The Home Equity Theft Reporter: Real Estate & Property Law

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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

NH Woman To Stand Trial In $550K Vegas Escrow Scam; Blames Now-Convicted Employee For Swindle That Left Existing Mortgage Unpaid In Real Estate Sale

Posted on December 27, 2009
In Hudson, New Hampshire, the Nashua Telegraph reports:A Hudson woman is set to stand trial in Las Vegas next month on charges that she stole $550,000 from a lending company while working as an escrow officer several years ago. Sheila K. Jones, 46, of [...

Failure To Properly Serve Junior Lienholder Not Fatal To Foreclosure Sale Where 1st Mtg Balance Exceeded Home Value; Court Says "No Harm, No Foul"

Posted on December 27, 2009
The Wisconsin Law Journal reports:Last year, the Wisconsin Court of Appeals addressed what remedies were available to a junior lienholder who failed to participate in a foreclosure action. Effectively, the court limited the bank to purchasing the mortgagor?s right of redemption...

Florida Bar Puts Heat On Attorney Affiliations With Upfont Fee Loan Modification Outfits; Opens 195 Foreclosure Rescue Probes This Year

Posted on December 26, 2009
In Broward County, Florida, the South Florida Sun Sentinel reports:A Coral Springs lawyer is being investigated by the Florida Bar Association for her involvement with a South Florida foreclosure rescue company, as trade regulators continue to file actions against attorneys involved in similar operations...

S. Florida Feds Announce Sentencing Of Four Brothers In Multi-Property, Family-Run Indoor Pot Farm Operation Financed By Mortgage Fraud

Posted on December 26, 2009
From the Office of the U.S. Attorney (Miami, Florida):Jeffrey H. Sloman, Acting United States Attorney for the Southern District of Florida, [and other law enforcement authorities], announced [last week's] sentencings of defendants Manuel Pupo, a/k/a Tata [sentenced to 87 months], Elieser Pupo, Serguey Pupo, Elmer Pupo, a/k/a Elmes, [each sentenced to 87 months] all formerly of Miami...

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Mix Up In Securing Foreclosed Property Results In Missing Items, Says Another Homeowner

Posted on December 26, 2009
In Henderson, Nevada, KLAS-TV Channel 8 reports:Imagine coming home and finding out your key no longer works and some of the things in your house are gone. That's what one Henderson man says happen to him, and like other reports in recent days, the homeowner says it's because of a mix up by a real estate agent securing a foreclosed home...

More On Trouble Facing South Florida Landlord Now In Foreclosure After Being Duped Into Renting High-Priced Condo To Porn Flick Operator

Posted on December 26, 2009
On Fisher Island, Florida, Miami New Times reports:Raul Quintana skids his silver Mercedes C550 to a stop in the dirt parking lot outside the trailer housing the management offices of Fisher Island, one of the nation's most expensive residential enclaves...

Wells Fargo Violated Veterans Administration Rules, Says Ex-Servicemember Facing Foreclosure In Court Papers; Seeks Dismissal Of Legal Action

Posted on December 25, 2009
In Jacksonville, Florida, First Coast News reports on local homeowner Nancy Gemmill, a retired U.S. armed services veteran, and her experience with Wells Fargo after she fell behind on her house payments on, reportedly, a $49,000 mortgage and asked for a loan modification:"When I contacted them, they said send me this paperwork, paperwork, paperwork...

Wells Fargo Eviction Efforts Against Michigan Animal Sanctuary Expected To Proceed After Holidays

Posted on December 25, 2009
In White Lake Township, Michigan, The Detroit News reports:Homeless is not how Joan Tucker envisioned spending the new year with her 24 rescue horses. Her 70-acre farm, tucked inside a grove of trees off of a main road, is in foreclosure. Wells Fargo Bank plans to begin eviction proceedings after Jan...

Storm Clouds Hover Over NYC Tenants In Predatory Equity-Owned Apt Buildings; Deteriorating Conditions, Looming Foreclosures Spell Trouble For Renters

Posted on December 25, 2009
In New York City, local media stories continue to report on, what could be, a looming disaster facing thousands tenants in rent-regulated apartment buildings in need of renovation bought by predatory equity real estate operators shortly before the market tanked...

Assisted Living Facility Administrator Ordered To Pay Back Elderly Resident In $46K Ripoff; Allegedly Dipped Into Unwitting Victim's Bank Account

Posted on December 25, 2009
In Ebensburg, Pennsylvania, The Tribune Democrat reports:A former administrator of a Johnstown assisted-living facility was put on probation for five years and ordered to pay $46,000 restitution for the money she stole from an elderly resident?s bank account by forging his name on checks...

