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Real Estate & Property Law

The Home Equity Theft Reporter

Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues.
By r morris

Post Frequency: 25.7/day

Last Entry: September 06, 2017 at 04:02:00

Final Conspirator Goes Down In "MKL Financial Diet" Equity Stripping Foreclosure Rescue Scam

Posted on April 15, 2009
From the Office of the U.S. Attorney in Maryland:Earnest Lewis, age 52, of Takoma Park, Maryland, pleaded guilty [Wednesday] to conspiracy to commit wire fraud arising from a scheme in which he and his conspirators offered to help financially vulnerable individuals save their homes from foreclosure, and instead defrauded homeowners and mortgage lenders, announced United States Attorney for the

Caregiver Charged With Manipulating Stroke Victim Into Refinancing Home, Misapplying Proceeds For Personal Expenses

Posted on April 14, 2009
In Stamford, Connecticut, The Advocate reports:A 50-year-old Stamford woman is charged with scamming $66,000 from a former co-worker who was recovering from a stroke, police said, though the victim lost about $100,000 more in the alleged scheme. Bridget Gleason-Paniccia [...

I.D. Theft Suspect Convicted Of Swiping Property Title From Fellow Inmate To Post Bail, Then Fleeing Country With Girlfriend

Posted on April 14, 2009
In Southern California, The Orange County Register reports:A Tustin man who had tried to flee to Mexico was convicted [last week] of committing a $2.8 million fraud by stealing the identities of more than a dozen people who hoped to invest in real estate...

Foreclosed Texas Homeowner Accuses Loan Modification Firm Of Taking Money, Doing Nothing

Posted on April 14, 2009
In Fort Worth, Texas, the Fort Worth Star Telegram reports:First the mortgage payments went up after he refinanced; then he broke his collarbone and was out of work for months during rehab. When the bills began to mount and Ramiro Diaz found himself behind on the mortgage in August 2006, he contacted Your Mortgage Solutions in North Richland Hills...

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Investment Program Promoted By Condo Conversion Marketer To Unload Unsold Inventory Leaves Investors Holding The Bag

Posted on April 13, 2009
In San Diego County, California, The San Diego Union Tribune reports:[Frances] Greenspan is one of a number of investors across California who said they agreed to effectively trade their good credit for a promise of $5,000 to $10,000 per mortgage they took out...

Arizona Feds Indict Pair In Alleged Scheme Using Homeowners Facing Foreclosure, Abusing HUD "Short Sale" Program To Pocket Illegal Profits

Posted on April 13, 2009
From the Office of the United States Attorney (Arizona):A federal grand jury in Phoenix returned a 19-count indictment [Wednesday] against Kenneth D. Perkins, 51, and Robert Lee Burdiak, 66, both of Gilbert, Ariz. , alleging wire fraud and false statements to the government and to financial institutions...

Obama Administration Big Shots On The War On Foreclosure Rescue, Loan Modification Scams

Posted on April 13, 2009
U.S. Treasury Secretary Timothy F. Geithner, Attorney General Eric Holder, and Secretary of Housing and Urban Development Shaun Donovan issued a joint press release last week on combatting foreclosure rescue and loan modification scams:[I]n a major step [last] week, the Department of the Treasury, the Department of Justice, the Department of Housing and Urban Development and the Federal Trade

Some Loan Modification Firms Have Their Own Financial Baggage

Posted on April 13, 2009
In Hampton Roads, Virginia, The Virginian Pilot recently did a story on some of the upfront fee loan modification firms that have recently sprouted up locally. The owner of one firm who was interviewed for the story reportedly described her business model as one where she charges from $500 to $1,500 upfront, collects basic information from the homeowner, and then passes along the file to an

B.C. Appellate Court Sides With Victims Who Lost Homes In Deed/Refinance Scams Involving Use Of Forged Documents; Duped Lenders End Up Holding The Bag

Posted on April 12, 2009
In Vancouver, British Columbia, The Canadian Press reports:The B.C. Court of Appeal wants the province to come up with stricter laws forcing lenders to do a better job of vetting mortgage applicants to ensure they aren't securing property that's been stolen...

Evicted Homeowner Claims Loan Modification Firm Collected Loan Payments, Let Mortgage Go Into Default, Bought House At Foreclosure Sale

Posted on April 12, 2009
In Ogden, Utah, KTVX-TV Channel 4 reports:[Ron Chavez] was evicted from his home after twenty two years. Last year he fell behind on his mortgage. [...] He turned to a loan modification specialist. [...] "I talked to an attorney who was supposed to help us out and I got offered a brochure to contact these people,? Chavez said...

