PLUMAS LAKES – A Plumas Lakes man has won a major judgement in a mortgage modification fraud case dating back to 2010.

A Superior Court jury in Yuba County awarded Phillip Linza $513,902 in damages and $15.7 million in punitive damages against PHH Mortgage Corporation.

It began when Linza was struggling to pay his mortgage in 2010 in the middle of the mortgage crisis. He thought he was on the road to saving his home when his loan provider PHH Mortgage agreed to a loan modification, taking his payment from $2,100 a month to just over $1,500 a month.

I made the payments for months, Linza said. Then I get a letter in the mail that says, oops, we made a mistake, your...

LONDON (Reuters) – British cigarette maker Imperial Tobacco (IMT.L) is set to launch loans totaling $13.1 billion to back its acquisition of selected brands and assets from Reynolds American Inc (RAI.N), the lead banks said in a statement on Friday.

The deal is the second-biggest acquisition loan of the year in Europe, the Middle East and Africa, after a $14.2 billion loan for Bayer BAyGn.DE, which financed its acquisition of US-based Mercks (MRK.N) consumer care business, according to Thomson Reuters LPC data.

It is also the biggest loan of the year so far for a UK company, the data shows.

The jumbo financing will cover the $7.1 billion acquisition and refinance...

Thunder Bay Hydro is warning customers that a scam already noted by authorities in the U-S has turned up in the city.

Fraudstersare phoning customers claiming to be from the companys termination department, said Thunder Bay Hydro spokesperson Eileen Dias.

They threaten to cut off the power if a payment isnt made through pre-paid credit cards or wire transfers.

Dias said people could be fooled, because Thunder Bay Hydro does contact customers by phone.

These criminals are using very similar methods that a utility would use in order to connect with a customer in a delinquent situation, she said.

Scam is sweeping the US

Thunder Bay Hydro knew the scam...

New reverse-mortgage rules kicking in Aug. 4 should provide peace of mind to married couples considering taking out these loans.

Reverse mortgages (home loans for people 62 and older that let them convert home equity into cash) can be a useful way for homeowners to receive extra income in retirement; the loan must be repaid when the borrower dies, moves or sells the home.

But there has been a big problem: In some cases, husbands have taken out reverse mortgages and their wives then faced foreclosure when they couldn’t pay off the loans after their spouses died. AARP filed a class-action suit against the US Department of Housing and Urban Development (HUD), saying that HUD didn’t...

GUELPH – A telephone scam in which a caller posing as a Guelph Hydro official threatens to cut off electricity to local residents if they dont immediately pay alleged overdue amounts is making the rounds.

The municipal utility warned of the scam Tuesday, noting the caller, using a 1-800 telephone number, demands payment within 30 minutes through money wire transfer or use of pre-paid credit cards.

Customers are reminded that Guelph Hydro never asks for a pre-paid credit card payment or wire transfer for overdue accounts,...

THE global financial crisis that erupted in full force in 2008 affected Europe and the US in a very similar way — at least at the start. On both sides of the Atlantic, economic performance tanked in 2009 and started to recover in 2010.

But, as the financial crisis mutated into the euro crisis, an economic gulf opened between the US and the eurozone. Over the last three years (2011-13), the US economy grew by about six percentage points more. Even taking into account the increasing demographic differential, which now amounts to about half a percentage point per year, the US economy has grown by about 4.5 percentage points more over these three years on a per capita basis.

The...

My wife does a lot of shopping online, all at reputable businesses, but her credit card has been stolen four times in the last year, requiring her to get a new card each time. Is there a way to shop online with a credit card that will self-destruct after each purchase?

Contact your credit card company and see if you are eligible for one-time-use cards. With these cards, you can set up certain guidelines. For example, you can only use the card at certain websites, can only spend up to $100, or can only use it Tuesday from 8 am to 10 am

You could also open a dedicated free checking account just for online transactions. Only put money in when you need to buy something. If a hacker...

Texasteenage cheerleader Kendall Jones, the hunter who became the hunted, shot back at critics recently, defending her controversial big game hunts as conservation efforts.

Jones made news by posting photos of her hunting trip toZimbabwe onher Facebook page, posing and grinning next to her kills — including a lion and other big cats. The pictures created an uproar among animal lovers and Jones waslabeled the most eminently hateable person on the Internet right now.

But the 19-year-old — who counts more than 577,000 fans of her Facebook page — says these outraged animal lovers are missing the point.

Tanzania also has 15 photo-safari areas,...

Lerman also wrote that professors would have to receive their pay from the Corcorans dwindling financial resources, which are supposed to help cover the art school buildings restoration. GW plans to spend $25 million in the first phase of renovations to the Corcorans aging building on 17th Street.

The groups that accredit the Corcoran College of Art + Design have voiced concerns over the school’s financial state, but Lerman argued that issue would resolve itself once the school joins GW.

A favorable ruling issued well before the start of the fall semester would help ensure a more stable and predictable transition, which would be in the best interests of the Corcoran College,...