Consumer Law

Man Pleads Guilty In Mortgage Rescue Scheme

By M. Stan Herring

App.com has posted an article about a recent case where a Brooklyn man has pleaded guilty for running a scheme that falsely promised to help homeowners keep their homes and amend their credit scores.

Garth Celestine, the guilty schemer, was the owner of Home Savers Consulting Corporation. Prosecutors are saying that he, along with other conspirators, "told homeowners facing foreclosure that they could save their homes by transferring title to straw buyers recruited by Celestine and his business partner." They applied for mortgages using the names of "straw buyers" to get the get the most equity possible from the properties and then kept the money.

Celestine will be sentenced on July 12th and faces 20 up to years in prison.

If you would like more information on foreclosures, please check out our articles The Three Stages Of Foreclosure In Alabama and Wrongful Foreclosures In Alabama.

If you have further questions or concerns, feel free to contact us through our website or by calling 205-879-2447.

You can sign up for our free email newsletter sent out every Thursday morning - we cover topics such as the one in this post. We would love to include you! Just fill out the form below:

You can also join our Facebook Fan Page - Alabama Consumer Protection Attorneys where we share useful information about the same types of issues that we cover in this blog.

Full post as published by Alabama Consumer Blog on April 01, 2010 (boomark / email).