The State can not take with mortgage fraud.
Ignacio Garcia and Angelina has never owned a Ford Taurus 2000 or 1996, a Ford pick-up. But their mortgage application, says it does the Garcia say they do not know even after she bought a duplex heruntergekommenen Minneapolis in 2002. It was only later, Garcia said, they understood that their fortune was inflated for the loan, in a classic case of mortgage fraud.
The Garcia speaks little English, but she agreed to help the body Advocacy group ACORN try a case Twin Cities real estate agents, they say, their application and discourages Doctored, which inspects the duplex. Last December, after losing the closure duplex, Ignacio Garcia joined two other clients of the agent and went to Minnesota Department of Commerce to tell their stories. Officially, they met, said the state would consider, Garcia recalls. He left the meeting full of hope.
A year later, Garcia still waiting for trade.
“He told us he wanted us the American dream,” said Ignacio Garcia of their real estate agent, through a translator. “How is it that they are not made in the courts?”
The complaint Garcia is one of thousands, cast in the Department of Commerce in recent years. Since the State Agency for the regulation of Minnesota’s expert, author of mortgage and real estate companies, trade is the chief watchdog against fraud mortgage experts call as the main factor of rising rates foreclosures.
But, as Garcia ‘poster, justice is not always swift or certain.
At the request of the Pioneer Press, Commerce compiles data on their actions against the execution of real estate economy. These figures draw a picture of a team fight unterbesetzten catch up with industry, it is alleged to be resolved.
Languish cases, for months or even years - investigators, according to them, if we ever. An examination of the Federation of Trade at the Ministry of regulating the house of Experts concluded the department of the absence of proper training of investigators and had a serious delay. If the mortgage industry efforts to license individual Mortgage Brokers in Minnesota, trade lobbied against him, saying that it would be a burden. It is not difficult to find people, complaints are filed, but never said trade.
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