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

Paralegal Admits Guilt In $2.6M Client Ripoff; Trust Account Looted, Chronic Care Patient Left Broke, On Public Dole; Pair Lost Entire Inheritance

Posted on April 22, 2010
In Hamilton, Ontario, The Hamilton Spectator reports:A crooked paralegal with an admitted gambling problem admits to siphoning more $2.6 million from unsuspecting clients, while masquerading as a bona fide lawyer. Shellee Spinks, 47, pleaded guilty to 16 criminal charges yesterday, including one of theft by power of attorney, 12 counts of theft by conversion, and one each of perjury, obstruction

Another Florida Judicial Rubber-Stamper Reversed On Appeal As Foreclosing Lender Fails To Conclusively Establish Standing To Sue

Posted on April 22, 2010
In West Palm Beach, Florida, a unanimous, 3-judge panel of Florida's 4th District Court of Appeal recently reversed a Broward County trial judge that rubber-stamped a summary judgment of foreclosure in favor of a lender that failed to conclusively establish that it had standing to sue (bold text is my emphasis, not in the original text):Aurora Loan Services, LLC, filed a mortgage foreclosure

Northern California Seniors Live In Unwitting Jeopardy Of Getting The Boot As Underwater Elder Care Homes Fall Into Foreclosure

Posted on April 21, 2010
In Northern California, The New York Times reports:In September 2009, Sgt. Rick Turini of the Santa Clara County Sheriff?s Office drove to a house in San Jose to carry out a court-ordered eviction. With foreclosures in Bay Area counties near all-time highs, the office had been routinely evicting 35 to 40 households a week...

Revenue For S. Florida Assembly Line Foreclosure Mill Skyrockets To $260M As Media Shines Light On Alleged Sloppy, Fraudulent Document Manufacturing

Posted on April 21, 2010
The Tampa Tribune reports:The housing crisis has been very good for Florida's biggest processor of foreclosure lawsuits: Its revenues have skyrocketed to $260 million since the housing bust began. In recent years, the Law Offices of David J. Stern, a Broward County-based foreclosure law firm, has become the largest filer of foreclosure suits in Florida...

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San Jose Man Gets Year in Jail In Loan Modification Ripoff; Cops Plea To Six Felony Counts Of Grand Theft

Posted on April 21, 2010
In Santa Clara County, California, the Contra Costa Times reports:[A] 32-year-old San Jose man was sentenced March 30 to one year in jail for six felony counts of grand theft for defrauding homeowners in a loan modification scam, according to the District Attorney's Office...

WV High Court Points To Process Server Screw-Up To Void Judgment; Says Trial Judge Lacked Jurisdiction Where Service Made At Defendant's Mom's Home

Posted on April 21, 2010
In Charleston, West Virginia, The West Virginia Record reports:In a case with no lawyers and no plaintiff, the defendant won. On April 1, the Supreme Court of Appeals relieved Barry Dailey of liability from a car crash at a Charleston intersection 10 years ago...

LI Judge Strikes Again; Hammers Lender For $100K In Damages, Scraps $119K In Dubious Loan Charges For "Overreaching, Shocking, Unconscionable" Conduct

Posted on April 21, 2010
In Suffolk County, New York, Newsday reports:A state judge accused Emigrant Mortgage Co. of premeditated attempts to destroy an East Northport couple's chances of keeping their home, ordering the lender to pay the borrowers $100,000 in damages and scrapping as much as $119,330 in questionable late charges...

NY AG Shuts Down Process Server Outfit For Allegedly Engaging In "Sewer Service" Racket

Posted on April 20, 2010
From the Office of the New York Attorney General:Attorney General Andrew M. Cuomo [] announced that his office has shut down a Brockport-based process server company that repeatedly claimed in legal affidavits that its employees had made proper service of legal documents to thousands of consumers when in fact it had not...

Alabama Appeals Court: Process Server Screw-Up Leaves Trial Judge w/out Jurisdiction In F'closure Action; Default Judgment Against Pair To Be Vacated

Posted on April 20, 2010
The Alabama Civil Court of Appeals recently reversed a ruling of a lower court that refused to vacate a foreclosure judgment in favor of the Bank of New York ("BNY") on the grounds that the trial court lacked personal jurisdiction over the homeowner-couple, Linda and James Bogus...

Manager Of Foreclosure Consulting Outfit Bagged & Held On $1M Bail; Accused Of Pocketing Upfront Cash Of Homeowners In Or Nearing Mortgage Default

Posted on April 20, 2010
In Los Angeles, California, the Santa Maria Times reports:The manager of a Los Angeles-based foreclosure consultant organization with an office in Santa Maria has been arrested on suspicion of violating rights of residents whose homes were in or nearing default...

