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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

Missouri AG Tags Two Firms With Civil Suits Alleging Bogus Refinancing Offers

Posted on April 21, 2009
In St. Louis, Missouri, the St. Louis Buisness Journal reports:Missouri Attorney General Chris Koster sued two mortgage brokerages Monday for allegedly misleading consumers with letters that appeared like they were from banks or the government. ?These are outrageous misrepresentations that are illegal in Missouri,? Koster said at a news conference Monday in St...

Tampa Feds Have Mortgage, Loan Modification Fraud In Its Crosshairs; 200+ Indictments For 2009 Possible

Posted on April 20, 2009
In Tampa, Florida, TIME Magazine reports:[T]he U.S. Attorney's office in the Middle District of Florida tells TIME, federal agents and prosecutors have embarked on a "surge" of mortgage and loan-modification fraud investigations that could result in more than 200 indictments this year in the Tampa region alone...

Loan Modification Firms Begin Using Perceived "Attorney Defense" Loophole To Pocket Upfront Fees From Homeowners Facing Foreclosure

Posted on April 20, 2009
In Central Florida, The Tampa Tribune reports:[I]t's against the law in Florida to charge up-front fees for foreclosure help. [...] Federal and state authorities are investigating, prosecuting and shutting down companies that violate the law. But some have found what they think is a loophole in the law: Florida attorneys are exempt from the ban on charging up-front fees...

Judge Halts Foreclosure Action As Lender Lacks Promissory Note, Ditches Court Hearing

Posted on April 20, 2009
In Levy County, Florida, the Chiefland Citizen reports:It?s a story right off the national news: Homeowners fighting to prevent foreclosure on their property ask a lender to produce the original promissory note in legal proceedings. But in Levy County, it is the estate of Kathryn F...

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Data Management Firm, Assembly Line Law Firm Scorched By Scathing Court Ruling That Shines Light On Filing Screw-Ups In Consumer Foreclosure Cases

Posted on April 20, 2009
In Philadelphia, Pennsylvania, Bloomberg News reports:Lender Processing Services Inc.(1) fell 29 percent after Dow Jones News Service reported that the company was the subject of an inquiry by the U.S. Trustees Office, an arm of the Justice Department that monitors bankruptcy courts...

Hawaii Feds Pick Up Guilty Pleas In Equity Stripping Foreclosure Rescue Scam

Posted on April 19, 2009
In Honolulu, Hawaii, the Hawaiian Advertiser reports:[Rick Kealoha Pa Jr.] faces five years in prison, a $250,000 fine and payment of restitution to an evicted homeowner after pleading guilty yesterday to aiding a Honolulu mortgage company accused of orchestrating a foreclosure bailout scheme and stealing hundreds of thousands of dollars from banks and distressed homeowners...

Dementia-Suffering Foreclosure Rescue Scam Victim Now Lives Penniless; Brooklyn DA's Office Slow To Pursue Prosecution

Posted on April 19, 2009
A recent article in The New York Times on foreclosure rescue scams contained this excerpt describing one victim who was swindled out of her home:[T]here is Dr. Janet Mitchell, 58, the daughter of a butler and a maid who became chief of perinatology at Harlem Hospital Center and a national advocate for black pregnant women with H...

Florida Bankruptcy Judge Questions Judgment Of Lenders Opposing Proposed Loan Modification Legislation

Posted on April 19, 2009
In Miami, Florida, the Miami Daily Business Review reports:U.S. Bankruptcy Judge A. Jay Cristol said the banking and mortgage lending industry is either greedy, stupid or both when it comes to opposing legislation that would allow mortgage modifications for homeowners who declare Chapter 13 bankruptcy...

Low Income L.A. Tenants Score $1M & Strengthened Rights In Discrimination Settlement Against Hotel, City

Posted on April 19, 2009
In Los Angeles, California, Daily Journal reports:A group of current and former low-income tenants of the Alexandria Hotel who claimed they were victims of discrimination, deplorable housing conditions and illegal evictions will receive nearly $1 million under a settlement reached with the building's owners and the city of Los Angeles...

Individuals In Legal Proceedings Unrepresented By Counsel On The Upswing, Say Courthouse Insiders

Posted on April 18, 2009
The New York Times reports:[F]inancially pressed people [...] are representing themselves more and more in court, according to judges, lawyers and courthouse officials across the country, raising questions of how just the outcomes are and clogging courthouses already facing their own budget woes as clerks spend more time helping people unfamiliar with forms, filings and fees...

