San Bernardino DA: Foreclosure Rescue Operator Took Illegal Upfront Fees, Duped Homeowners Into Signing Over Deeds, POAs In Sale Leaseback Ripoffs

From the Office of the San Bernardino County, California District Attorney:

• On Tuesday, May 10, 2011, Investigators from the San Bernardino County District Attorney’s Office Real Estate Fraud Prosecution Unit arrested Yunuen Medina, 26, of Corona, California near her residence.
• Medina worked for Home Recovery Trust, which operated an illegal loan modification business. The scheme involved taking upfront fees from the victims, having them sign Specific Power of Attorneys, in some cases Quitclaim Deeds, placing their properties into the Michael Martinez Trustee, and having the victims then make monthly payments, payable to "Home Recovery Trust."
• On Wednesday, April 20, 2011, the founder and owner, Luis Miguel Macias was arrested and currently remains in jail. Since his arrest, numerous victims have come forward from Riverside, Los Angeles, Ventura Counties, and from as far north as Reno, Nevada. This is an ongoing criminal investigation and more arrests are expected.
• Macias’ victims are usually Spanish speaking and unaware of the California Loan Modification Law, under California Civil Code, § 2944.7, which went into effect October 11, 2009. Medina has a no bail INS hold.

For the San Bernardino County DA press release, see Corona Woman Arrested for Real Estate Fraud.