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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Mortgage Companies Shut Down Due to Fraud


There have been many mortgage companies that have been taken down by the FBI recently due to mortgage fraud. From January 2010 to June 2010 there has been 500 people arrested who were involved in illegal mortgage activity.  Corelogic stated that for 2010 there was 11 billion dollars worth of fraudulent losses due to mortgage scams.  Many innocent homeowners are being taken advantage  by companies that pretend that they can help the homeowner.  In reality all they are doing is stealing money from these innocent people. The FBI said that mortgage fraud is on the top of their list, and they are "aggressively" going after people who are participating in this.