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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

Residents In Waterfront Townhouse Complex Forced To Flee From Homes After 'Rogue' Canal Swallows Up Backyard

Posted on December 18, 2010
In Sunrise, Florida, the South Florida Sun Sentinel reports:The bizarre collapse of a canal bank in Sunrise forced the evacuation of a strip of townhouses, as residents scrambled into their clothes and hustled their children onto the sidewalk for safety...

"We Will Put People In Jail!" Vows Iowa AG Referring To Ongoing Robosigner Probe

Posted on December 17, 2010
Reuters reports:Iowa's attorney general, who is leading a nationwide probe of questionable home foreclosures, met with struggling homeowners on Tuesday and said he may bring criminal charges in his state."We will put people in jail," Iowa Attorney General Tom Miller said, referring to cases in his state he plans to prosecute with the U...

Duo Forks Over $25K In Upfront Restitution For Conditional 'Buyout' Of Convictions For Running Illegal Loan Mod Operation

Posted on December 17, 2010
In Livingston County, Michigan, the Daily Press & Argus reports:Two women accused of illegally charging an estimated 15 customers money upfront for loan modification services were ordered Tuesday to complete community service and probation under a delayed sentence...

Lawsuit: Title Company Ruined Texas Home Seller's Credit By Failing To Pay Off Existing Mortgage From Escrow Funds

Posted on December 17, 2010
In Jefferson County, Texas, The Southeast Texas Record reports:A Jefferson County man claims his credit score was ruined after a title company failed to pay off a loan after he sold his home. Ronald Carlin filed a lawsuit Dec. 2 in Jefferson County District Court against Stewart Title Guaranty Co...

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Colorado Homeowner Files Federal Suit Challenging Constitutionality Of State's Foreclosure Process & Law

Posted on December 17, 2010
In Denver, Colorado, The Denver Post reports:Denver attorney John Prater sued the state of Colorado in federal court Friday, alleging that it is allowing lenders to seize properties without the due process required under the U.S. Constitution. "Colorado's foreclosure process and law are unconstitutional," said Andrew O'Connor with the Prater Legal Offices...

Philly Feds Continue Attack On Equity Stripping Sale Leaseback Peddlers; Indict 4, File Civil Suit In Alleged Racket Involving 120 Properties

Posted on December 16, 2010
In Philadelphia, Pennsylvania, the Philadelphia Inquirer reports:The U.S. Attorney's Office in Philadelphia filed criminal charges Tuesday against the operator of a local mortgage foreclosure rescue scheme involving $31 million in fraudulent loans on 120 properties...

Media Attention Continues On Use Of False Attorney Signatures On Foreclosure Documents

Posted on December 16, 2010
ProPublica reports:Many foreclosures have been thrown into question because of flawed documentation such as inaccurate affidavits describing a mortgage's history. But three recent court cases point to another type of flaw in foreclosure filings that could place thousands more cases in doubt: false attorney signatures on court documents...

Boston Retiree Faces The Boot From Family Home Of 50+ Years After Being Victimized In $500K+ Home Equity Ripoff

Posted on December 16, 2010
In Boston, Massachusetts, The Boston Herald reports:Nancy Henry could be spending Christmas out on the street. In what her attorney called a mortgage swindle, the 76-year-old retired accountant is facing foreclosure of the two-bedroom row house in Cambridge that has been her family home for more than 50 years...

"I Lost My House. I Lost Everything" Says Widow After Underwriter Allegedly Stiffed Her Of $250K Payout From Deceased Hubby's Life Insurance Policy

Posted on December 16, 2010
In Southern California, the Los Angeles Times reports:American General Life Insurance Co. markets its policies as protection for "the hopes and dreams of American families" ? a promise Ian Weissberger took to heart during his losing battle with Lou Gehrig's disease...

Couple Holding Purchase Money Note & Mortgage Left Holding The Bag After Unwittingly Signing Negligently-Prepared Satisfaction By Closing Agent

Posted on December 15, 2010
A Florida appeals court recently let a closing agent off the hook for any potential damages caused by negilgently preparing a satisfaction of mortgage and getting the unwitting couple holding the promisssory note secured by said mortgage to sign the satisfaction...

Indiana Appeals Court: Failure To Comply With HUD Servicing Regulations A Valid Affirmative Defense In Foreclosure Action Involving FHA-Insured Loan

Posted on December 15, 2010
Lexology reports:In a recently-published case of first impression in Indiana, the Court of Appeals of Indiana has held that a lender?s failure to comply with HUD servicing regulations on an FHA-insured loan may be asserted as a valid affirmative defense to a mortgage foreclosure action...

