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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

Maryland AG Charges Mortgage Broker With Felony Theft; Accused Of $100K+ Ripoff Of Proceeds From Client's Home Refinance

Posted on December 15, 2009
According to the Office of the U.S. Attorney in Maryland, the Maryland Mortgage Fraud Task Force members recently highlighted their progress in a press conference, including the filing of criminal, civil, and regulatory actions against more than 250 individuals and companies in 2009, including this recently filed case:On December 8, 2009, the Maryland Attorney General?s Office charged David Young

Maryland Regulator Suspends Mortgage Originator's License In Connection With Alleged Bogus Sale Leaseback, Foreclosure Rescue Equity Stripping Scam

Posted on December 15, 2009
The Maryland Department of Labor, Licensing and Regulation's Office of the Commissioner of Financial Regulation recently announced enforcement actions against entities and individuals accused of illegal activities that victimized Maryland homeowners, including an outfit accused of violating state law in connection with an alleged bogus sale leaseback, foreclosure rescue equity stripping scam:

Dozens Air Out Grievances Against Southern California Attorney Accused Of Pocketing Thousands For Mortgage Litigation Services & Leaving Them Hanging

Posted on December 15, 2009
In Glendale, California, the Glendale News Press reports:Dozens of homeowners claim they paid for loan litigation services with Los Angeles-based Bander Law Firm and never saw any legal action taken in their cases, causing some homes to foreclose. The homeowners gathered Saturday for a news conference inside a Glendale Days Inn Motel banquet hall, where several signs calling for attorney Joel

Maryland Loan Officers Charged In Alleged Foreclosure Rescue Scam; Used Bogus Sale Leasebacks To Pocket $650K In Equity Stripping Proceeds, Say Feds

Posted on December 14, 2009
In Annapolis, Maryland, The Capital reports:James William Fox II, 39, of Crofton, and James Hooper Dan, 45, of Annapolis were indicted this week in a mortgage-fraud scheme, officials announced [last week]. The two could face 40 years in prison if they are found guilty...

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Eastern Pennsylvania Man Pocketed $655K+ In Sale Proceeds On Properties He Didn't Own & $168K Due To Investors, Feds Charge

Posted on December 14, 2009
In Doylestown, Pennsylvania, the Allentown Morning Call reports:A 36-year-old Bucks County man is facing federal charges in a real estate investment scheme prosecutors say bilked investors of nearly $1 million. Roman R. Fitzmartin, former operator of the Doylestown Investment Group, was charged with mail fraud in a two-count information [...

Boston Feds Charge Two In Alleged Condo Conversion, Straw Buyer Mortgage Scam; Nine Units In Four Triple Deckers Wind Up In Foreclosure

Posted on December 14, 2009
From the Office of the U.S. Attorney (Boston, Massachusetts):A former Dorchester man and a Wrentham mortgage broker were charged in federal court with wire fraud and money laundering in connection with a mortgage fraud scheme which generated more than $1 million in profits and sending nine properties into foreclosure...

Philadelphia's Courtroom 676 Featured On ABC News' Nightline

Posted on December 14, 2009
In Philadelphia, Pennsylvania, ABC News' Nightline ran a story last week on Courtroom 676, the home of the city's Residential Mortgage Foreclosure Diversion Pilot Program, a court program that helps strike deals that lower monthly payments for borrowers facing foreclosure with the view of helping them retain their homes...

State Regulator Issues C&D Order Against Northern Virginia-Based Loan Modification Group Targeting Maryland Homeowners

Posted on December 13, 2009
The Maryland Department of Labor, Licensing and Regulation's Office of the Commissioner of Financial Regulation recently announced enforcement actions against entities and individuals accused of illegal activities that victimized Maryland homeowners, including an outfit accused of violating state law in connection with providing loan modification services:Issued a Summary Order to Cease and

Cops Seek Out More Victims After Charging Suspect In Metro Detroit Alleged Loan Modification Scam Probe

Posted on December 13, 2009
In Roseville, Michigan, WDIV-TV Channel 4 reports:48-year-old Grosse Pointe Woods man who had warrants for his arrest in four metro Detroit communities(1) in connection with a mortgage fraud investigation was charged Friday in a Roseville courtroom. The Roseville Police arrested Bryan Cervier early Thursday morning...

Struggling Homeowners Accuse Soon-To-Be Suspended & Recently Foreclosed Upon Attorney Of Fleeing With Fees After Promising Loan Modification Help

Posted on December 13, 2009
In Phoenix, Arizona, KPHO-TV Channel 5 reports:Fernando Sanchez was one of the [dozens of people 5 Investigates reportedly found victimized by scam loan modification companies]. He was barely making ends meet when he heard about an opportunity to reduce his mortgage, from $2,300 per month to $900 per month...

