Orlando TV Station Unveils Possible Central Florida Equity Skimming Operation

WKMG-TV Channel 6 in Orlando, Florida reports:

• "A Local 6 investigation unveils how some Central Floridians who thought they were on their way to home ownership may be caught up in one of the worst cases of mortgage fraud to hit the area, according to Problem Solver Steven Cooper."

The article highlights the stories of two aspiring homeowners who initially did business with a company called Livewire Properties. One homeowner entered into a "rent-to-own" arrangement to buy a home; the other reportedly bought her home using owner financing. Apparently, both homes had existing mortgages that were not paid off upon the consummation of each transaction. Each homeowner says that he/she unwittingly paid Livewire monthly payments without realizing that Livewire stopped applying the payments to the mortgages owed to the bank. Now, both homes are in foreclosure.

The story then takes an odd twist. Now that the homes are in foreclosure, two new companies stepped in, including Firenze Property Solutions owned by Robert Bove. Reportedly, Bove claimed he can save the homes if the homewoners start making payments to him. Bove's foreclosure rescue pitch is claimed to be the working out of "short sales" with foreclosing mortgage lenders.

Reportedly, Bove's past includes being wanted in New York on 37 felony counts. Go here to watch the full WKMG Channel 6 TV report (reported by Channel 6's "Problem Solver" Steven Cooper).

To read the online story, see Local 6 Investigates Man Promising To Save Homes.

For update on Robert Bove, see WFTV Channel 9 - Orlando: Man Sentenced To 13 Months For Writing Bad Checks In Real Estate Deal (Robert Bove, accused of using bad checks in a real estate scheme, has been sentenced to 13 months in prison, pleading no contest to grand theft. Investigators said he wrote bad checks worth more than $31,000 to buy a condo duplex in Apopka. Bove was also accused of using bad checks to buy condos then re-selling them before the original check was deemed worthless.).

Go here for other posts on "rent to own" scams.

For other recent stories on Robert Bove, see:

Flight ends in harsher sentence (Con artist who skipped court date sees his prison term doubled) (2-26-08 - Albany Times Union),
Mobile-home park residents still hoping for changes (Palamar's would-be savior has a criminal history. Will he improve their living conditions?) (8-19-07 - Orlando Sentinel),
Man Who May Buy Trailer Park Has Record (WKMG Channel 6 - Orlando),
Park finds a buyer -- with a catch (Orlando Sentinel), and
New Owner Of Mobile Home Park May Evict (WKMG Channel 6 - Orlando) or watch Channel 6 TV report - Eviction Fight. alpha rent to own lease purchase option scams zebra