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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

Minnesota AG Accuses Out-Of-State Outfit Of Upfront Fee Refinance Scam; Allegedly Gained Homeowners' Trust By Masquerading As Their Current Lender

Posted on April 01, 2011
From the Office of the Minnesota Attorney General: Minnesota Attorney General Lori Swanson [] filed a lawsuit against Meredian Financial Corporation, a California-based mortgage lender and broker that charged Minnesota homeowners thousands of dollars to refinance their mortgages, but failed to deliver the promised services...

More Alleged Fraud At LPS? Say It Ain't So!

Posted on March 31, 2011
AOL's DailyFinance reports:Attention homeowners with mortgages, whether you're current or in default: Double-check your mortgage bank's math. There's a significant chance that the bank is wrong about how much you owe them, particularly if you're behind on your payments...

Calif. Appeals Court OKs $300K+ Award To Homeowner In Home Equity Ripoff; Says State Anti-Foreclosure Rescue Statute Applied In Sale To Operator

Posted on March 31, 2011
A California appeals court affirmed a lower court award of over $300,000 to a homeowner facing foreclosure in connection with with a home equity ripoff perpetrated by a foreclosure rescue operator. The ruling also affirmed an additional award of over $350,000 for the homeowner's loss of his personal property that he was forced to leave behind in the home when he was abruptly forced to vacate the

Outfit Peddling Loan Principal Reduction Services Settles Civil Charges With Arizona AG

Posted on March 31, 2011
From the Office of the Arizona Attorney General: Attorney General Tom Horne [] announced a settlement agreement with Scottsdale based Principal Reduction Group, LLC, and Brian Cutright, owner and operations manager of Principal Reduction Group, LLC.Pursuant to the settlement agreement, Principal Reduction Group and Brian Cutright agree to no longer engage in any activity, directly or on behalf of

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HOA Locks Out Dozens Of Maintenance-Paying Residents From Pool, Other Association Amenities Due To Several Delinquent Owners

Posted on March 31, 2011
In Boynton Beach, Florida, the South Florida Sun Sentinel reports:Nearly 100 condo owners from the Quail Run development in Boynton Beach remain shut out of their pool, clubhouse and other amenities following a Friday hearing before Circuit Court Judge Timothy McCarthy...

Dozens Of Poor Families Face The Boot As Judge Cites Structural, Health Reasons For Tagging Cash-Strapped 'Homeless Hotel' With 'Shut Down' Order

Posted on March 31, 2011
In Colorado Springs, Colorado, KKTV Channel 11 reports:Dozens of families living in the Express Inn could soon be forced back out on the streets if the hotel can't get the funds to make repairs and/or avoid foreclosure. The hotel, [...] became a half-way house of sorts for homeless in the community when the city was at the height of its tent city problem...

Minnesota AG Tags Major National 'Zombie Debt' Buyer With Robosigner Suit

Posted on March 30, 2011
In Minneapolis, Minnesota, the Star Tribune reports: Employees at a giant debt collection company in St. Cloud "robo-signed" thousands of collection documents without verifying their accuracy, allowing false and deceptive lawsuits to be filed across the country against consumers who didn't owe money, the Minnesota attorney general charged Monday...

The Continuing Force-Placed Insurance Squeeze

Posted on March 30, 2011
A recent column in The New York Times addresses the problems homeowners face when their mortgage servicers use force-placed insurance to gouge them out of outrageous premiums. Among the abuses reported: threatening homeowners with the imposition of force-placed flood insurance for homes and condos that may not necessarily be located in a flood plain...

Some Washington State Homeowners Fall For Pitch Peddling Foreclosure Defense 'Strategy' Asserting 'Sweat Equity' Liens Against Lenders

Posted on March 30, 2011
The Seattle Times reports: Fueled by a strange cocktail of legal theories, some Puget Sound-area homeowners facing foreclosure are slapping their lenders with multimillion-dollar "sweat equity" counterclaims and other measures promoted by shadowy consultants...

Convicted Loan Modification Scammer Cops Another Plea In Neighboring County; Judge Puts $10K Jail Sentence 'Buy-Out' Deal On Table

Posted on March 30, 2011
In Washtenaw County, Michigan, AnnArbor.com reports: A Grosse Pointe man was convicted [last] week of bilking three Saline women who turned to him for help to avoid foreclosure. Bryan Crevier, 50, pleaded guilty to three counts of fraud by false pretenses and avoided a jury trial scheduled to start Monday, Washtenaw County court records show...

Tenants Left Scrambling After Alleged Rent Skimming Foreclosed Landlord Pockets Their 'Move-In" Money For Apartments Subject To Eviction Notices

Posted on March 30, 2011
In Bakersfield, California, KERO-TV Channel 23 reports:Renee Fuentez and her family are scrambling to find a new place to live. They moved into an apartment complex on Parker Avenue about two weeks ago, only to find out a week later the complex was in foreclosure...