Central Florida Robosigning Operation Goes On The Offensive; Sues Foreclosure Defense Attorney For Alleged Libel, Slander

Posted on December 15, 2010
Barry Ritholtz writes in The Big Picture:Sometimes, the best defense is a good offense. That seems to be the approach that notorious robo-signing firm Nationwide Title Clearing has taken in responding to some of its critics.If you are unfamiliar with their name, you might recall earlier this Fall when depositions of several Nationwide robo-signers employees went viral on YouTube (We mentioned

Recently-Recorded, Forged Mystery Lien Threatens To Kibosh Short Sale Of Home Facing Imminent F'closure; Title Agents Refuse To Insure Over Dirty Deed

Posted on December 15, 2010
In Elk Grove, California, KXTV-TV Channel 10 reports:The pending sale of a home on the brink of foreclosure could collapse because of a fraudulent deed of trust recorded on the property-- and no one involved in the transaction can imagine a possible motive...

Foreclosed Minnesota Homeowner Says She Was Duped Into Signing Away Deed & Redemption Rights For $5K; Sues To Undo Title Transfer

Posted on December 14, 2010
In Washington County, Minnesota, Minnesota Public Radio reports:Many [Minnesota] homeowners in foreclosure may not be aware there's another option that would allow them to keep their homes. Under state law, they can buy their home back after the sheriff's sale for the price of the winning bid...

Foreclosure Mill's Apparent Failure To Arrange For Orderly Transfer Of Cases To New Counsel Leads To Chaos At South Florida Foreclosure Sales

Posted on December 14, 2010
In South Florida, The Palm Beach Post reports:The transfer of thousands of files from the deposed David J. Stern law firm caused not just a foul-up in recent Palm Beach County foreclosure auctions, but is shutting down cases to the point that one defense attorney called the lack of action "malpractice...

Central Florida Judge Lets Foreclosure Mills Off The Hook On Inflated Process Server Fees

Posted on December 14, 2010
In Central Florida, The Tampa Tribune reports:Pasco County Circuit Judge Susan Gardner has agreed to let some attorneys "off the hook" ? this time - for legal fees she says are inflated. "But I'm not approving these fees to be added to the final judgment," Gardner said...

Sticky-Fingered Closing Agents Get Prison For Roles In $4.1M Escrow Account Ripoff; Used Check-Kiting Scheme In Failed Attempt To Conceal Dirty Deeds

Posted on December 14, 2010
From the Office of the U.S. Attorney (Springfield, Missouri):Beth Phillips, United States Attorney for the Western District of Missouri, announced [] that the owners of Guaranty Title, formerly headquartered in Nixa, Mo., have been sentenced in federal court for their roles in $4...

Judge Cancels Previously-Ordered Foreclosure Sale After Reviewing Testimony In Expert's Affidavit As To Dubious Nature Of Robosigner Documents

Posted on December 13, 2010
A recent story in the South Florida Sun Sentinel describes the approach taken by homeowner Gerta Kachko and foreclosure defense attorney Geoff Sherman in an attempt to get a previously-scheduled foreclosure sale cancelled:Sherman said the Aug. 10 [summary judgment] hearing lasted only a few minutes, with a Broward County Circuit Court judge ruling in favor of Deutsche Bank and setting a date of

Bank Fails Again To Convince NY Bkrptcy Judge It Has Standing To F'close On Bronx Borrower; Invited To Try Again; Admits It Doesn't Know Who Owns Note

Posted on December 13, 2010
In New York City, AOL's Daily Finance reports:U.S. Bankruptcy Court Judge Martin Glenn denied Wells Fargo's request for permission to foreclose on Tandala Mims's house in the Bronx for a second time on Thursday because he still wasn't satisfied that Wells -- as opposed to some other bank -- had the right to do so...

