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, June 08, 2013
Ex-Investment Bankster Accused By His 86-Year Old Mom Of Strong-Arming Her Out Of Dead Hubby's Will, Swiping $500K+ Proceeds From Sale Of Marital Home
In New York City, the New York Post reports:
A former Lehman Bros. banker strong-armed his 86-year-old mother out of her husband’s will — and took a half-million dollars from the sale of her Fifth Avenue home, she charges in a lawsuit.
Helen Bacanovic, who stood by her older son Peter’s side when he was convicted of perjury in the 2004 Martha Stewart trial, lost her husband, Rabe, in January.
Her younger son, Paul, 49, filed a will with the court in February that named him as its “sole executor” and “left [Helen] no money,” the Manhattan Supreme court papers charge.
But his ailing mom insists in an ongoing Manhattan Surrogate’s Court case that Rabe’s “signature on page seven of the purported will appears to be a forgery.”
In that proceeding, Paul argues that his parents were separated when his dad died and that his dad willingly signed over his $220,000 estate to Paul’s kids.
His mom says she “suffered a stroke” on March 13 “and is in desperate need of money for her medical care and maintenance.” She adds that she sold the two-bedroom condo that she and Rabe owned at 923 Fifth Ave. for $1.6 million last spring and now lives on East 67th Street.
But, she says, Paul swiped $515,000 from that sale. He claims in legal papers that was to repay a $500,000 loan he gave his parents.
A lawyer for Paul yesterday declined to comment until after they’ve reviewed the lawsuit. His brother, Peter, 51, declined to comment outside his mother’s new Upper East Side digs.
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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