BofA Board, Some Officers Hid Mortgage Paperwork Screw-Ups, 'Dollar Rolling' Bookkeeping Gimmick From Stockholders: Lawsuit

Posted on March 29, 2011
In New York City, Bloomberg reports: Bank of America Corp. (BAC)?s board and some officers were sued by shareholders claiming they were hurt by false and misleading statements that hid defects in mortgage recording and foreclosure paperwork.Bank of America ?did not properly record many of its mortgages when originated or acquired, which severely complicated the foreclosure process when it became

Fired Foreclosure Mill Refuses To Turn Over $400M In Promissory Notes, Mortgages Until Bank Coughs Up $5M+ In Unpaid Legal Fees, Costs: Lawsuit

Posted on March 29, 2011
In Fort Lauderdale, Florida, The Palm Beach Post reports: Chase Home Finance has filed a federal lawsuit against its former legal counsel, Ben-Ezra & Katz, accusing the firm of refusing to hand over foreclosure case files that contain over $400 million worth of original notes and mortgages "without which Chase will be unable to proceed with any of the pending cases...

Deficiency Judgments After Foreclosure Not A Hollow Threat, Say Foreclosure Defense Attorneys, Mortgage Industry Experts

Posted on March 29, 2011
The Palm Beach Post reports: He once lived just steps from the ocean in a home valued last decade at more than $500,000. But John Ericksen has fallen - far - and the bank that took away his Juno Beach home last year isn't done with him yet.In November, Riverside National Bank won a $151,461 claim against the down-and-out handyman who now resides in a one-bedroom trailer in Riviera Beach's scruffy

Void vs. Voidable Deeds & The Effect Of Forged Documents

Posted on March 29, 2011
A recent ruling by the Maryland Court of Appeals, the state's highest court, had the opportunity to address the following question: "Does the use of a deed that is neither a forged document, nor signed with a forged signature, but which derives its transactional vitality from forged corporate articles of amendment, render a conveyance of land void ab initio, or, is good title transferred to bona

Multiple Issues Addressed By Recent Ruling On Defendants' Motions To Dismiss Filed In Sale Leaseback, Equity Stripping Litigation

Posted on March 29, 2011
A U.S. District Court in Maryland recently issued a ruling addressing motions to dismiss filed by multiple defendants relating to a slew of charges brought in a civil RICO case filed by the victim of a sale leaseback, equity stripping racket. In his lawsuit, the victim alleged fraud and civil conspiracy to commit fraud, violations of the District of Columbia Home Equity Protection Act, District

Court Dismisses Bank From NJ Sale Leaseback Equity Stripping Victim's Lawsuit Based On Pleading Defect; Gives Homeowner Chance To Amend Complaint

Posted on March 29, 2011
In a lawsuit filed by by a homeowner of a foreclosure rescue, equity stripping ripoff, a U.S. District Court in New Jersey dismissed, on procedural grounds and without prejudice, the claims made against Cornerstone Bank, the financial institution who (apparently unwitting) funded the alleged ripoff orchestrated by a sale leaseback peddler...

Fight Within The Fight In NYC Homeowners' Lawsuit Brought To Undo Damage Caused By Sale Leaseback, Equity Stripping Ripoff

Posted on March 29, 2011
A recent ruling by a New York City trial court on a motion to dismiss in ongoing litigation provides an illustration of the kind of 'sub-battles' that can potentially occur when defendants named in a lawsuit brought by a screwed-over homeowner in a sale leaseback equity stripping ripoff(1) start fighting against each other...

Foreclosure Mill's Affidavit Alterations Lead Judge To Slam Brakes On 1700 Cases; Outfit Ordered To Vacate All Judgments & Completed Judicial Sales

Posted on March 28, 2011
In Chicago, Illinois, the Chicago Tribune:A Cook County Circuit Court judge has taken the unusual step of temporarily halting at least 1,700 mortgage foreclosures after a law firm told the court that the cases contained altered documents, the Tribune has learned...

Title Insurance Agency Owner Gets 6+ Years After Escrow Cash Ripoff Leaves Existing Mortgages Unpaid, Unwitting Homebuyers Facing Foreclosure

Posted on March 28, 2011
In Baltimore, Maryland, WBAL-TV Channel 11 reports:A title company president convicted of stealing more than $4 million in mortgage money was sentenced to six and a half years in prison on Friday. Maple Leaf Title President Anthony Weis pleaded guilty to wire fraud in November 2010...