Schack Hammers Attorney For Failure To Cancel Foreclosure Action After Delinquent Mortgage Was Paid Off & Subject Property Sold In Private Sale

Posted on April 20, 2010
In Brooklyn, New York, state court Justice Arthur M. Schack hammered another foreclosure attorney in a recent ruling for allowing a foreclosure action to continue despite the fact that the property owner had sold the subject property and paid off the delinquent mortgage over a year ago...

Central Florida Judge Blasts Foreclosure Mill Law Firm For Filing "Fraudulently Backdated" Document "In A Purposeful, Intentional Effort To Mislead"

Posted on April 19, 2010
In Central Florida, The Wall Street Journal reports:A Florida state-court judge, in a rare ruling, said a major national bank perpetrated a "fraud" in a foreclosure lawsuit, raising questions about how banks are attempting to claim homes from borrowers in default...

Central Florida Foreclosure Rescue Operator Cops Plea In Racket That Targeted House-Rich, Cash-Poor Owners In Home Equity Ripoff

Posted on April 19, 2010
In Tampa, Florida, the Bradenton Herald reports:The reputed ringleader of a foreclosure-rescue scam that operated in Manatee County and elsewhere in Florida now is facing more federal prison time. Peter James Porcelli II, also known as Peter James, pleaded guilty in a Tampa federal courtroom Thursday to one count of mail fraud in connection with the rescue scheme, U...

Three Charged For Allegedly Pocketing $10K Per Victim In Bogus "Principal Reduction" Loan Mod Racket; Part Of Larger Scam That Clipped 400 Homeowners

Posted on April 19, 2010
In Santa Clara County, California, the Contra Costa Times reports:A Santa Clara County criminal grand jury has indicted three people on 83 counts of defrauding 45 homeowners in Northern California in a wide-ranging loan modification scam. The Santa Clara County District Attorney's Office alleges Rene Alvarez, 39, and Mariano Ortega, 34, both of San Jose, and Cydney Sanchez, 60, of Los Angeles,

California Man Cops Plea For Role In Bid-Rigging At Foreclosure Sales

Posted on April 19, 2010
In Sacramento, California, The Stockton Record reports:A 43-year-old Stockton man pleaded guilty Friday to rigging bids at public real estate auctions in San Joaquin County over a six-month period in 2009. Anthony B. Ghio, 43, admitted in U.S. District Court that he conspired with a group of real estate speculators who agreed not to bid against each other at selected foreclosure auctions as a way

Feds Charge Goldman Sachs With Fraud In Civil Suit In Connection With The Manufacturing & Peddling Of Subprime Mortgage Securities

Posted on April 18, 2010
In New York City, The Associated Press reports:The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was collapsing. The Securities and Exchange Commission said in a civil complaint Friday that Goldman failed to disclose that one of its clients helped create -- and then bet against

Sale Leaseback Deal A Constructively Fraudulent Transfer, Violated State Consumer Protection Act, Says Judge In Granting $244K+ Triple Damage Award

Posted on April 18, 2010
In a recent ruling from a U.S. Bankruptcy Court in Boston, Massachusetts, 3 individuals and one company were found liable for the return of over $81,000 in home equity that was pocketed from a couple facing foreclosure in a sale leaseback, foreclosure rescue arrangement which was found to constitute a constructively fraudulent transfer under sections 548 and 550 of the U...

Sale Leaseback Foreclosure Rescue Scams & The Bona Fide Purchaser Doctrine In Pennsylvania

Posted on April 18, 2010
In a recent story in The Philadelphia Inquirer on Chester County homeowner Melissa Miller who was victimized out of an estimated $140,000 in equity in a sale leaseback foreclosure rescue scam (see Mortgage scheme costing Chesco woman her home), a reference was made to her apparent failed attempt to undo the ripoff through the filing of a civil lawsuit:[Bruce] Baldwin, Miller's attorney, said the

Oregon Regulators Taking A Close Look Into Portland-Based Foreclosure Rescue Operator Peddling Sale Leaseback Programs

Posted on April 18, 2010
A recent story in The Oregonian [see State regulators open civil investigation into Aspen Capital's mortgage affiliate] reports that the Oregon Department of Consumer and Business Services has commenced a civil investigation into the lending and foreclosure rescue activities of an affiliate of Aspen Capital for possible violations of consumer protection laws...

Ex-NFLer Swiped Former Teammate's Grandma's ID For Use In Mortgage Scam, Say Cops

Posted on April 17, 2010
In Miami, Florida, USA Today reports:Could a 6-6, 335-pound former NFL player get away with using the identity of a 74-year-old grandmother? That's a question to ask in the wake of Jamie Nails being charged with mortgage fraud. Miami police say the former Miami Dolphin and Buffalo Bill stole the identity of the grandmother of a former Bills teammate, Daryl Porter...

