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.
Tuesday, July 23, 2013
Wanna-Be Homeowner Claims She's Out Several Thou$and After Buying Foreclosed Home On Craigslist From Seller That Wasn't Real Owner
In Evansville, Indiana, Tristate Homepage.com reports:
Evansville Police are investigating a very bizarre scam. A woman is out thousands of dollars after buying a home on eBay.
Letitia Melendrez claims she spent just under $2,000 to buy the North Third Avenue home on eBay. She then drove thousands of miles and moved in. "I thought that was a pretty good deal, wouldn't have to pay rent the rest of my life," she says. She thought she'd settle here, have family visit.
"We bought it so that his son would have a home the rest of his life, and we were going to fix this place up and do something with it," Melendrez says. "Me and my son put about three to four thousand dollars into the house after we bought it."
That good deal has turned into a bad and costly experience. Realtor Angela Bullock saw the home listed, but knew it had been foreclosed upon and is set to be auctioned off next month. "There were a lot of back assessments and back taxes that were owed," Bullock says. "It was a very substantial amount." Police say she drove by, saw people inside and called 911.
"Police showed up to my house and said I didn't own it my home," Letitia says. "I showed them the paperwork I had."
Melendrez's story checked out and she knows the sellers weren't the real owners. Now although she doesn't face any charges...She's out a home and thousands of dollars.
This was a scam. I got scammed," she says.
Bullock says the foreclosure crisis created plenty of opportunities for scammers. She adds if you're buying a home, make sure to know who you're buying it from and check for any unknown back taxes or fees owed.
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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