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.
Monday, August 27, 2012
Nevada AG Indicts Las Vegas Pair In Alleged Scam Purporting To Save Homeowners From Foreclosure With Mortgage Balance Reduction Refinancing Program
In Las Vegas, Nevada, the Las Vegas Sun reports:
A Clark County grand jury has indicted two Las Vegas men in a mortgage-lending fraud case in which victims lost thousands of dollars, Nevada Attorney General Catherine Cortez Masto announced Wednesday.
The grand jury on Aug. 15 returned an 18-count indictment charging Gary Dimattia, 62, and Lawrence Bateman Jr., 36, with multiple felony charges, including mortgage lending fraud and theft. They operated under the firm Financial Link Services.
Authorities allege the pair made false claims from April 2009 to August 2010, saying they could rescue homeowners looking to refinance their mortgages by negotiating new loans through a balance reduction program. The program, however, did not exist, officials said.
Dimattia and Bateman collected an upfront fee — often from $3,495 to $3,895 — from victims for the proposed service that was never performed, officials said.
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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