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, May 18, 2013
Illinois Family Facing Imminent Foreclosure Dodges Boot After Cleaning Out Kitchen Cookie Jar & Finding $4.85M
In Geneva, Illinois, WBBM-TV Channel 2 reports:
The timing couldn’t have been better for a family from north suburban Geneva when they hit the jackpot after finding some old Lotto tickets stuffed in a cookie jar.
Earlier this month, Ricardo Cerezo said his wife was cleaning the kitchen in the home they were about to lose to foreclosure. She told him to take the old Lottery tickets out of the jar and have them checked, or toss them out. “It was either take them, get them checked, or she was going to trash them that night,” he said.
So he took the tickets to a local gas station to get them scanned. The first 8 or 9 tickets weren’t winners. “The following one was $3, so I was excited. I get to pay for my Pepsi. And then the last one said file a claim,” he said.
Cerezo went online to check the ticket, and couldn’t believe it when the numbers matched the Feb. 2 Lotto drawing.
“As each number kept matching, the smile kept going higher and higher, and when I realized we had all six numbers, it was that shocking moment of ‘Whoa, can this really be?’” he said. “Fast forward to the next day, Monday; called in sick from work, went down into Chicago. It’s one of feelings where it’s okay if they fire me.”
He visited the Lottery offices in Chicago, and learned he’d won $4.85 million.
Just three months before finding the winning ticket, Cerezo stood before a judge at a foreclosure hearing for their home. He was given a few more months to find a new home before they would be evicted.
“That was on February 12th, so we were sitting on $4 million at that time in this jar,” he said. Cerezo said the family plans to pay off their home loan, get new cars, and give some of the winnings to charity.
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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