Another Alleged Foreclosure Rescue, Equity Stripping Scam Victim Points Finger At Head Brothers

In Lawndale, California, The Daily Breeze reports on the story of an area couple who say they were ripped off out of their home equity in an alleged foreclosure rescue scam by a guy named "Mike" and "Mike's" brother. According to the story:

• "Mike" was Jeremy Michael Head, 30, of Huntington Beach. He is now awaiting trial on a 13-count indictment for mail fraud, money laundering and other related offenses. Head and 15 others were indicted Feb. 28, charged with fraudulently taking $6.7 million.

• Head's brother, Charles Head, was the alleged ringleader of the scheme. He was indicted a second time on March 13 with six others. He is accused of orchestrating an "equity stripping" scheme that netted $5.9 million. More than 300 known victims and 150 homes were involved in the fraud, said Lauren Horwood, a spokeswoman for the U.S. Attorney's Office.

For more, see Lawndale couple counts cost of home fraud (Clark family hoped to reduce payments, but refinancing became nightmare).

Go here for other posts on the Head nationwide foreclosure rescue operation.