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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

Mandatory Mediation Program To Go Into Effect For Florida Treasure Coast Foreclosure Actions

Posted on February 22, 2009
On Florida's Treasure Coast(1) (ie. Martin, St. Lucie, & Indian River Counties), TC Palm reports:Thousands of distressed Treasure Coast homeowners could have a better chance to stave off foreclosure as a result of a judicial order set to go into effect on March 13...

Central Florida Chief Judge Gives "First Responder" Training To Local Attorneys Assisting Homeowners Facing Foreclosure

Posted on February 22, 2009
In Central Florida, the Sarasota Herald Tribune reports:The chief judge in Manatee and Sarasota counties spent his lunch [Friday] training what he called the "first responders" for home rescue -- about 80 private attorneys willing to help homeowners in foreclosure on the cheap...

Mississippi Public Interest Law Firm, NCLC Training Attorneys, Counselors In Battle Against Foreclosure

Posted on February 22, 2009
In Jackson, Mississippi, WLBT-TV Channel 3 reports:[T]he [non-profit, public interest law firm] Mississippi Center for Justice with the help of the National Consumer Law Center in Washington is training attorneys, housing counselors and financial professionals to negotiate on behalf of troubled homeowners...

Illinois Woman Accused Of Swiping Deed, Looting Bank Account Of Her Widowed, 81-Year Old Mom; Abused POA, Says Civil Suit

Posted on February 22, 2009
In St. Clair County, Illinois, the Madison County Record reports:An elderly St. Clair County woman is suing her daughter for converting substantial sums of money for personal obligations, as well as fraudulently converting the deed to her house. Rose Hamkammer, an 81-year-old widow, is suing Lydia Funk in St...

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"Multiple Hat-Wearing" Mortgage Servicing Exec Back In The News; May Be "Contemporary Millinery Rival" To Hopper, Abzug, Says Respected B'klyn Jurist

Posted on February 21, 2009
A recent New York Times' story on mortage companies offering financially strapped homeowners an opportunity to modify their mortgage loans contained the following blurb:?Our biggest hurdle is reaching out and talking to people,? said Margery A. Rotundo, Ocwen?s senior vice president for residential loss mitigation...

Massachusetts Foreclosure Defense Class Action Asks Lenders, "Who The Hell Owns These Promissory Notes???"

Posted on February 21, 2009
In Mattapan, Massachusetts, WBZ-TV Channel 38 reports:"I thought this was going to be my American dream," said Deborah Nicholas, looking at her Mattapan home. But two years after purchasing the green-trimmed two-family house, Deborah Nicholas is living the new American nightmare...

Moving Cases From State To Federal Court: A Defense Ploy To Make Filing Suit More Costly, Burdensome On Individual Plaintiffs?

Posted on February 21, 2009
A recent story in the Toledo Blade involved an Ohio couple fighting off foreclosure by challenging the right of mortgage servicing companies and trustees to commence foreclosure proceedings. The foreclosing lender responded to the challenge by employing a defense tactic not uncommon in consumer cases: it is seeking to move the case from a state court to a federal court...

Mo. Homebuyer In Failed Contract For Deed Gets Deposit Refund From Rent-Skimming Owner/Agent After Notification That TV Station Was Running Story

Posted on February 21, 2009
In Republic, Missouri, KY3 reports:With credit getting ever tighter, you might be considering a contract for deed to try to buy a home. One woman hopes you'll reconsider. After thinking she'd be in her home for years, Edna Nelson had to pack up her life this montlh after living in her dream house for just eight months...

Wife Survives Failed Attempted Double Suicide, Arson Fire Of Home Lost In Foreclosure; Now Faces Charges In Death Of Husband

Posted on February 21, 2009
In Clark County, Washington, The Columbian reports:A former Sifton woman faces an arson charge in connection to a two-alarm house fire that killed her husband nearly two years ago. Prosecutors filed a first-degree arson charge against Sandra J. Cooper, 62, last week in connection to the May 31, 2007, fire...

Owners Of $1M+ Downtown NYC Apartments Face The Boot As Condo Developer Faces Foreclosure; Association Broke, Utilities Shutoff Threatened

Posted on February 21, 2009
In Battery Park City, the New York Post reports:Dozens of financial-industry professionals may lose their new Battery Park City condos because the building's developer allegedly defaulted on debt payments, which forced the property into foreclosure and threatens an immediate shut-off of heat and electricity...

Rental Of Foreclosed Home By Former Owner To Two Separate Unwitting Victims Leads To Dispute That Lands One In Jail On Assault Charges

Posted on February 21, 2009
In Springfield, Massachusetts, The Republican reports:A Springfield man who was tricked into believing he could live in an apartment that had been rented to someone else was sentenced to the time he spent in jail awaiting trial, after the prosecution and defense detailed the events that led to his arrest and detention on a variety of charges...

