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.
Sunday, July 29, 2012
Bail Set At $250K Each For Trio Accused Of Running Upfront Fee Loan Modification Foreclosure Rescue Ripoff Throughout Southern California
From the Office of the Ventura County, California District Attorney:
District Attorney Gregory D. Totten announced [] the filing of a felony complaint against Los Angeles residents Nino Vera (DOB 4/25/60), Rene Solis (DOB 1/17/60), and Hector Menendez (DOB 5/23/56).
Vera is charged with nine counts of foreclosure consultant fraud and two counts of grand theft. Solis is charged with five counts of foreclosure consultant fraud and three counts of grand theft. Menendez is charged with two counts of foreclosure consultant fraud and one count of grand theft.
The charges arise out of a fraudulent home loan modification and foreclosure rescue program operating across Southern California under the business name of “Sunset Beach Management.”
The defendants are accused of collecting thousands of dollars in upfront fees from struggling homeowners while promising to modify mortgage loans and “save” their homes from foreclosure. The victims received no actual services from the defendants and, in addition to losing thousands of dollars, many lost their homes through foreclosure proceedings. Total victim losses are estimated to exceed $78,000.
The arrests of Vera, Solis and Menendez in Los Angeles follow a two-year investigation by the District Attorney's Real Estate Fraud Unit. Bail was set for all three defendants at $250,000.
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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