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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

Stolen Identities, Phony Documents Used In NYC Deed Theft; Leaves One Victim With Ruined Credit & Unwitting Widow Facing Foreclosure

Posted on December 16, 2008
In Jamaica, Queens, the New York Daily News reports on a scam where a con man was paid $1,000 by an alleged fraud ring to show up at a closing pretending to be a homeowner who has been dead for 19 years to sell a home from out from under the deceased homeowner's widow...

Detroit Feds Bust Two Dozen Indoor "Purple Pot" Farms; I.D. Theft, Forgery, Phony Appraisals Allegedly Used To Get Mortgages On Some Of The Houses

Posted on December 16, 2008
In Detroit, Michigan, The Associated Press reports: A major marijuana ring in southeastern Michigan involved 22 people and two dozen homes where a potent variety of purple pot was secretly grown and sold, according to a federal indictment unsealed [last week]...

Fannie To Extend Moratorium On Foreclosure Evictions; Freddie Mum On Further Action

Posted on December 15, 2008
The Wall Street Journal reports: Fannie Mae is finalizing a national policy that will allow tenants to remain in their homes even if their landlord goes into foreclosure -- a landmark decision for tenants. The policy will be in effect Jan. 9, Fannie Mae said Sunday, and reflects growing pressure on the mortgage company from a legal-aid group that threatened to sue over recent evictions...

Mass AG Obtains Injunction Against Upfront Fee Foreclosure Rescue Operator; 1st Lawsuit Invoking New State Regs Targeting "Home-Saving" Activities

Posted on December 15, 2008
In Essex County, Massachusetts, The Boston Globe reports: The office of Massachusetts Attorney General Martha Coakley said [Friday] that she has obtained a temporary restraining order against David Coleman, "a Methuen mortgage broker who allegedly preyed upon financially distressed homeowners by representing himself to be an attorney and a bankruptcy expert who offered to file bankruptcy

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Central Florida Non-Profit Loan Modification Organization Leaves Legal Aid Attorney Concerned

Posted on December 15, 2008
In Daytona Beach, Florida, the Daytona Beach News Journal ran a story on the Helping Hands Foundation, reportedly a non-profit, 501(c)(3) organization with the mission of doing loan modifications for homeowners facing foreclosure. Foundation directors George and Daisy Raisler(1) gave a free foreclosure prevention/education public workshop this week in Daytona Beach with 20 attendees...

Nix "Cash For Keys" Deals & Fight Lenders In Court Instead, Say Boston Law Students To Area Tenants Facing Foreclosure Eviction

Posted on December 15, 2008
In Boston, Massachusetts, The Harvard Crimson reports on a group of Harvard law students who are encouraging tenants in foreclosed homes to refuse "cash for keys" offers from lenders and fight foreclosure evictions in court instead. [W]orking at the Harvard Legal Aid Bureau, [third-year law students Nicholas J...

NYC Pro Bono Effort Taking Hold As Attorneys Answer The Call, Step Up To The Plate

Posted on December 15, 2008
In Brooklyn, New York, the Brooklyn Daily Eagle reports: [I]n Kings County, the Volunteer Lawyers Project is spreading. And despite the economic crisis that this country is facing, the project is expanding ? perhaps even surging ? with new attorneys willing to work for free...

Long Island DA Announces Ongoing Mortgage Fraud Probe; Nets 27 Suspects To Date Involving $9M In Mortgages

Posted on December 15, 2008
In Hauppauge, New York: Suffolk County District Attorney Thomas Spota [last Thursday] announced the arrests of 27 suspects thus far in an ongoing investigation of mortgage fraud that has found nine million dollars in fraudulent mortgages and equity thefts secured with non-existent and overstated assets by scammers to obtain fraudulent mortgages...

Cleveland-Area Mortgage Fraud Task Force Bags Five Suspects Accused Of Scam Involving 18 Homes, All Ending Up In Foreclosure; One Victimized By Arson

Posted on December 15, 2008
In Cuyahoga County, Ohio, The Cleveland Plain Dealer reports: A Beachwood businessman and four other men were arrested Thursday and indicted in U.S. District Court as part of a wide-ranging mortgage fraud investigation.(1)***All 18 homes - 17 in Cleveland and one in Cleveland Heights - wound up in foreclosure after Lesniak stopped making mortgage payments...

