New Hampshire Man Faces Charges Of Illegally Pocketing Upfornt Fees, Failing To Make Good On Promises In Separate Loan Modification, Refinance Scams

From the New Hampshire Department of Justice:

• [Eric W.] Eliason [aka Ricky Masci], 30, of Tamworth New Hampshire, is charged with crimes that occurred in connection with his business, Deaf and Hard of Hearing Mortgage Consultants.(1) The first set of complaints allege that the defendant took up-front money to assist hard of hearing victims in completing a loan modification of their home mortgage. The complaints allege that numerous representations were made to the homeowners that the modification was in process, and then that the modification was denied. It is further alleged that the defendant had never contacted the mortgage company to perform a modification. It is also alleged that Eliason intended to take advantage of the victim’s physical condition that impaired the victim’s ability to manage their property or financial resources or to protect their rights or interests.

• A second set of complaints allege that the defendant attempted to broker a re-finance of a home loan for another hard of hearing couple. It is alleged that he obtained up-front fees with the promise that in the event the re-finance was not completed, money would be refunded. No loan was obtained, and no money was refunded. Eliason was not licensed to conduct any of these transactions.

For the NHDOJ press release, see Arrest for Class A Felony Theft with extended term of imprisonment, Class B Felony Mortgage Fraud, Class A Misdemeanor Mortgage Fraud.

(1) Eliason faces charges of Theft by Deception, Failure to Obtain a Debt Adjustment License, Untrue Statement and Fraudulent Business Practice; and Failure to Obtain a Mortgage Originators License and Untrue Statements, according to the NHDOJ press release.