Federal Grand Jury Investigating Central Florida Foreclosure Rescue Operator

The Orlando Sentinel reports:

• "A federal grand jury is investigating an alleged "foreclosure rescue" scheme that targeted Hispanics across Central Florida, leaving scores of homeowners facing eviction. Federal investigators said this week that they are taking aim at a now-defunct Tampa company known as 4 Solutions Inc., which allegedly siphoned off hundreds of thousands of dollars in homeowner equity from dozens of families. The company is accused of luring homeowners into deals that promised to prevent foreclosure, but instead duped them into giving up their homes. [...] Anthony Suarez, an Orlando lawyer representing more than two dozen of the homeowners, said the lost home equity for his clients could top $900,000."

Reportedly, 4 Solutions closed its doors when the grand-jury investigation started several months ago. In one case, a husband and wife who were victimized were never in danger of foreclosure. They wanted to tap into their home equity to help pay the mortgage while the wife was on pregnancy leave.

For more, see Hispanics feel victimized after 'foreclosure rescue'.

For a Tampa Tribune story on 4Solutions, see Foreclosure Prevention Company Is Under Investigation (8-4-07):

• Carmen Maria Oliveri was arrested by Tampa police June 7 on charges of 'grand theft of $100,000 or more' and 'organized fraud over $50,000.' According to the arrest report, in August 2005, Carmen Maria Oliveri 'entered into a scheme to defraud' a homeowner. The report states that 'Jose and Carmen Oliveri presented terms of a loan without disclosing to the victim that he was signing over the rights to the property' to 4 Solutions. The company sold the property without the person's knowledge.

Go here for 4 Solutions website (no longer available online).

Go here for other posts on 4Solutions.