Orange County Non-Profit Legal Services Report Record Demand

Posted on April 18, 2009
In Orange County, California, the Orange County Register reports:[T]he Legal Aid Society ? as well as the Public Law Center ? report that more and more individuals [...] have spiraled into poverty and are now coming to their clinics seeking help. Dozens of other legal nonprofits statewide also attest to increased demand...

Indiana AG, Local Officials Warn Against Scammers Using Forged Documents To Steal, Borrow Against, Houses

Posted on April 18, 2009
In Indianapolis, Indiana, The Fort Wayne Journal Gazette reports:The Indiana attorney general cautioned homeowners Thursday against a new mortgage fraud that lets thieves steal homes and walk away with thousands of dollars in fraudulent loans. Attorney General Greg Zoeller joined the Indiana Recorders Association and the Association of Indiana Counties in Indianapolis to publicize the scheme...

Prosecutor Seeks Jail Time For Property Owner On "Weed Possession" Charges

Posted on April 18, 2009
In Chandler, Arizona, The Arizona Republic reports:A Chandler prosecutor wants former downtown business owner Pablo Pescador to go to jail for leaving weeds and debris on his property. The businessman's lawyer said that would be outrageous. "This is ludicrous; the case is out of control," said Jonathan Dessaules, attorney for 48-year-old Pescador, who lives in Queen Creek...

Squatter Living In $700K Foreclosed Home Charged With Rigging Meter In Theft Of City Water

Posted on April 18, 2009
In Sugar Grove, Illinois, WLS-TV Channel 7 reports:Suburban police arrested a man accused of illegally moving into a mansion after its owners were evicted. The alleged squatter is charged with two felonies. [...] Sugar Grove police suspect this is happening more than anyone is aware but they say the suspect in this case was brazen...

County Turns On The Tap At S. Florida Condo Ravaged By Maintenance Fee Delinquencies, Foreclosures

Posted on April 17, 2009
The Miami Herald reports:Water is flowing again at the 310-unit Miarassou Condos in Miami-Dade County. County officials shut off water to the residents earlier in the week because the condo's association bounced a check and failed to pay a $109,000 past due bill...

No Foreclosure Fraud Problems On Staten Island, Says Prosecutor's Office As DA Donovan Slumbers Cluelessly At The Wheel

Posted on April 17, 2009
In New York City, The New York Times reports:[F]or years many district attorneys viewed mortgage fraud as taking a second seat to traditional show-stoppers: homicides, counterfeiting, burglaries and even gambling. At least one New York district attorney still takes that view...

Miami Judge Gives Struggling Condo Associations New Tool In Battle Against Rent-Skimming Unit Owners Delinquent On Maintenance Fees

Posted on April 17, 2009
In Opa Locka, Florida, the Miami Daily Business Review reports:Ebenezer Boakyee?s condo board should be collecting nearly $11,000 in maintenance fees every month. Instead, it barely banks $3,000 because many of the units are owned by investors who have stopped paying their association fees...

Hundreds Of Residents In 310-Unit S. Florida Condo Face Water Shutoff As Delinquent Maintenance Fees Result In Unpaid Bills; 100+ Units In Foreclosure

Posted on April 17, 2009
In Hialeah, Florida, the The Miami Herald reports:The cash crisis plaguing South Florida's foreclosure-wracked condominiums reached a apex Wednesday for the Mirassou Condominium in Hialeah after county government shut off the water to residents because the association failed to pay its water bill...

L.A. City Attorney Files Forgery, Grand Theft Charges In Alleged Refinancing Scam That Left One Couple Facing Foreclosure

Posted on April 17, 2009
In Los Angeles, California, The Daily Breeze reports:The Los Angeles City Attorney's Office announced Tuesday it has filed criminal charges against five real estate and loan brokers who allegedly refinanced a Harbor Gateway couple's mortgage with forged documents, ripping them off and putting them in jeopardy of foreclosure...

L.A. Bar To Train Volunteers For Foreclosure Defense Effort

Posted on April 17, 2009
In Los Angeles, California, Metropolitan News Enterprise reports:The Los Angeles County Bar Association Barristers are seeking volunteers to counsel homeowners facing foreclosure at one-day clinics to be held May 2. The organization said yesterday it has partnered with the Legal Aid Foundation of Los Angeles, Neighborhood Legal Services, Public Counsel and Bet Tzedek to provide the clinic, at

NYC Prosecutors Slow To Prosecute Foreclosure Rescue Scams? "We Gift-Wrapped These Cases" Complains Brooklyn Legal Services Attorney

Posted on April 16, 2009
In New York City, The New York Times reports:Many New York City prosecutors reacted slowly and brought few indictments as foreclosure swindles and mortgage fraud swept the city during the past decade, allowing problematic operators to flourish even as the nation?s housing market rose and crashed, according to housing lawyers, prosecutors and federal reports...