Loan Servicer's Botched Posting Of Mortgage Payments Leads To Stained Credit Report, Force Placed Insurance, F'closure Threats, Says Homeowner's Suit

Posted on March 28, 2011
In Galveston, Texas, The Southeast Texas Record reports:Claiming Pennymac Loan Services LLC is muddying up his credit history, Texas City resident Joseph C. Boussard seeks $100,000 in damages. Boussard's lawsuit asserts that Pennymac's threats to foreclose on his property are based on errors committed by Citimortgage, the previous company with which the plaintiff obtained a mortgage loan in 1997.

Another Baltimore Tax Lien Racket Horror Story; City Screw-Up Leaves Homeowner Behind 8-Ball As Unpaid $435 Tax Bill Skyrockets To $43K

Posted on March 28, 2011
In Baltimore, Maryland, Investigative Voice reports:Standing in the yard of her Northwest Baltimore home, Sarita Murray stares at a ?No Trespassing? sign nailed to a tree overlooking a swimming pool she built in 2005 to keep her four children busy during hot summer days...

Ill. App. Court: Consumer's Effort To Undo Debt Buyer's Money Judgment Will Succeed Where Oufit Fails To Register Bill Collection Activities w/ State

Posted on March 27, 2011
A recent ruling by an Illinois Court of Appeals may provide a roadmap for those looking to fight off zombie debt buyers and other bill collectors in their efforts to squeeze cash-strapped consumers out of their scarce cash. Facts: Trice, a resident of Illinois, used his Citibank credit card to pay for some plumbing services...

2nd Suspect Agrees To Go Down In Granite State Sale Leaseback, Equity Stripping Foreclosure Rescue Scam

Posted on March 27, 2011
In Concord, New Hampshire, The Nashua Telegraph reports:A Massachusetts woman will join a Nashua real estate agent in pleading guilty to federal mail fraud charges stemming from statewide "equity stripping" scheme that targeted financially trouble homeowners, court records show...

Rooker-Feldman, Issue Preclusion & The Kiboshing Of Homeowners' Federal Lawsuits Challenging State Court Foreclosure Judgments

Posted on March 27, 2011
Lexology reports:In recent decisions, various courts have relied upon the Rooker-Feldman Doctrine to bar a consumer?s federal claims regarding the validity of his or her mortgage after the lender obtained a state court foreclosure judgment. See, e.g., Mohorne v...

Attempts To Undo State Court Foreclosure Judgments In Federal Court & The Rooker-Feldman Doctrine

Posted on March 27, 2011
A recent ruling by a Federal Court of Appeals is one of several that serve as a reminder to financially strapped homeowners (and their counsel) who are considering filing for bankruptcy (or filing any lawsuit in a Federal court) for the purpose of specifically attacking an ongoing foreclosure action in a state court, you better do it before a judgment is entered by the state court...

Florida Foreclosure Mill Admits No Wrongdoing In Deal To Cough Up $2M To Cool Off The Heat From State AG Robosigner Probe

Posted on March 26, 2011
The Washington Post reports:A Florida law firm agreed Friday to pay the state $2 million in penalties for allegedly mishandling foreclosures ? the first deal of its kind since the uproar over the issue began last fall.The Law Offices of Marshall C. Watson was among the prominent law firms investigated by state authorities after major lenders, including Bank of America and J...

Ex-Foreclosure Mill King Struggles Off Mat, Takes Wild Swing At Freddie In Lawsuit Alleging $1.3M In Unpaid Fees

Posted on March 26, 2011
In Miami, Florida, Bloomberg reports:The Federal Home Loan Mortgage Corp. was sued by Florida attorney David Stern, who claims he is owed $1.3 million for legal services, according to a complaint filed [this week]. The government-run mortgage company breached its contract with Stern?s law firm by failing to pay, according to the complaint filed in federal court in Miami...

Florida Bar Prez Says Some Attorneys Face Profession's "Death Penalty" For Foreclosure Fraud; Outside Lawyer Hired To Work Specifically On Probes

Posted on March 26, 2011
The Palm Beach Post reports:Florida Bar President Mayanne Downs predicts some Florida attorneys will pay the ultimate professional price for foreclosure-related wrongdoing - disbarment - as investigations mount statewide. "It's the death penalty of the legal profession," said Downs, who spoke to The Palm Beach Post's editorial board this week about legislative proposals affecting the courts and

Homeowner Gets Dubious Letter Simulating Official Court Document Demanding Full Loan Payoff Sent By Attorney; Firm Refuses Media Inquiries For Comment

Posted on March 26, 2011
In Tampa, Florida, The Tampa Tribune reports:Two weeks before Glen Ables' new, modified mortgage payment was to go into effect, a mysterious letter arrived in the mail. It threatened to derail the plan to save his house from foreclosure. That letter, from a Tampa lawyer, said he and his wife had 30 days to send them the balance of their mortgage...

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