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.
Thursday, June 14, 2012
Connecticut Feds Charge Dad/Daughter Team Accused Of Targeting Dozens Of Homeowners With Phony Debt Elimination Ripoff
In Hartford, Connecticut, The Hartford Courant reports:
Federal tax agents on Tuesday accused a father and daughter from Wethersfield of using a far-fetched and phony debt-elimination scam to steal thousands of dollars from new U.S. immigrants living in Connecticut and elsewhere.
Because of the scam, through which Deowraj Buddhu and his daughter Sunita collected thousands of dollars in fees from so-called clients, several of the clients were persuaded that they no longer had to make mortgage payments and ultimately lost their homes through foreclosure.
The Buddhus are accused of claiming that they could help clients tap a secret government fund created to help homeowners pay mortgages and other debts. The fund was a fiction. But federal tax agents said that, beginning in 2009, the Buddhus convinced immigrants with little education or familiarity with financial instruments that the federal government was providing money for its citizens to pay bills.
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A government affidavit filed in court said that Deowraj Buddhu is a citizen of Guyana and is the subject of a federal deportation order. The same affidavit said Sunita Buddhu had reservations on a flight Tuesday from New York to Guyana. Federal authorities would not discuss her whereabouts.
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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