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, August 11, 2012
Albuquerque Cops, Feds 'Sting' Suspect Accused Of Hijacking Possession Of Vacant Homes In Foreclosure & Renting Them Out To Unwitting Renters
In Albuquerque, New Mexico, the Albuquerque Journal reports:
Stephen Jay Bonner, 43, was arrested Wednesday for allegedly entering homes that were vacant and in the process of foreclosure, then renting the houses as if they were his own, according to an Albuquerque Police Department news advisory.
APD detectives and agents of the U.S. Secret Service conducted a joint operation in which a resident of one of the properties used an undercover officer to make a fraudulent rent payment to Bonner, according to APD Officer Robert Gibbs.
The undercover officer observed the transaction, and Bonner was taken into custody without incident by uniformed officers from the Northwest Area Command in a traffic stop, the advisory said.
Bonner allegedly admitted breaking into houses on three different occasions and committed fraud in the rental scam, according to Gibbs.
He was booked into the Metropolitan Detention Center [...] and was being held on a $20,000 cash or surety bond, facing three counts of residential burglary and one count of fraud over $2,500 and under $20,000, according to online MDC records.
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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