"Rubber Stamp" Method vs. Mandatory Mediation: CBS News Goes Into The Courtroom For A Look At Foreclosure Adjudication

Posted on February 20, 2009
The CBS Evening News has a story on its website contrasting the approaches being taken in adjudicating foreclosures in two different courtrooms:The "Rocket Docket" in Fort Myers, Florida (described in The Wall Street Journal article, A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)), and The swap

Legal Aid To File Predatory Lending, Fraud Suit On Behalf Of Foreclosed California Homeowner In Attempt To Prevent Loss Of Family Home

Posted on February 20, 2009
In Chico, California, the Chico Enterprise Record reports:A woman facing eviction from the home her parents left her may be able to remain there at least temporarily. Emily Fisher, a staff attorney with Legal Services of Northern California [...] said she and other lawyers are working to enable Jan Poythress to stay in her house and, they hope, to get it back...

"Courtroom 676" - Home Of Philadelphia's Residential Mortgage Foreclosure Diversion Pilot Program Back In The News

Posted on February 20, 2009
Philadelphia, Pennsylvania's Courtroom 676 - Home of the city's Residential Mortgage Foreclosure Diversion Pilot Program received mention in recent media reports. For the stories, see:CBS Evening News: Glut Of Foreclosures Clogs Courts (A Look At "Fast-Court" In Florida And An Innovative Program In Philly For Those Facing Losing Their Homes), andWPVI-TV Channel 6 (Philadelphia): Save Your Home

Minn. Cops Suspect Two In Alleged I.D. Theft Racket Used To Scam Banks Out Of Million$; Involved About 50 Bogus Home Sales; Many Now In Foreclosure

Posted on February 20, 2009
In Minnetonka,. Minnesota, KAAL-TV Channel 6 reports:Police say two suspects took identity theft to a new level?using stolen ID?s, elaborate forged documents, and help from industry insiders to defraud mortgage banks out of millions of dollars in the Metro and across the country...

NYC Feds Charge Four In Alleged Cash Back, Mortgage Scam; Ex-Cons, Public Housing Tenants Recruited As Straw Buyers; Homes End Up Foreclosed

Posted on February 20, 2009
The New York Post reports:The feds [Wednesday] charged four people with running a $10 million scam that used ex-cons and public-housing tenants to secure subprime loans from banks tied to the mortgage meltdown.***The swindle - involving distressed properties in Brooklyn, Queens, Long Island and Westchester - targeted lenders, including Fremont Investment and Loan, First Franklin, and Mortgage

Dozen Suspects Cop Pleas In Southwest Cash Back, Flipping, Mortgage Scam

Posted on February 20, 2009
From the Arizona Office of the U.S. Attorney:Marcus Dozzell, 34, of Henderson, Nevada was sentenced [this week] to 45 months in prison for his conviction in April 2008 for leading a mortgage fraud scheme in Phoenix, Arizona, San Diego, California and Las Vegas, Nevada...

Maryland Feds Run Up String Of Guilty Pleas In Mortgage Related Fraud Scams

Posted on February 20, 2009
The Maryland Office of the U.S. Attorney has run up a string of real estate/mortgage related fraud convictions this month, as evidenced by these press releases:REAL ESTATE AGENT PLEADS GUILTY IN SCHEME TO DEFRAUD MORTGAGE LENDERS (12 Fraudulently Obtained Properties End Up in Foreclosure);THIRD DEFENDANT IN MORTGAGE FRAUD SCHEME PLEADS GUILTY ANDTWO MORE DEFENDANTS INDICTED (Terrence White Admits

Justice Trampling Over Homeowners' Rights As "Rocket Docket" Foreclosure Hearings Before "Rubber-Stamping" Judges Can Last Less Than 20 Seconds

Posted on February 19, 2009
In Fort Myers, Florida, The Wall Street Journal reports:Hoping to save her house, Saundra Hill Scott arrived at the county courthouse clutching dog-eared mortgage bills and letters from her lender. She need not have bothered. The foreclosure hearing lasted less than 20 seconds, with Judge John Carlin asking her two questions: Are you current on your mortgage and are you living in the home? She

Suspected Head Of Alleged $100M Mortgage Fraud/Flipping/Ponzi Scheme Admits Screwing Lenders, Investors, Says FBI Agent

Posted on February 19, 2009
In Sacramento, California, News10.net reports:An FBI agent investigating a suspected $100 million real estate Ponzi scheme said the man at the center of the probe admitted deceiving his investors. Lawrence Leland "Lee" Loomis, 52, is the founder of Loomis Wealth Solutions and several related companies that the FBI and IRS believe defrauded hundreds of investors and lenders in a multi-layered

ACORN To Kick Off National Civil Disobedience Campaign In Support Of Families Facing Foreclosure Eviction

Posted on February 19, 2009
The New York Times reports:As resistance to foreclosure evictions grows among homeowners, community leaders and some law enforcement officials, a broad civil disobedience campaign is starting in New York and other cities to support families who refuse orders to vacate their homes...