Ex-Undertaker Faces Charges In Trust Fund Ripoff; Allegedly Failed To Escrow Cash Received For Prepaid Funeral Services, Used Money For Personal Needs

Posted on December 25, 2009
In Fredericksburg, Virginia, The Free Lance Star reports:[Funeral director Ambrose] Bailey is [...] facing 81 charges, including 27 counts each of grand larceny, embezzlement and violating the Pre-need Burial/Funeral Services Act. He is accused of taking money paid in advance for funerals and using it for personal purchases...

Idaho AG Settles Claims Against Loan Modification Outfit; Firm To Refund $12K+ To Homeowners

Posted on December 24, 2009
In Boise, Idaho, KIVI-TV Channel 6 reports:Twelve Idaho homeowners who paid a Meridian man, Paul Clarence Aughtry, IV, for mortgage loan modifications will receive refunds totaling $12,400 as a result of settlement agreements with State Attorney General Lawrence Wasden and the Idaho Department of Finance...

Current Cardinal, Ex-Sox Shortstop Among Those Swindled In Major Dominican Deed Theft Operation; Forged Docs Allegedly Used In Land Scam

Posted on December 24, 2009
In Santo Domingo, Dominican Republic, Dominican Today reports:An alleged ring which forged property titles, involving a suspect of conning the baseball player Julio Lugo out of RD$50 million, Judicial Branch employees, a Supreme Court auditor among them, and a Police colonel, was uncovered, with four people arrested and two others being sought...

NH Pair Accuse Local Real Estate Agent Of Pocketing Upfront Cash In Owner-Finance, Lease-Option Deals, Then Failing to Pay Now-Foreclosed Mortgages

Posted on December 24, 2009
In Hudson, New Hampshire, The Telegraph reports:[Sheila K.] Jones, who is currently going by the name Sheila Mitchell, called The Telegraph last week to complain about the Hudson real estate agent who provided owner financing for her unit in a duplex...

Mass. AG Indicts Six In Alleged Mortgage Fraud Flipping Scam; $12M+ In Fraudulently Obtained Loan Proceeds Used In Purchase & Sale Of 26 Homes

Posted on December 24, 2009
In Boston, Massachusetts, The Patriot Ledger reports:Six people, including a 29-year-old Brockton resident and a Walpole man who used to have a law practice in Quincy, were charged in a $2 million mortgage fraud scheme. They offered to buy long-unsold properties for below the listing prices, and recruited others to buy the properties as an investment with a promise to renovate them, Attorney

Florida AG Tags Loan Modification Company & Affiliated Attorneys With Civil Suit Alleging Illegal Upfront Fee Racket

Posted on December 23, 2009
From the Office of the Florida Attorney General:Attorney General Bill McCollum [...] announced he has filed a lawsuit against three businesses operating in Miami-Dade County, their principles and affiliated attorneys on allegations of deceptive and unfair trade practices regarding their involvement in a foreclosure rescue scam affecting homeowners nationwide...

Foreclosure Rescue Operator Accused Of Misappropriating $25K+ From Escrow Account Set Up In Connection With Sale Leaseback Of Home

Posted on December 23, 2009
In Chisago County, Minnesota, the Isanti-Chisago County Star reports:An Anoka man was charged with felony theft by swindle for allegedly stealing $25,425 from an escrow account his business was handling while acting as a middleman. Chris Alan Caliguire, 39, was charged in Chisago County Court on Wednesday, Dec...

Florida Judge's Writ Of Bodily Attachment Sends Wake-Up Call To Rent Skimming Condo Owners Delinquent On Maintenance Fees - Jail Time Could Await Them

Posted on December 23, 2009
In Fort Lauderdale, Florida, The Miami Herald reports:Condo investors delinquent on association fees could face jail time for thumbing their noses at court-ordered blanket receiverships. In a new first for distressed condo associations, a Broward circuit court judge last week commanded the sheriff, via a writ of bodily attachment, to physically bring owner Timothy Mohn to court to explain why he

Philly Feds Probe Alleged Rogue Paralegal For Fraud, Theft; Six-Figure Sums Stolen From Law Clients; Bad Acts Lead To Boss' Disbarment: Attorney

Posted on December 23, 2009
In Bucks County, Pennsylvania, the Philadelphia Inquirer reports:[O]netime paralegal [Bonnie Sweeten] is accused of getting her former boss' law license suspended, masquerading as a lawyer, stealing six-figure sums from clients, defrauding a lender, and using forgery and a fake passport to pose as her employer at a mortgage closing, according to documents filed in civil lawsuits and state

Pair From New York Bench Hailed For Meritorious Service In Home Foreclosure Cases

Posted on December 23, 2009
POPULAR(1) announced the year-end recipients of its bi-annual "Restore Integrity Award." Among the recipients are two New York judges who have received past mention here:Judge Arthur M. Schack for his appropriately strict scrutiny of foreclosure cases before him and corresponding mantra, ?(i)f you are going to take away someone?s house, everything should be legal and correct...