Financial Hole Becomes Bigger For Struggling Homeowner After Hiring Loan Modification Outfit That Pocketed $2.5K By Promising Help

Posted on December 13, 2009
In San Antonio, Texas, the San Antonio Express News reports:When family medical bills soared, Norma Baker missed a mortgage payment. And when she decided to rectify that financial slip, she and her husband hired a San Antonio mortgage loan modification company to negotiate with Wells Fargo on their behalf...

NC Shuts Down Purported "Non Profit" Loan Mod Outfit; Clipped Homeowners For Up To $1,500 Upfront, Failed To Honor Money Back Guarantee, Says State AG

Posted on December 13, 2009
In Raleigh, North Carolina, North Carolina News Network reports:A judge has barred a Kannapolis-based foreclosure assistance firm from doing business. State Attorney General Roy Cooper had sought the action. Cooper accuses Geoffrey Lamb of Cabarrus County, doing business as The Lamb Group and US Business, of charging consumers up-front fees of as much as $1,500 but doing little to help them...

Maine AG Tags Three Out-Of-State Firms With Civil Suits Alleging Illegal Loan Modification Activity

Posted on December 13, 2009
From the Office of the Maine Attorney General:The Maine Attorney General has filed three separate lawsuits in Kennebec County Superior Court against three out-of-state businesses and their principals. The defendants are: Elect Group, LLC, Anthony Ferlanti and Emmanuele Zuccarelli (Florida); Help Modify Now Debt Solutions, Inc...

Idaho Joins Nationwide Federal/State Effort To Slam Upfront Fee Loan Modification Rackets

Posted on December 13, 2009
From the Office of the Idaho Attorney General:Attorney General Lawrence Wasden joined the Federal Trade Commission and 26 other state and federal regulatory agencies in Operation Stolen Hope, a nationwide enforcement and consumer education effort to combat foreclosure rescue fraud...

Long Island Man Charged In Vacant Home Hijacking Rental Scam; Suspect Pocketed Over $10K From Tenant On House He Didn't Own, DA Says

Posted on December 12, 2009
In Nassau County, New York, the Long Island Press reports:Not only did Ozell Neely collect $2,200 a month in rent on a house Nassau prosecutors contend he didn?t own, but they say he also tried to evict a tenant when the woman stopped paying in a dispute over whether promised repairs had been made...

Landlord Accused Of Hate Crime After Former Tenant Moves Out Of Apartment Upon Learning Unit Was In Foreclosure

Posted on December 12, 2009
In Palm Beach Gardens, Florida, WPTV-TV Channel 5 reports:Palm Beach Gardens Police have arrested 32-year-old Anthony Schell on charges of stalking, criminal use of public record information and criminal mischief. In addition, there's sufficient evidence, say investigators, to show Schell "evidenced prejudice" while committing the crimes, to label them ?hate crimes? based on the victim's religion

Louisiana Chinese Drywall Victims Get State Hotline; Urged To Register

Posted on December 12, 2009
In New Orleans, Louisiana, The Times Picayune reports:The Louisiana Recovery Authority has activated a hotline for state residents to become part of the official count of households affected by contaminated drywall to help Louisiana press its case for federal assistance...

Wells Fargo To Ante Up $25K To Help Fund Care For Animals In Recently Foreclosed Farm

Posted on December 12, 2009
In Glocester, Rhode Island, The Providence Journal reports:A fund to support the animals left uncared for after Bonniedale Farm was foreclosed upon will receive a donation of $25,000 from Wells Fargo Bank. [...] An agreement hammered out in Superior Court Thursday morning gave the Rhode Island Society for Prevention of Cruelty to Animals the authority to care for and take control of the animals

Kiboshed Lender Defies Court Order? Bills Homeowner For $474K+ Two Weeks After Long Island Judge Wipes Out Loan In Foreclosure For "Repugnant" Conduct

Posted on December 11, 2009
In Suffolk County, New York, Newsday reports:The state Supreme Court justice who last month lashed out at a bank's dealings with an East Patchogue family facing foreclosure and canceled the mortgage on the home has ordered the bank and the homeowners back to court, records show...

Supremes To Decide Whether Attorney Screw-Up When Pursuing Foreclosure Action Is Defensible As "Bona Fide Error" Under FDCPA

Posted on December 11, 2009
Inside ARM reports:In June 2009, the U.S. Supreme Court accepted a writ of certiorari to consider whether 15 U.S.C. Section 1692k(c) of the Fair Debt Collection Practices Act (FDCPA), otherwise known as the bona fide error defense, applies to mistakes of law...