Binding Arbitration Bites Builders' Buyers; Hearing "A Kangaroo Court," Says One Homeowner Feeling Screwed Over In Purchase Of New Home

Posted on February 19, 2009
The Atlanta Journal Constitution reports:Greg and Kimberly Cole and their three children have slept in cars, in a tent, in a motel, at friends? houses ? all to avoid staying at their $429,000 house in Marietta. The Coles say construction problems at their 3,400-square-foot house led to cracks, leaks and mold that?s sickened them...

Mother Nature Accused Of Snatching Property Right Out From Under Celebrity Homeowners; No Charges Pending, Locals Fighting Back

Posted on February 19, 2009
In the Hamptons area of Long Island, the New York Post reports:First, property values in the Hamptons started sinking - now it's the properties themselves. Beachfront homes in the Hamptons hamlet of Wainscott - including the one belonging to cosmetics heir and former mayoral candidate Ronald Lauder - are slipping into the ocean, thanks to severe erosion brought on by high winds...

Utah AG Busts Alleged Equity Stripping, Foreclosure Rescue Ring; Hurting Homeowners Get Boot From Homes As Unwitting Straw Buyers Left Holding The Bag

Posted on February 18, 2009
From the Office of Utah Attorney General Mark Shurtleff:Four people were arrested [last week] for allegedly defrauding financially troubled homeowners out of more than $1 million in property.(1) The alleged victims were all Polynesian and were offered new mortgages to help save their homes from foreclosure...

Developers, Construction Lenders Nervous As Buyers Begin To Claim Equitable Liens, File Lis Pendens, Threaten Foreclosure To Force Return Of Deposits

Posted on February 18, 2009
In South Florida, the Daily Business Review reports on a tactic some disgruntled customers of condo developers are using to force a return of deposits paid on purchase contracts that have yet to close:[F]rustrated contract holders [...] have stepped up their fights against construction lenders, claiming they have an equitable interest in the properties where they planned to buy a condo...

The Publicity Continues For The "Produce The Note" Strategy In Fighting Foreclosure

Posted on February 18, 2009
The Associated Press yesterday ran a story on the so-called "Produce The Note" strategy used in defending homeowners facing foreclosures against careless lenders and sloppy, "foreclosure mill, assembly-line" law firms who have contributed to a nationwide mess...

Nevada Regulators Have Hands Full With Complaints About Foreclosure Consultants, Loan Modification Firms; Lawmakers Look To Close Loopholes

Posted on February 18, 2009
In Reno, Nevada, the Reno Gazette Journal reports:[E]very day, agencies such as the state's Mortgage Lending Division and Consumer Affairs Division are contacted by home owners victimized by fraud. [...] Minorities who have difficulty communicating in English are especially susceptible, said Joe Waltuch, commissioner of the State of Nevada Mortgage Lending Division...

Vacant Multi-Million Dollar Homes Littered Throughout Greenwich, Connecticut

Posted on February 18, 2009
The New York Post reports:It's a gold-plated ghost town. Almost 50 mansions built on spec for the hedge-fund set - and priced from $5 million to upwards of $25 million - sit empty in Greenwich, Conn., where the real-estate market has tanked. [...] Those who still have cash can find spectacular, never-occupied estates in move-in condition, complete with wine cellars for their Bordeaux and Sub-Zero

Minneapolis Non-Profit Solicits, Obtains Sale-Leaseback Offer On Building To Bail Itself Out Of Possible Foreclosure; City Debt To Be Paid In Full

Posted on February 17, 2009
In Minneapolis, Minnesota, Finance and Commerce reports:St. Paul-based Wellington Management Inc. has a deal to buy the Minneapolis home of the nonprofit Green Institute, an environmental consultant/salvage center that has struggled to stay current on loans from the city and its bank...

Another Rent-Paying Section 8 Tenant Caught Up In Foreclosure Eviction May Be Failing To Exercise Special Rights Under Federal Law

Posted on February 17, 2009
In Pittsburg, California, the Contra Costa Times reports:Pittsburg resident Casandra Jackson-Gordon is moving ? again. For the second time in less than two years, Jackson-Gordon says she has lost her subsidized rental home to foreclosure. The first time, she also lost her $1,500 security deposit ? but the bank offered her $3,500 to move out fast so it could sell the property...

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