Two Phoenix Cops Shelved On Administrative Leave After Agreeing To $458K Settlement With AZ AG For Roles In Alleged Illegal Sale Leaseback Deals

Posted on December 13, 2010
From the Office of the Arizona Attorney General:Attorney General Terry Goddard [last week] announced a judgment totaling $458,000 in civil penalties and restitution(1) for consumers as a result of a mortgage fraud investigation and lawsuit. [..] On November 24, 2010, Goddard filed a lawsuit(2) on behalf of his Office and the Arizona Department of Financial Institutions against Lee Brent Shaw of

Colorado AG Announces Two Civil Lawsuits Targeting Alleged Sale Leaseback, Equity Stripping Foreclosure Rescue Ripoff Operations

Posted on December 13, 2010
From the Office of the Colorado Attorney General:Colorado Attorney General John Suthers announced [last week] that his office has filed separate lawsuits against three businesses and five individuals accused of defrauding homeowners in Denver, Boulder, Broomfield and Adams counties through deceptive foreclosure rescue schemes...

Sale Of Property Coupled w/ Buyback Right Under Contract For Deed Deemed An Equitable Mortgage; MN Federal Court Looks To Substance Over Form Of Deal

Posted on December 12, 2010
A U.S. District Court in Minnesota recently had an opportunity to review a somewhat complex transaction involving a title transfer of real estate by a property owner to another, coupled with a Contract for Deed calling for a future title transfer back to the property owner that was designed to obtain needed funds...

Lenders & Their Attorneys Continue To Litter U.S. Courtrooms With False Affirmations In Home Foreclosure Actions

Posted on December 12, 2010
Among the latest attorneys ruffling New York Supreme Court Justice Arthur M. Schack's feathers in a foreclosure action is Donna D. Maio, Esq. of Matthews & Matthews, as evidenced by this excerpt from a recent ruling:Both Mr. Phelps and Ms. Maio should have discovered the defects in Ms...

Arizona AG Files Separate Suits Against Two Outfits Peddling Mtg Principal Reduction Services; Allegedly Promised Discount Purchases Of Existing Loans

Posted on December 12, 2010
From the Office of the Arizona Attorney General:Attorney General Terry Goddard [] filed complaints against two Arizona companies, alleging violations of the Arizona Consumer Fraud Act in connection with the marketing of purported "principal reduction? services for home mortgages...

Bay Area Prosecutors: Duo Who Ripped Off 60 In Loan Modification Racket Face Multiple Felony Fraud, Theft Charges

Posted on December 12, 2010
In Alameda County, California, Westlaw News & Insight reports:Two Californians took thousands of dollars from residents with the false promise that they would stop banks from foreclosing on their homes and renegotiate their loans, state prosecutors have alleged in a criminal complaint...

Alleged Forensic Loan Audit Racket, Sister Outfit Seek Bankruptcy Court Protection

Posted on December 12, 2010
In Rancho Cordova, California, KXTV-TV Channel 10 reports:A foreclosure rescue company described as a "scam" in a lawsuit filed by the state attorney general has filed for bankruptcy protection. US Loan Auditors filed for Chapter 7 liquidation and its sister company, My US Legal Services, filed for Chapter 11 reorganization in US Bankruptcy Court in Sacramento last Thursday...

Criminal Prosecutions Of Sale Leaseback Peddlers In Equity Stripping Foreclosure Rescue Deals

Posted on December 11, 2010
This post is an attempt to organize the links for some of the posts appearing on this blog on criminal prosecutions of alleged sale leaseback, equity stripping scams by the various law enforcement authorities throughout the country, which I expect to update occasionally, as time permits...

Homeowner Files Suit Seeking Class Action Status; Says Wells Told Her To Stop Mortgage Payments To Qualify For Loan Modification, Then Foreclosed

Posted on December 11, 2010
In Cobb County, Georgia, Courthouse News Service reports:A homeowner claims Wells Fargo instructed her to stop making her monthly mortgage payments to qualify for its loan modification program, then foreclosed after she followed the bank's instructions...

Incidents Of Wrongful Foreclosures Growing, Say Lawyers, Consumer Advocates

Posted on December 11, 2010
The Associated Press reports:People have always loved to complain about their banks. The push-button circus that passes for customer service. The larding on of fees. But the false foreclosure cases are hardly the usual complaints. These homeowners paid their mortgages ? or loan modifications ? on time...

South Florida Synagogue Dodges Foreclosure; Torahs, Ark, Other Religious Artifacts Receive Repo Reprieve From Earlier Yom Kippur Threat

Posted on December 11, 2010
In Boynton Beach, Florida, The Wall Street Journal reports:Is it a Hanukkah miracle? Congregation Chabad-Lubavitch Greater Boynton resolved a loan dispute with lender Stonegate Bank [last week], paving the way for the Florida synagogue to say goodbye to bankruptcy...

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