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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

Jury Convicts Real Estate Agent In Mortgage Payment Skimming Scam Involving Naive Homebuyers, Unwitting Straw Purchaser

Posted on April 15, 2010
In Kitchener, Ontario, The Record reports:A former Cambridge real estate agent was found guilty [] of defrauding clients in three shady house deals. Steven Stojadinovich, 49, was also convicted by a jury in Superior Court in Kitchener of six counts of forgery while scamming naīve buyers in 2005 and 2006...

NYC Man Cops Plea To Attempted Sale Of Commercial Building He Didn't Own

Posted on April 15, 2010
From the Office of the Manhattan District Attorney:Manhattan District Attorney Cyrus R. Vance, Jr., [] announced the guilty plea of HENRY VARGAS, 36, who attempted to sell a commercial building he did not own to the New York Road Runners, a Manhattan not-for-profit running organization that offers year-round races, including the ING New York City Marathon...

Oregon Regulators Open Probe Into Portland-Based Firm's Finance Activities In Connection With Homeowners Facing Foreclosure

Posted on April 14, 2010
In Portland, Oregon, The Oregonian reports:State regulators have opened a formal civil investigation into a mortgage lender affiliated with the Aspen Capital investment firm. Some of Aspen Capital's executives created the lender,Gregory Funding, in 2004 to offer high-interest rate loans to borrowers on the verge of foreclosure...

Another Couple In Foreclosure Successfully Stalls Legal Action Against Home; Lender Fails To Prove It Had Right To Foreclose

Posted on April 14, 2010
In Miami, Florida, the Daily Business Review reports:Diana and John Cirigliano can?t wait to face off with Wells Fargo at a foreclosure trial. A Miami-Dade circuit court judge last month sided with them, when he ruled that the lender had failed to prove it had the right to foreclose on their Miami Beach condo...

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Florida Bar Boots 13, Suspends 11 Others Among 27 Attorneys Disciplined For Conduct Unbecoming An Officer Of The Court

Posted on April 14, 2010
The latest issue of The Florida Bar's quarterly gossip sheet is out, listing attorneys licensed in the state who have been recently disciplined for ripping off client cash, playing fast and loose with escrow/trust funds, and otherwise engaging in conduct unbecoming an officer of the court...

Atlanta Feds Indict Three In Alleged Reverse Mortgage Fraud Conspiracy

Posted on April 14, 2010
From the Office of the U.S. Attorney (Atlanta, Georgia):JONATHAN ALFRED KIMPSON, 27, of Lithonia, Georgia, and GIA HARRIS, 26, of Atlanta, Georgia, have been indicted by a federal grand jury on charges of conspiracy to commit financial institution fraud involving so-called "reverse" mortgages...

Foreclosed Homeowners Getting Caught Flat Footed By Subsequent Legal Actions By Lenders For Collection Of Unpaid 2nd Mortgage Loans

Posted on April 13, 2010
The Wall Street Journal reports:After losing her condo in San Diego to foreclosure last year, Charissa Kolich thought that at least she was free of mortgage bills. But Wells Fargo & Co., which holds a home-equity loan made five years ago to Ms. Kolich, last month filed a lawsuit against her in the Superior Court of California, San Diego County, seeking to collect the nearly $72,000 it said she

Pennsylvania Victim Of Nationwide "Operation Homewrecker" Sale Leaseback Foreclosure Rescue Scam About To Lose Home To Foreclosure

Posted on April 13, 2010
In Chester County, Pennsylvania, The Philadelphia Inquirer reports:Nothing short of a miracle, it seems, will keep Melissa Miller in the house in Honey Brook, Chester County, that has been part of her family for more than a century. Despite her best efforts, it goes to sheriff's sale Thursday...

Alabama Family Faces Foreclosure On Recent Home Purchase; Escrow Agent Failed To Pay Off Former Owner's Existing Mortgage Out Of Closing Proceeds

Posted on April 13, 2010
In Dothan, Alabama, the Dothan Eagle reports:A Dothan family is scrambling to save their new home after it appears the money that was supposed to pay off the existing mortgage on the home has disappeared. Foreclosure on the home is scheduled for April 27, just 20 days after Chester and Judy Nolin moved into their new home in Dothan...

Ohio Attorney Gets Off With Hand Slap For Engaging In Lawyer-Renting Racket With Alleged Upfront Fee Foreclosure Rescue Operator

Posted on April 13, 2010
In a recent ruling by the Ohio Supreme Court, attorney Christopher C. Harwood dodged a bullet and got off with a hand slap for his association with an alleged Ohio forclosure rescue racket in which he, in essence, allowed himself to be "subleased" out by the alleged racket to homeowners facing foreclosure...

