Maria Antonia Franks Hernandez, Wyoming, Michigan, has been accused of defrauding the Michigan State Housing Development Authority (MSHDA) by fraudulently obtaining a mortgage, defaulting on that mortgage and leaving taxpayers to pick up the tab.

Franks Hernandez is accused of stealing her sister’s identity between December 2003 and February 2004 to fraudulently obtain an $83,000

Save My Home USA, Madison Heights, Michigan, has been charged with four counts of violating the CSA (43rd District Court, Oakland County).  The company charged victims between $595 and $2,000 before completion of services and advised consumers not to communicate with their mortgage company;

Help4homeowners, Birmingham, Michigan, has

Eddie Zaben, 39, Dearborn, Michigan, is charged with one count of continuing criminal enterprise (racketeering), a 20-year felony, and eight counts of false pretenses over $20,000, each a 10-year felony. The charges resulted from a year-long investigation by the Michigan Mortgage Fraud Task Force and included efforts from the Michigan State Police, U.S. Secret Service, and the Attorney General’s office. The joint investigation

Myron L. Hooker, 42, Detriot, who obtained and caused to be obtained numerous fraudulent mortgage loans, entered a plea of guilty to the charges of wire fraud and conspiracy to commit mail fraud and wire fraud. Hooker pleaded guilty without a plea agreement and faces the statutory maximum penalty for the offenses: 5 years imprisonment and a fine of up to $250,000 for the conspiracy

The State of Michigan has been appointed lead plaintiff in the national securities class action lawsuit against the Bear Stearns Companies and five current and former executives and directors for allegedly misleading pension funds and other investors by failing to appropriately mark down its huge portfolio of securities containing subprime mortgage-backed securities.

The lawsuit claims Bear