Largest Ponzi Scheme In History? Investors Belted For As Much As $50B

Posted on December 14, 2008
In New York City, a story getting intense coverage in the financial world on Wall Street over the last couple of days involves the uncovering of what could be the biggest Ponzi scheme in history. While the story has nothing to do with this blog, it deserves mention as a handy reminder that it isn't only the poor, unsophisticated and otherwise vulnerable that are susceptible to being ripped off

Despite Intimidating Letters To The Contrary, NJ Tenants Have Protection From Foreclosure Eviction

Posted on December 14, 2008
In Jersey City, New Jersey, The Jersey Journal reports on the growing practice by real estate agents and others of sending intimidating letters to renters in foreclosed homes in attempts at forcing them to move, despite New Jersey law protecting them from foreclosure eviction...

Inbox At Miami Courthouse Jammed With New Foreclosure Filings; Clerks Enjoy New-Found Job Security Working Overtime, Weekends Despite Budget Cuts

Posted on December 14, 2008
In Miami, Florida, WFOR-TV Channel 4 reports: In 2007 the clerk's office took in a record 25,000 foreclosure filings. This year they have already doubled that number. It's no surprise they're now open on weekends to handle these extra cases, and soon might open up a night shift as well...

San Bernardino County Man Charged In Theft Of Elderly Couple's Home; Allegedly Pocketed $250K In Subsequent Refinance

Posted on December 14, 2008
In Southern California, the San Bernardino County District Attorney's Office announced that investigators in its Real Estate Fraud unit arrested real estate agent Anthony Vargas, 34, at his office in Rancho Cucamonga, CA.(1) According to the DA's press release: [I]n February 2008, Vargas fraudulently acquired a property in Rancho Cucamonga that belonged to an elderly Rancho Cucamonga couple.

Closing Agent Get 21 Months In Prison For Pocketing Escrow Cash Intended To Pay Off Existing Mortgages; Title Underwriter Takes $877K Hit

Posted on December 14, 2008
The U.S. Attorney for the District of Maryland announced Monday that Marny Arlen Bailey, age 35, of Highland, Maryland, was sentenced to 21 months in prison followed by five years of supervised release for wire fraud in connection with a scheme to steal real estate settlement funds which were intended to pay off the homeowners? previous loans...

Asphalt Supplier Stiffed By Contractor Slaps Lien On Paid-Up Homeowner

Posted on December 14, 2008
In Gresham, Oregon, KGW-TV Channel 8 reports: [A] local paving company has been hurting consumers because it's not paying bills. [Brian] Lee is one of those consumers. He was actually happy with asphalt work done by Gresham Paving at a duplex he owns, a job for which he paid $5,400 up front...

Three California Men Cop Pleas On Charges Of Purchasing Home With Stolen I.D.

Posted on December 13, 2008
In Southern California, the San Bernardino County District Attorney's office announced the sentencing of: real estate agent Jose Oliva, 33, of Fontana (grand theft, 180 days in county jail, 3 years probation);Gabriel "Carlos" Hernandez, 36, of Victorville (forgery, 180 days in county jail, 3 years formal probation for forgery); andreal estate agent Luis Robles, 46, of San Bernardino, (forgery,

Court-Appointed Conservator Convicted Of Milking Elderly Man Of Assets, Leaving Him Facing Foreclosure

Posted on December 13, 2008
In Lakeport, California, Lake County News reports: Following a five-week trial a local woman has been convicted of felony financial elder abuse and neglect. On Wednesday, a jury convicted Glenhaven resident Shauna Michelle Brewster, 53, of one count of felony financial elder abuse and one felony count of elder abuse/neglect, according to Senior District Attorney Rachel Abelson [...

Another Fresno Man Sought For Allegedly Renting Out To Unwitting Tenants Vacant Foreclosed Homes Belonging To Others

Posted on December 13, 2008
In Fresno, California, KMPH-TV Channel 26 reports: Fresno police are warning valley residents of another foreclosure scam artist. At least three families have now come forward, saying they are out thousands of dollars after renting homes from a man named Joe Rodriguez...

Providence Housing Activists Threaten Foreclosed Home Blockades In Attempt To Halt Evictions

Posted on December 13, 2008
In Providence, Rhode Island, WPRI-TV Channel 12 reports: Housing advocates are threatening to begin blockading foreclosed homes if banks try to evict rent-paying tenants who live there.For more, see Tenants to stage foreclosure protest (Threaten to blockade homes if bankstry to evict)...

Rent Scams Hitting Northern Virginia

Posted on December 13, 2008
In Northern Virginia, The Washington Post reports: [I]n the past 18 months, the foreclosure debacle has pushed tens of thousands of area residents into the rental market, many with crippled credit and a desperate need for housing. Waiting for them is a new cast of swindlers, cheats and real estate sharks ready to prey on the weak and needy...