Feds Begin "Lampoon" Attack On Firm Offering Free Credit Reports With Parody Advertising

Posted on April 12, 2009
The Washington Post reports:If you watch television, chances are you've seen the jingles where the young guy sings a campy song about his troubles with identity theft, in a bid to pitch a site called freecreditreport.com.Well, now the Federal Trade Commission is getting in on the act, running a series of hilarious public service announcements to point out that such services often are not free at

Homeowner Faces Foreclosure For Continued Refusal To Use Leash When Walking Dog

Posted on April 12, 2009
In Tarpon Springs, Florida, the St. Petersburg Times reports:Robert Wirth Jr. may lose his house ? all because of walking his dog in a deed-restricted community without a leash. What seems like a relatively minor infraction has snowballed into a protracted court battle that he claims has cost him more than $100,000 in legal fees...

Chinese Drywall Problem A "Sleeping Beast" In Thousands Of Bank-Owned Condos, Houses?

Posted on April 12, 2009
The Associated Press reports:At the height of the U.S. housing boom, when building materials were in short supply, American construction companies used millions of pounds of Chinese-made drywall because it was abundant and cheap. Now that decision is haunting hundreds of homeowners and apartment dwellers who are concerned that the wallboard gives off fumes that can corrode copper pipes, blacken

Orlando-Area Cops Bag Suspect In Phony Landlord Scam; Accused Of Breaking Into House, Changing Locks, Renting Premises To Unwitting Tenant

Posted on April 11, 2009
In Orlando, Florida, WFTV Channel 9 reports:A home for rent was the perfect price in the perfect place, but there was just one problem. The landlord didn't really own it. Detectives said the self-proclaimed landlord broke into a vacant home and changed the locks...

Ocean City Cops Warn Against Phony Landlord Rental Scam Promoted On Craigslist

Posted on April 11, 2009
In Ocean City, New Jersey, WPVI-TV Channel 6 reports:Police in Ocean City, New Jersey are warning of a real estate scam. Investigators say the scammers will copy online listings for legitimate real estate sales, and then re-post them on the website Craigslist as a rental...

More Homeowner Complaints On Loan Modification Firms From Around The Country

Posted on April 11, 2009
The following links are to stories on financially strapped homeowners reporting problems with loan modification companies they hired to help resolve their mortgage problems:Port St. Lucie, Florida: Treasure Coast homeowners should be wary of mortgage modification scams...

Another Banquet Hall In Foreclosure Shuts Down, Sending Engaged Couples Scrambling To Salvage Wedding Plans

Posted on April 11, 2009
In Holland, Michigan, WZZM-TV Channel 13 reports:A Holland banquet hall that WZZM 13 On Your Side investigated in March for reneging on a refund has closed. Raleigh Woods Catering and Conference Center on James Street is closed and is in foreclosure. Now, several couples who are getting married are trying to find another place to have their receptions...

Ohio Man Facing Foreclosure Barricades Himself In Home In Standoff With Cops

Posted on April 11, 2009
In Lucas County, Ohio, the Toledo Blade reports:A Springfield Township man who barricaded himself in his home during a standoff with authorities that lasted three hours was indicted Tuesday by a Lucas County grand jury. Michael Swiergosz, 46, [...] was charged with two counts of felonious assault, each with firearm specifications...

Madison Man Mad That Someone Else Now Owns His Foreclosed Home Torches Premises, Say Cops; Now Faces Arson Charges

Posted on April 11, 2009
In Madison, Wisconsin, the Wisconsin State Journal reports:Upset that someone else was living in the town of Bristol house where he once lived, a Madison man stuffed a rag into a vehicle gas tank in the garage and set it ablaze, according to court documents...

Owner Of Now-Defunct Title Company Admits Swiping Closing Proceeds Intended To Pay Off Existing Mortgages, Leaving Homeowners Facing Foreclosure

Posted on April 10, 2009
In Louisville, Kentucky, WHAS-TV Channel 11 reports:In an exclusive interview with WHAS11 News, the former owner of a Louisville title company admits to misappropriating mortgage money. His actions could cost a number of people their homes.Wavy Curtis Shain appeared in federal court Tuesday, but the court did not accept his guilty plea, pending a better explanation of the charges by the U...