Legally Blind Siblings Duped By Relative Into Signing Home Mortgage Now Face Foreclosure

Posted on December 11, 2009
In Boston, Massachusetts, The Bay State Banner reports:Hildreth Brewington, 69, and his sister Vanita Brewington, 59, both of whom are legally blind, have lived in a two-family home near Codman Square since they bought the property 14 years ago. In 2007 they found out their home was in foreclosure?even though they sent in monthly mortgage payments...

Missouri AG "Zero Tolerance Policy" Against Loan Modification Rackets Continues By Tagging Florida Firm With Civil Suit

Posted on December 11, 2009
From the Office of the Missouri Attorney General:Attorney General Chris Koster said today he is suing a Florida company that took money from distressed Missouri homeowners without providing any meaningful mortgage-modification service. Koster joined the Federal Trade Commission and the state of Iowa in taking legal action against the company...

Abandoned Homes In "Legal Limbo" Hinder Real Estate Recovery In Weaker Markets: Fed

Posted on December 11, 2009
Reuters reports:The recovery of many U.S. low income areas remains stymied as lenders decide completing some foreclosures simply isn't worth the cost, casting many properties into "legal limbo," Federal Reserve Governor Elizabeth Duke said on Wednesday...

Philly Feds: Two Lawyers Among Five Who Ran Bogus Sale Leaseback, Equity Stripping Racket Clipping 35 Homeowners Of $14.6M; Civil Suit Pending

Posted on December 10, 2009
In Philadelphia, Pennsylvania, The Intelligencer reports:Doylestown Township Supervisor Jeffrey Bennett and his law partner, Stephen Doherty, were indicted in U.S. District Court Tuesday for reportedly skimming equity from the homes of owners facing foreclosure in a mortgage fraud scheme...

Vegas Class Action Seeks To Stop BofA Foreclosures; Cites Lender's Lack Of Good Faith Negotiations In Loan Mods, Despite Grabbing Gov't TARP Cash

Posted on December 10, 2009
In Las Vegas, Nevada, KVBC-TV Channel 3 reports:As more homeowners find they aren't having any luck trying to work with their lenders, one local attorney is filing suit against one of the largest lenders of all: Bank of America. [...] The suit was filed on behalf of homeowners facing foreclosure who say there has been no progress made with regard to negotiations with their lender...

Wells Fargo Farm Foreclosure Leaves 100+ Thirsty, Unfed Animals In Limbo After Owner Gets Boot

Posted on December 10, 2009
In Glocester, Rhode Island, The Providence Journal reports:The evicted owner of Bonniedale Farms, upset with the way 136 animals on his farm have been treated since he was forced off the property Monday by Wells Fargo Bank, plans to go before a Superior Court judge [...

Kansas AG Joins Nationwide "Operation Stolen Hope" - Tags Two Loan Modification Outfits With Suits Alleging Pocketing Upfront Fees, Breaking Promises

Posted on December 10, 2009
From the Office of the Kansas Attorney General:[Kansas Attorney General Steve] Six recently filed two [...] lawsuits against [loan] modification companies. He alleges that these companies find consumers that are in trouble with their mortgage payments and contact them directly, either through internet advertisements or by phone...

MERS Takes Another Hit As Appellate Panel Affirms Bankruptcy Court Ruling That It Lacked Standing To Bring Foreclosure Action

Posted on December 09, 2009
In Las Vegas, Nevada, the Las Vegas Review Journal reports:Homeowners struggling to avoid foreclosure got some good news [...]. U.S. District Judge Kent Dawson upheld a bankruptcy court ruling that makes it harder for lenders to foreclose on home mortgages...

Sentencing Wraps Up In "Money Store" Scam Prosecution; Bogus Sale Leasebacks Used To Strip Equity From Unwitting Homeowners Seeking Foreclosure Help

Posted on December 09, 2009
From the Office of the U.S. Attorney (Greenbelt, Maryland):U.S. District Judge Roger W. Titus sentenced Jennifer McCall, age 48, the Chief Executive Officer of the Metropolitan Money Store, of Fort Washington, Maryland, to 135 months in prison, followed by five years of supervised release, for conspiracy to commit mail and wire fraud in connection with a mortgage fraud scheme that falsely

Georgia Regulator Issues Cease & Desist Orders To Four Upfront Fee Loan Modification Companies

Posted on December 09, 2009
From the Georgia Department of Banking and Finance:Georgia Banking Commissioner Robert Braswell [...] joined federal and state officials to crack down on loan modification and foreclosure relief scams, by the issuance of Cease and Desist Orders against individuals and companies who advertised unlicensed loan modification services to take hard-earned money from distressed Georgia homeowners...

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