Queens Neighborhood Ranks #1 Nationally In Bogus Home Loan Concentration: Study

Posted on April 17, 2010
In Jamaica, Queens, the New York Daily News reports:Forget Las Vegas. Forget Miami. The No. 1 neighborhood in the U.S. for mortgage fraud is in the heart of Queens. A new study says a section of South Jamaica has the highest concentration of bogus loans in the nation, with zip code 11436 the absolute worst...

Bullying Of Tenants In Foreclosure Evictions Continues As Owners, Lenders, Real Estate Agents Blatantly Disregard Federal Law

Posted on April 17, 2010
In Miami, Florida, The Miami Herald reports:All she had was 48 hours to clear out her belongings and vacate the house where she had lived for three years. One day last September, Gladys Flores received an unexpected visit from the owner of the property she rented in Little Havana...

Tenants Driven From 112-Unit Complex Loaded With Code Violations, Foreclosing Lender Left Holding The Bag On Apartments Too Unsafe To Inhabit

Posted on April 17, 2010
In Beloit, Wisconsin, WISC-TV reports:A Beloit apartment complex is going into foreclosure just months after dozens of tenants were evicted due to building code violations. Countryside Village Apartments on Beloit's East Side is now mostly abandoned. The city said only about 10 of its 112 units are occupied...

Recession Leads Chicago-Area Legal Non-Profits, "Big Law" To Form Odd Couple In Utilizing Lawyer Oversupply

Posted on April 17, 2010
In Chicago, Illinois, the Chicago Tribune reports:Cabrini Green Legal Aid ended its 2009 fiscal year with a deficit for the first time in years. Even though it provided legal aid to more poor people than ever before ? 5,348 ? the not-for-profit could not afford to hire another full-time attorney on its $2 million shoestring budget...

California Lawmaker Moves To Elevate Crime Of Landlord Impersonation To Felony Grand Theft

Posted on April 17, 2010
The San Francisco Chronicle reports:The glut of vacant foreclosed homes has inspired con artists to concoct a new scam: posing as landlords to swindle prospective tenants out of rent and deposit money. Cases of landlord impersonation have jumped throughout California in the past couple of years, according to sheriffs and legal aid clinics...

Florida Appeals Court Says Mortgage Lender Need Not Pay Condo Maintenance Fees While Dragging Its Feet In Proceeding To Foreclosure Sale

Posted on April 16, 2010
A Florida appellate court recently issued the following decision reversing a lower court ruling that forced a foot-dragging, foreclosing mortgage lender to either proceed with a foreclosure sale or begin paying the monthly maintenance fee on the condominium unit securing its loan...

C. Florida Judge Reverses Earlier Grant Of Summary Judgment In Favor Of Foreclosing Lender; Questions Veracity Of Court Filings By Foreclosure Mills

Posted on April 16, 2010
In St. Petersburg, Florida, foreclosure defense attorney Matthew Weidner writes:Search this blog and you will see that for months now I?ve been arguing that the ?evidence? submitted by Plaintiffs in foreclosure cases does not even come close to meeting the legal and evidentiary requirements for courts to grant summary judgment...

South Florida Lawyer Masquerading As Foreclosure Defense Attorney While Associated With Notorious Assembly Line Foreclosure Mill Law Firm?

Posted on April 16, 2010
In Palm Beach County, Florida, 4closureFraud.org reports on a foreclosure action in which a homeowner facing foreclosure was allegedly duped into paying a $1,000 legal fee for the services of an attorney who claimed to be in private practice but, in actuality, is listed as being "Of Counsel" on the letterhead of a notorious South Florida assembly line foreclosure mill...

LPS Shuts Down Alleged Bogus Foreclosure Document "Manufacturing" Racket; Pumped Out Over A Million Mortgage Assignments In Last 2 Years

Posted on April 15, 2010
Fraud Digest reports:On April 12, 2010, Lender Processing Services closed the offices of its subsidiary, Docx, LLC, in Alpharetta, Georgia. That office was responsible for pumping out over a million mortgage assignments in the last two years so that banks could foreclose on residential real estate...

NY Court Slams Loan Modification Racket For Ripping Off Homeowners In Financial Distress; Holds Owner Personally Liable For Damages, Penalties

Posted on April 15, 2010
From the Office of the New York Attorney General:Attorney General Andrew M. Cuomo [] announced a favorable decision in a lawsuit filed by the Attorney General against American Modification Agency, Inc. (?Amerimod?), formerly one of the largest foreclosure rescue companies in the country, and its owner and president Salvatore Pane, Jr...

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