Tennessee Mobile Home Park Residents Temporarily Dodge Eviction As Lender Cancels Landowner's Foreclosure

Posted on April 10, 2009
In Ringgold, Tennessee, WTVC-TV Channel 9 reports:Dozens of families in Catoosa County are breathing a sigh of relief Tuesday after a foreclosure and auction on their mobile home park is cancelled. Last month we visited the Pine Forest Mobile Home Park in Ringgold which was planned to be auctioned off because of foreclosure - leaving many residents with no where to go...

Mobile Home Park In Foreclosure Shut Down By Authorities As Unpaid Bill Results In Water Shutoff Leaving Premises Uninhabitable; Residents Get Boot

Posted on April 10, 2009
In Southport, New York, the Elmira Star Gazette reports:Chemung County and multiple agencies [Tuesday] are assisting displaced residents of a Southport mobile home park on Sherman Avenue after their park became uninhabitable. The town of Southport code enforcement officer and the Chemung County Environmental Health Department said the property was uninhabitable [Tuesday] after the Elmira Water

Feds Take Closer Look At Tax Resolution Companies As Complaints Parallel Those Leveled Against Loan Modification Firms

Posted on April 10, 2009
WebCPA reports:The Internal Revenue Service has suspended an enrolled agent from practicing before the agency after his clients complained that he did little to help them settle their tax disputes. The IRS?s Office of Professional Responsibility suspended Richard Hargus, who worked in California for two separate, now defunct companies that specialized in tax resolution services, including the

Grand Theft Probe Triggered By Report Of $1M In Missing Fixtures, Appliances Stripped From Foreclosed Mansion

Posted on April 10, 2009
In Encinitas, California, the San Diego Union Tribune reports:After a high-profile foreclosure, the county's largest and possibly most luxurious bank-owned home is missing an estimated $1 million worth of fixtures, from antique doors to top-of-the-line toilets...

Landlord Rents Home In Foreclosure To Tenant, Then Strips The Place Of Appliances, Fixtures

Posted on April 10, 2009
In Las Vegas, Nevada, KTNV-TV Channel 13 reports:Imagine signing a lease, moving in, and weeks later your landlord takes all your appliances. The dishwasher ripped out, refrigerator snagged and even the toilet is gone. "I don't understand this, but they took all the shelving units from inside the pantry," Melody Hosp says...

24 Suspects In Alleged Street Gang Member-Led Mortgage Fraud Scam Could Face Hard Time As California Feds Bring RICO Charges Against Group

Posted on April 09, 2009
In San Diego, California, voice of san diego.org reports:Federal prosecutors on Tuesday announced unprecedented charges against individuals involved in an alleged mortgage fraud ring involving 220 properties in San Diego County, with total purchase prices topping $100 million...

Manhattan DA Charges Brooklyn Man Of Using Forged POA Revocation, Bogus Deed & Mortgage In Attempt To Swipe Harlem Brownstone From Deceased Owner

Posted on April 09, 2009
From the Office of the New York County District Attorney:Manhattan District Attorney Robert M. Morgenthau announced [Monday] the indictment of a Brooklyn man for filing a forged deed and other fraudulent documents in an attempt to steal a Harlem brownstone...

Honolulu Feds Raid Four Houses, Seize Evidence In Probe Into Alleged "Royal Hawaiian Treasury Bond" Foreclosure Rescue Scam

Posted on April 09, 2009
In Honolulu, Hawaii, the Honolulu Advertiser reports:The FBI [Tuesday] raided four Maui homes as part of its investigation into allegations that several local companies bilked homeowners out of more than $300,000 on O'ahu, the Big Island and Maui with false promises to help them avoid foreclosure...

IRS To Take Careful Look At Loan Modification Outfits Filing Bogus Applications For Non-Profit, Tax-Exempt Status

Posted on April 09, 2009
The Chronicle of Philanthropy reports:The Internal Revenue Service is working to help ?protect the trust and confidence? in nonprofit organizations during the current economic crisis and will be watchful of possible abuse, says Lois G. Lerner, who oversees the IRS office that monitors charities and foundations...

State Regulator Orders Loan Modification Firm To Cease Business Activities In Idaho

Posted on April 09, 2009
From the Idaho Department of Finance:The Idaho Department of Finance has issued a cease and desist order against a Nevada-based business, Your Credit Angel, LLC, which purports to assist distressed homeowners in avoiding foreclosure by offering mortgage loan modification services...

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