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.
Friday, July 06, 2012
Homeless Man Scores Temporary Stay In Daytona Beach Jail After Being Pinched For Allegedly Using Vacant Foreclosed Home In Craigslist Rent Scam Ripoff
In Ormond Beach, Florida, the Orlando Sentinel reports:
A homeless man used Craigslist to illegally collect more than $1,000 renting out a foreclosed home he didn't own in Ormond Beach, according to the Volusia County Sheriff's Office.
"The man's new income stream came to an abrupt end Sunday," agency spokesman Brandon Haught wrote. "Eric Sisson …now has a place to stay in the Volusia County Branch Jail in Daytona Beach where he faces seven criminal charges."
The case began last month when a 19-year-old Daytona Beach woman answered a Craigslist ad to rent the house on Arroyo Parkway. She toured the home and later met Sisson on June 25 and gave him a $400 cash deposit, followed the next day with $550 more in cash, records show.
Later, she became suspicious, requested the return of her money and was given a check by Sisson that bounced at the bank, records show. By then, a 29-year-old Ormond Beach woman already had moved into the house after giving Sisson a $425 deposit, records show.
When the women contacted authorities, deputies contacted the house's owner in Port Orange who said she didn't know Sisson and hadn't given anyone permission to rent the house that was in foreclosure, records show.
On Sunday, Sisson, 27, returned to the house to collect remaining rent and was arrested by deputies. At first, he claimed to own the three-bedroom home but then admitted "he had scammed the victims because ... he needed the money he took to get a place to live."
Sisson remains jailed on charges of obtaining property by fraud, uttering a worthless check, three counts of unarmed burglary and two counts of grand theft. Deputies also learned he had outstanding warrants in Brevard County for worthless checks and driving with a suspended license, as well as in Indiana for forgery and grand theft.
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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