Son Accused Of Swiping 158K In Cash, Property From Alzheimer's-Suffering Mom

Posted on April 16, 2009
In Pompano Beach, Florida, WTVJ-TV Channel 6 reports:With Mother's Day just around the corner (May 10, kids), Marco Secolo gave his mother perhaps the worst early gift in the history of the mom-worshipping holiday -- he ripped her off. Rose Secolo, 74, is suffering from Alzheimer's, and so her 39-year-old son, taking a page from the Anthony Marshall playbook, schemed her out of about $158,000 in

California Man Charged With Misappropriating Proceeds From Reverse Mortgage Secured By Elderly Woman's Home

Posted on April 16, 2009
From the Office of the San Francisco, California District Attorney:San Francisco District Attorney Kamala D. Harris announced today that John McTaggart, age 45, [...] was arraigned on charges of residential burglary, grand theft and grand theft from an elder for allegedly stealing $140,000 from an 86-year-old San Francisco woman as part of an annuity scam...

Land Registry Fraud A Concern In GB; �36M In Payouts For Errors, Deed Thefts Since '05

Posted on April 16, 2009
In London, England, the BBC reports:A major reform of property registration in England and Wales is needed to prevent "an exponential rise in fraud", a building society boss has said. Nationwide executive director Matthew Wyles said: "The system is too open and needs a root and branch review...

Mortgage Servicing "Scoundrels" Among Six To Receive Up To $9.9B In Incentive Payments To Rework Troubled Home Loans

Posted on April 16, 2009
The Associated Press reports:The Obama administration on Wednesday named the first six companies participating in a $75 billion program designed to help millions of struggling homeowners avoid foreclosure. The administration said the companies - including some of the mortgage industry's biggest players - will receive a maximum of $9...

Basic Training In Wisconsin Foreclosure Defense

Posted on April 16, 2009
From the State Bar of Wisconsin:Attend an upcoming presentation of the Representing Homeowners in Default and Foreclosure seminar. This program is designed to give you the basic training and skills you need to join attorneys around the state who are working to help Wisconsin homeowners in financial distress...

Maryland Feds Bag Two More Guilty Pleas In Equity Stripping, Sale Leaseback, Foreclosure Rescue Scam

Posted on April 15, 2009
From the Office of the U.S. Attorney in Maryland:Cheryl Brooke, age 52, of Upper Marlboro, Maryland, and Winston Thomas, age 43, of New Carrollton, Maryland pleaded guilty [Monday] to their participation in a scheme in which they offered to help financially-vulnerable individuals save their homes from foreclosure, and instead defrauded homeowners and mortgage lenders, announced United States

MERS Was Set Up By Lenders To Handle Predatory Loans & Keep Their Hands Clean, Says Reno Attorney

Posted on April 15, 2009
In Reno, Nevada, KOLO-TV Channel 8 reports:A local woman wins an 11th-hour temporary restraining order halting the foreclosure on her home. Her attorney says her case could be the key to keeping thousands more in their homes.***[Attorney Bob] Hager says the real significance of this case is that, in addition to Executive Trustee Services and GMAC Mortgage, it exposes and names MERS...

Attorney, Justice Of The Peace Held Liable For Damages In Now-Deceased Husband's Forgery Of Wife's Signature To Refinance Home

Posted on April 15, 2009
In New South Wales, Australia, On Line Opinion reports:[W]hen [Kaylene] Hall's husband found himself in financial difficulties, he told a friend he would refinance the family home to pay his debts. His wife was the only obstacle. If she found out how badly he was running his tank manufacturing business, their marriage would be over...

Head Of Maryland Equity Stripping Foreclosure Rescue Scam Cops Plea; Bogus Sale Leaseback Deals Used To Rip Off Victims' Home Equity

Posted on April 15, 2009
From the Office of the U.S. Attorney in Maryland:Michael K. Lewis, age 57, of Takoma Park, Maryland pleaded guilty [Tuesday] to conspiracy and bankruptcy fraud arising from a scheme in which he and his conspirators(1) offered to help financially vulnerable individuals save their homes from foreclosure, and instead defrauded homeowners and mortgage lenders, announced United States Attorney for the

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