Monday, September 24, 2007
News Add It Up: No Place Like Home
Posted by Thomas Wheatley @thomaswheatley on Mon, Sep 24, 2007 at 2:02 PM
Total value of fraudulent loans pinned to broker Phillip E. Hill for various mortgage-fraud crimes committed in Georgia: $112 million
Amount of cash Hill pocketed in his schemes: $14 million
Number of years Hill received at his Sept. 21 sentencing in federal court: 28
Amount of restitution a federal judge ruled Hill must pay: $41 million
Georgia’s rank in mortgage fraud in the nation: 4
Total number of foreclosures in Georgia in August 2007: 13,931
Percent increase of foreclosures in Georgia from August 2006: 134
Georgia’s rank in the nation for total foreclosures: 4
Sources: AJC, RealtyTrac.com, Mortgage Asset Research Institute
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