Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Saturday, April 28, 2012
San Bernardino DA: Scammer Used Forged Signatures To Record 'Dirty' Deeds On Homes In F'closure, Then Renting To Tenants, Borrowing From Duped Lenders
From the Office of the San Bernardino, California District Attorney:
An Upland man who was arrested [...] by investigators with the San Bernardino County District Attorney’s Office has been charged with real estate fraud, identity theft, forgery, and preparing fraudulent credit applications. Thirty-eight-year-old Eric Lamonte Smith was arraigned [] in San Bernardino Superior Court. He pleaded not guilty to all counts.
The investigation began after investigators received a fraud complaint from a Notary Public who alleged that her signature and seal had been forged on a Grant Deed. As a result, investigators opened a criminal investigation which eventually revealed that Smith had been part of a suspected real estate fraud ring operating in San Bernardino, San Diego and Los Angeles counties since 2006.
The suspects allegedly filed fraudulent Grant Deeds on properties that were in the process of being foreclosed, causing the process to be delayed. The suspects would then rent the property to unsuspecting renters.
The suspects would also fraudulently obtain Home Equity Lines of credit on the properties, as well as use false information on credit applications to purchase luxury automobiles.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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