Rent Scams Target Landlords As Well As Tenants

Posted on December 13, 2008
In Santa Cruz County, California, the San Jose Mercury News reports: With foreclosures rising and affordable rentals hard to find in Santa Cruz County, scammers are teasing prospective tenants and landlords with offers on Craigslist that are too good to be true...

Texas AG, State Legislator Propose Law Targeting Upfront Fee, Sale Leaseback Foreclosure Rescue Scams

Posted on December 12, 2008
From the Office of the Texas Attorney General: Texas Attorney General Greg Abbott and state Sen. Craig Estes (Wichita Falls) announced a legislative initiative that will help protect Texas homeowners from foreclosure rescue scams. If enacted, the proposal would enhance the Attorney General?s enforcement authority, provide new protections for homeowners, and place new restrictions on foreclosure

Utah AG Raids Foreclosure Rescue Operator's Office, Home; Investigators Mum About What They're Looking For

Posted on December 12, 2008
In Midvale, Utah, KUTV Channel 2 reports: Investigators from the Utah attorney General's Office spent over nine hours searching inside the offices of Utah Financial in Midvale. What they were searching for, they would not say. The officers also searched a nearby building which houses Legends Title...

California Homeowner In Foreclosure Loses $1K To Purported Loan Modification Firm

Posted on December 12, 2008
In San Luis Obispo, California, New Times SLO reports: [Homeowner Donna] Scarpa said a self-described foreclosure prevention consultant with a company calling itself U.S. Foreclosure Freedom met with her and her husband in August. Scarpa paid $997 up front by credit card to save the house; that was originally scheduled to be in September...

Las Vegas Man Cops Plea In Foreclosure Rescue Scam

Posted on December 12, 2008
From the Office of the Nevada Attorney General: Nevada Attorney General Catherine Cortez Masto announced [...] that Mathew Marlon, age 64, of Las Vegas, pled guilty [...] to nine (9) gross misdemeanor counts of Making False Representations Regarding Title and one (1) gross misdemeanor count of Making a Fraudulent Conveyance in connection with a mortgage foreclosure rescue scam involving Las Vegas

Disabled Michigan Woman Fighting Eviction After Being Screwed In A Sale Leaseback, Foreclosure Rescue Scam

Posted on December 12, 2008
In Sturgis, Michigan, Workers World reports the story of a disabled homeowner who is now fighting off eviction after being victimized by mortgage fraud when she attempted to save her home after she fell behind on payments due to medical expenses. From the story: A bogus mortgage company, which subsequently had its license revoked, tricked Brown into signing her house over to them...

Alleged Arson Ring Charged With Scheming To Torch Homes For Insurance Cash

Posted on December 12, 2008
The U.S Attorney's Office in Miami, Florida recently announced that defendants Iraida Alvarez, Adiaris Figuerola, Alexis Perez, Erlin Oswaldo Perez, Carlos Stewart and Rosa Stewart, were charged in a criminal complaint with conspiracy to commit arson in connection with an insurance fraud scheme...

Major Builder Uses "Rent To Own" Program In Effort To Unload Unsold Inventory

Posted on December 12, 2008
Reuters reports: Toll Brothers Inc., the largest U.S. luxury builder, [last month] said it was expanding its rent-to-own program to Hoboken, New Jersey, across the river from Manhattan.***Toll Brothers has a rent-to-own program in one of its Brooklyn condos and will start such a program in a Hoboken building as well, Chief Executive Robert Toll said during a company conference call...

Missouri Feds, State AG, Local Cops Raid "Contract For Deed" Operator; Firm Subject To Numerous Complaints; Company Issues Public Statement

Posted on December 11, 2008
In Springfield, Missouri, OzarksFirst.com reports: Springfield police, the FBI and the Missouri Attorney General's office raided the Springfield office of Greenleaf Companies Tuesday. The company, which has been accused of real estate fraud, acts as a go-between, between home buyers and sellers - some buyers say Greenleaf never submitted their payments to the seller, sending the homes into

Texas AG Gets Permanent Injunction Against Upfront Fee Foreclosure Rescue Operator; Firm To Pay $1.55M

Posted on December 11, 2008
Buried in a recent press release is the following announcement from the Office of the Texas Attorney General: [A]ttorney General Abbott revealed the results of a recent enforcement action against a mortgage rescue fraud scheme. Arizona-based Abell Mediation, Inc...

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