Mortgage Holders' Lawyers Say Alleged N. Texas Rent Skimming Operator "Has Siphoned Rents From The Properties ... To Fund An Extravagant Lifestyle ?"

Posted on April 12, 2010
In Dallas, Texas, cbs11tv.com continues its coverage on the probe into an alleged rentskimming racket that left would-be home sellers facing foreclosure:CBS 11 is learning more about the alleged business practices of [] North Texas man [Matthew Misczak,] accused of cheating dozens of clients across the country...

California AG: Jail Sentences "A Warning Shot To Loan-Modification Consultants: If You Swindle Homeowners, You Face Serious Time Behind Bars"

Posted on April 12, 2010
From the Office of the California Attorney General:In a clear "warning shot" to unscrupulous loan-modification consultants, Attorney General Edmund G. Brown Jr. [] announced that two women have each been sentenced to one year in jail and ordered to repay dozens of homeowners who were charged thousands of dollars in up-front fees for non-existent foreclosure-relief services...

Idaho Regulator Issues C&D Order Against Alleged California Loan Modification Racket

Posted on April 12, 2010
From the Idaho Department of Finance:The Idaho Department of Finance announced the issuance of a cease and desist order [] against California-based "Relief Law Center," stemming from alleged unlawful mortgage modification solicitations targeted to Idaho homeowners...

Minn. Regulator Files Suit Against Closing Agent Accused Of Pocketing Payoff Proceeds In Alleged $1.1M+ Escrow Swindle; Criminal Charges Under Review

Posted on April 12, 2010
In Forest Lake, Minnesota, the Star Tribune reports:A Forest Lake real estate closer is accused of pocketing more than $1.1 million from dozens of real estate transactions in the Twin Cities area by failing to pay off original mortgages or pay forward numerous transaction-related fees...

Massachusetts AG: BofA Loan Officer Funneled Homeowners Seeking Loan Mods From Lender To His Own Private Company To Screw Them Over With Upfront Fees

Posted on April 12, 2010
In Boston, Massachusetts, The Boston Globe reports:A former mortgage loan officer with Bank of America Corp. is being sued by the Massachusetts attorney general's office for allegedly demanding illegal fees from homeowners who sought help to avoid foreclosure...

Miami Feds Bag Wells Fargo Loan Officer, Dozen Others In Alleged $16.9M Mortgage Fraud Racket

Posted on April 12, 2010
In Miami, Florida, the South Florida Sun Sentinel reports:Federal officials have charged 13 individuals in an alleged elaborate $16.9 million mortgage fraud scheme targeting sales of luxury condominimum units in downtown Miami and single family homes in Coral Gables, according to an unsealed superseding indictment...

Proposal To Make Florida Non-Judicial Foreclosure State Dies In Committee

Posted on April 12, 2010
In Tallahassee, Florida, The Palm Beach Post reports:Proposed legislation that would allow banks to foreclose on Florida homes without going to court died in a House committee Monday, giving supporters scant hope for success this year. "We knew this was a big change in Florida law and we were asking a lot for it to happen in one session," said Anthony DiMarco, executive vice president for

WaMu Lending Practices Were Laced With Fraud, Encouraged The Screwing Over Of Borrowers, Say Senate Investigators

Posted on April 12, 2010
In Washington, D.C., The Associated Press reports:The mortgage lending operations of Washington Mutual Inc., the biggest U.S. bank ever to fail, were threaded through with fraud, Senate investigators have found. And the bank's own probes failed to stem the deceptive practices, the investigators said in a report on the 2008 failure of WaMu...

Unfair, Deceptive Practices In Connection With Post-Foreclosure Judgment Loan Workout Negotiations Subject To NJ Consumer Fraud Act

Posted on April 11, 2010
A recent ruling by a New Jersey appellate court recently held that unfair or deceptive practices by a lender or loan servicer in connection with the negotiation of an agreement to cure a default in a mortgage following the entry of the judgment of foreclosure(1) is subject to the provisions of the New Jersey Consumer Fraud Act (CFA), N...

State Lawmakers Pass 11th Hour Bill Allowing Many Californians To Dodge State Income Tax On Debt Forgiveness On Short Sales, Foreclosures, Loan Mods

Posted on April 11, 2010
In Sacramento, California, The Sacramento Bee reports:Tax relief is on the way for thousands of fearful California mortgage borrowers. Most no longer face a double whammy of losing their homes ? and then paying a big state tax bill on the forgiven debt...

