Criminal Cases Involving Foreclosure Rescue Arrangements Not Unheard Of

Transactions involving foreclosure rescue arrangements have occasionally been the subject of criminal prosecutions. The cases involved (1) those taking upfront fees and/or ongoing periodic fees for services never performed, (2) those who acquired overleveraged homes with no equity who proceeded to pocket the rent from the home without paying on the existing mortgage (ie. equity skimming / rent skimming), and (3) those who engaged in the so-called foreclosure bailout, foreclosure rescue, equity stripping arrangements.

For links to stories and cases involving criminal prosecutions in these situations, see Criminal Prosecutions Of Foreclosure Rescue Operators (posted on the companion blog, The Home Equity Theft Reporter Cases & Articles).