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.
Tuesday, July 03, 2012
F'closed Landlord Faces Felony Charges For Continuing To Pocket Rent Payments From Former Tenants; One Victim Left Holding The Bag On Rent To Own Deal
In Delaware County, Pennsylvania, The Delco Daily Times reports:
A landlord who lost a majority of his nearly 200 rental properties to foreclosure is charged with stealing rent money from his former tenants.
Jeffrey S. Bobb, 44, of Cherry Hill, N.J., allegedly collected more than $10,000 in rent payments from several former tenants even though he no longer owned the properties, according to the affidavit of probable cause written by County Detective Matthew Cresta of the Economic Crimes Unit.
Bobb, owner of JSB Properties, Tross Associates and Chester Redevelopment Incorporate, owned and managed approximately 200 rental properties in Delaware County — the majority of which are now in foreclosure because of delinquent taxes or mortgage payments, the affidavit states.
One woman, who was represented by an attorney, entered into what she believed was a lease/purchase agreement with Bobb for a property on East 24th Street in Chester last October. She made several payments to Bobb totaling $5,920 before discovering the house was in foreclosure and he no longer had ownership of the property, according to the affidavit.
Bobb’s alleged scam came to light last July when a Marcus Hook police officer was called to investigate an incident in which the resident of a home on Yates Street made a rent payment to Bobb even though the property had been sold at a sheriff’s sale several months earlier.
***
Bobb was arraigned [] on charges including theft by unlawful taking, theft by deception, receiving stolen property, misuse of communication facilities, all felonies, and related offenses. He was released on $20,000 unsecured bail.
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)
<< Home