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, September 03, 2012
Vegas Scammer Pleads Guilty To Screwing Distressed Homeowners Out Of Upfront Fees In Exchange For Phony Loan Mod, Refinance Promises
In Las Vegas, Nevada, the Las Vegas Review Journal reports:
A Las Vegas man accused of defrauding distressed homeowners trying to refinance or adjust their home mortgages pleaded guilty [] in federal court.
Alex Soria, 65, pleaded guilty to wire fraud in the mortgage scheme, which occurred between May 2008 and January 2010. He also pleaded guilty to theft of government funds in a separate scheme to illegally collect $208,106 in disability benefits from the U.S. Social Security Administration between 1990 and 2010.
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Soria, who had worked in the mortgage lending business since about 1970, was indicted in April 2011. The indictment charged Soria with falsely telling homeowners that he was a loan officer with Amwest Capital and that he could help them get relief with their mortgages through two federal programs.
He acknowledged in his plea agreement that he provided homeowners with phony letters sayng they were pre-qualified for a new loan and concealed from his clients that he was not licensed to act as a mortgage agent.
When he applied for federal disability benefits in 1990, Soria indicated that cataracts and a kidney condition kept him from working. He acknowledged in his agreement that he continued to collect the benefits long after he returned to work in the mortgage business.
Soria also is facing state charges in a mortgage and foreclosure scam.
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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