Now-Disbarred Lawyer Cops Plea To $4.5M Swindle Of Elderly Clients' Trust Funds; 97-Year Old Victim Out $1M, Left Unable To Pay Ass't Living Expenses

Posted on April 11, 2010
From the Office of the U.S. Attorney (Atlanta, Georgia):M. DEWEY BAIN, 59, of Cumming, Georgia, pleaded guilty [] in federal district court to defrauding his clients of over $4.5 million in trust funds that he had misrepresented were in investments earning good returns...

Texas Consumer Reaches Confidential Settlement With Zombie Debt Buyer After Scoring $8.1M Jury Verdict In Suit Alleging Hostile Phone Manners

Posted on April 11, 2010
In Dallas, Texas, Workbench reports:At courthouses across the United States, it has become increasingly common during the economic downturn for lawsuits to be filed against consumers to collect old debts. Lawyers who specialize in the practice are filing thousands of suits on behalf of large firms that have acquired debts from other companies...

West Virginia Couple Files Suit Against Lender For Oppressive, Abusive Collection Practices

Posted on April 11, 2010
In Berkeley County, West Virginia, The West Virginia Record reports:An Upshur County couple is suing American General Home Equity after they claim the company engaged in a pattern of abusive debt collection practices. Ricky Miller and Sue Ellen Siler obtained a credit line loan secured by a home Miller owned, according to a complaint filed March 5 in Berkeley Circuit Court...

Mortgage Lender's Alleged Sleazy Collection Practices Leads To Civil Suit Charging Violations Of WV Consumer Credit & Protection Act

Posted on April 11, 2010
In Jackson County, West Virginia, The West Virginia Record reports:A Jackson County couple allege their mortgage lender crossed the line in attempting to collect on their delinquent account. Charles E. and Tammy J. Hatcher of Ravenswood filed suit on March 31 against Vanderbilt Mortgage and Finance...

Insurer Stiffed HOA On $5M In Connection With Fire Insurance Claim Over Blaze That Left 30 People Homeless: Lawsuit

Posted on April 11, 2010
In Galveston, Texas, The Southeast Texas Record reports:Alleging it was paid only half of its stated limits on its insurance policy in following a huge fire last year, a local condominium owners' association has filed suit against its insurer, recent court documents say...

State Bureaucracy Slow To React To Deed Ripoff Of 89-Year Old Dementia Sufferer By POA-Abusing Son, Says Attorney

Posted on April 10, 2010
In Tulsa, Oklahoma, NewsOK reports:Tulsa attorney Larre Sloan said he recently got a family guardian appointed for his wife?s 89-year-old grandmother, who has dementia and whose live-in son abused a power of attorney to tap his mother?s money for personal purposes and deed her property to him...

Family Accuses Real Estate Broker Of Scamming Elderly Alzheimer's Victim Out Of Mortgage Payments, Allowing Home To Go Into Foreclosure

Posted on April 10, 2010
In Detroit, Michigan, WJBK-TV Channel 2 reports:A Detroit man is being forced from his home after a foreclosure. His family says the man had been paying a real estate broker for every month for the past five years, but the bank holding the mortgage never got the money...

Real Estate Investor Rents Out Foreclosed Home Before Obtaining Ownership; Last Minute Title Snag Forces New Tenant Out On The Street

Posted on April 10, 2010
In Springfield, Missouri, the Springfield News Leader reports:Jacqueline Patrick moved the last of her boxes and furniture into her new rental home Monday. On Friday, everything came back out again. This wasn't a case of renter's remorse or an eviction...

Another Foreclosing Lender Screw-Up Leads To Winterizing The Wrong Home Mistakenly Believed To Be In Foreclosure

Posted on April 10, 2010
In Northlake, Illinois, the Franklin Park Herald Journal reports:A homeowner stopped by her house on the 100 block of South Caryl the afternoon of April 1. She found pry marks on the door, some interior damage and a sign in the window that said the house had been winterized and not to turn on the electricity, heater or pump...

Another BofA Screw-Up Leads To Foreclosure Sale Of Wrong Home; Lender Apologizes "For This Unfortunate Mistake"

Posted on April 10, 2010
In Jackson County, Georgia, MyFox Atlanta reports:A Jackson County family said Thursday that they nearly lost their home when somehow it landed on a foreclosure list and was auctioned off on the courthouse steps. On Tuesday, Rani Achaibar said she felt like the rug had been pulled out from under her when she found out her house had been sold and it wasn't even on the market...

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