Manager Of Foreclosure Consulting Outfit Bagged & Held On $1M Bail; Accused Of Pocketing Upfront Cash From Homeowners In Or Nearing Mortgage Default

In Los Angeles, California, the Santa Maria Times reports:

• The manager of a Los Angeles-based foreclosure consultant organization with an office in Santa Maria has been arrested on suspicion of violating rights of residents whose homes were in or nearing default. Irma Diaz, 41, of Hacienda Heights was arrested by Santa Barbara County District Attorney’s Office investigators Thursday in Los Angeles County. She was booked into Los Angeles County Jail with bail set at $1 million, according to the District Attorney’s Office.

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• Diaz currently is facing two felony counts of committing prohibited foreclosure practices involving one alleged victim, but investigators believe there are more victims. “We suspect that there are many other victims out there, and the investigation is continuing,” said Dave Tonello, supervising investigator with the District Attorney’s Office.

• Investigators suspect Diaz took part in a scam where victims paid her money to refinance their homes, but she didn’t complete the process, according to Tonello. Her bail was set so high because authorities consider Diaz at risk of fleeing, he said.

For the story, see Foreclosure manager faces felony charges.

Go here for the Santa Barbara County DA press release.