re saying. you know, foreclosure is an issue that has hit ohio very hard going back about six, seven years now but it s hit a lot of other states hard in the meantime and it s a nationwide problem at this point. we have to clean up any kind of fraudulent practices in this area. there had been fraudulent lending before. now there s fraudulent foreclosures being filed. no one can defend a practice that a business model based on fraud and we need to clean it up. in layman s terms, can you give us an idea of w
caught on camera, new undercover investigation reveals that some for-profit colleges have engaged in deceptive behavior to get their hands on their tax dollars. the government accountable office found out of 15 schools they investigated every single one made deceptive or questionable statements to undercover applicants and four encouraged fraudulent practices. last year for-profit colleges got $4 billion in grants. college personnel at some schools encouraging applicants to falsify their financial aid forms to qualify for financial aid or leave out required information concerning how much cash a student had on hand. frankly, mine poi opinion, they don t even know how much cash you have, that s why you
the associated press. the better business bureau has a warning. beware of debt settlement companies. ines has tips on what you should do and how to avoid the scams. what s going on here? reporter: tony, it s not only the better business bureau sounding the alarm. the government accountability office came out with the results of an under cover investigation of the industry and found some debt settlement companies engaged in deceptive and fraudulent practices. new legislation was proposed to regulate the industry. wow. so how much information do we have on how they work? reporter: first, not all debt settlement companies are out to deceive you, but there are some rogue firm that is claim they can negotiate a settlement with your creditors for less than what you owe after you pay an up-front fee. the company could charge 20% of your debt. then they set up an account where you deposit money that s used to pay for a negotiated