O.C. late mortgage payments drop 21%

According to CoreLogic’s latest late-mortgage report, 5.44% of Orange County home-loan borrowers as of January are 90 days-plus late with their house payments.

This 90-day delinquency number is seen as a key indicator of future mortgages woes as it captures officially troubled borrowers plus patterns of property owners skipping house payments before the formal foreclosure process begins.

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5 OC men charged with cheating troubled homeowners

Five California men have been charged with defrauding struggling homeowners who were seeking government mortgage help, federal authorities said.

The defendants, all from Orange County, took part in an increasingly “common hoax, preying on the most vulnerable homeowners, who were desperately seeking help,” Christy Romero, the inspector general who oversees the Troubled Asset Relief Program, announced in a statement Friday.

The men started several fraudulent businesses between January 2009 and March 2012, promising homeowners they could secure loan modifications for an upfront fee that was refundable if no help was obtained. The men simply kept the money and didn’t get loan modifications, the statement said.

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