Closing Agent Accused Of Forging Subordination Agreement In Home Refinance, Pocketing Premiums w/out Issuing About 100 Title Insurance Policies

Posted on December 22, 2009
The Minnesota Department of Commerce: has recently accused the three companies, including Morris Abstract & Title Inc. of New Prague, of allegedly forging signatures or endorsements to gain access to and misappropriate consumer funds. According to their press release:In the spring of 2009, the department received a complaint from a bank that was refinancing a mortgage on a property in Scott

Fine Print In Standard HAMP Loan Mod Deal Allows Lenders To Sell Homes Out From Under Borrowers In Foreclosure, Despite Prompt Trial Period Payments

Posted on December 22, 2009
McClatchy Newspapers reports:Ten months after the Obama administration began pressing lenders to do more to prevent foreclosures, many struggling homeowners are holding up their end of the bargain but still find themselves rejected, and some are even having their homes sold out from under them without notice...

Bank Pockets Five Payments On Trial Loan Mod, Then Hammers Homeowner With Foreclosure Threat; Lender To Take 2nd Look After Media Reporter's Inquiry

Posted on December 22, 2009
In Tucson, Arizona, the Arizona Daily Star reports on the recent experience of Lori Ann Mitchell, a local homeowner who, while battling ovarian cancer, applied for a home loan modification from Wells Fargo to help her get back on her feet. Wells Fargo reportedly accepted her for a trial modification this summer under the federal Making Home Affordable plan, which reduced her monthly payments from

Foreclosure Screw-Up Leads To "Trash-Out" Of Las Vegas Woman's Home; Offered $5K For Her Trouble; "Suspects" Decline Comment

Posted on December 22, 2009
In Las Vegas, Nevada, KLAS-TV Channel 8 reports:A Las Vegas woman says she is the victim of a horrible mistake that has left her with an empty condominium and lots of questions. Nilly Mauck lived in her condominium for two years and said she never had problem until this week when a series of strange events eventually lead to a company coming into her home and throwing away everything she owned...

State Recovery Fund To Cough Up $116K+ To Compensate Elderly Victim Of Bogus Sale Leaseback Equity Stripping Scam Involving Licensed Real Estate Agent

Posted on December 21, 2009
In Hennepin County, Minnesota, the Minneapolis Star Tribune reports:An 87-year-old woman who was cheated out of her home of 50 years will receive $116,972 from the state, the largest pay-out in recent memory from a fund for victims of unscrupulous real estate professionals...

Mississippi Man Gets 9+ Years For Using Bankruptcy Court System In $300K+ Foreclosure Rescue Ripoff Targeting Financially Distressed Homeowners

Posted on December 21, 2009
In Jackson, Mississippi, WAPT-TV Channel 16 reports:A Jackson couple who admitted to defrauding several homeowners have been sentenced in federal court. Prosecutors said Robert and Deaundrea Power promised to help save their clients' homes, but took their money instead, leaving at least 10 victims with more than $300,000 in losses...

Atlanta Man Indicted For Racketeering In Alleged Upfront Fee Foreclosure Rescue Scam That Fleeced Homeowners Seeking Help

Posted on December 21, 2009
In Atlanta, Georgia, Fox 5 Atlanta reports:Homeowners featured in a FOX 5 I-Team investigation helped indict [Dwayne Green, aka Kelvin Anthony] in a foreclosure scheme. That investigation brought the scheme to the attention of investigators two years ago...

Bogus Representations About Mortgage-Backed Securities Leads To $296M Hit, Says MBIA In Suit; Claims 50%+ Of Insured Portfolio Face Value Charged Off

Posted on December 21, 2009
In New York City, Bloomberg reports:A Credit Suisse Group AG unit was accused in a lawsuit by MBIA Insurance Corp. of making fraudulent misrepresentations about mortgage-backed securities, causing the insurer to pay more than $296 million in claims. The complaint against Credit Suisse Securities (USA) LLC, filed [last week] in New York State Supreme Court in Manhattan, also names as defendants

Fannie, Freddie, Citi Announce Holiday Foreclosure Eviction Moratorium

Posted on December 21, 2009
United Press International reports:[Last week] Fannie Mae, Freddie Mac joined Citigroup Inc. in announcing they will suspend evictions of foreclosed homeowners until after the holidays. [...] This year, Citicorp beat out Fannie and Freddie to the holiday moratorium PR prize...

Plaintiff's Attorney In Wells Fargo "Ghetto Loans" Litigation Pegged To Pursue Similar Suit On Behalf Of City Of Memphis, Shelby County

Posted on December 20, 2009
In Memphis, Tennessee, the Memphis Daily News reports:Memphis and Shelby County governments have reloaded in preparation for a high-profile court battle over the area?s foreclosures and the lending practices that accompany them. Relman & Dane PLLC, a Washington-based law firm, is the new outside counsel chosen to work with the two local governments in preparing, filing and litigating a

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