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.
Wednesday, April 29, 2015
Staten Island Man Gets Seven Years In Loan Modification Racket; Admitted He Tricked Two Homeowner/Couples Into Believing He Successfully Renegotiated Their Home Mortgage Terms, Then Duped Them Into Turning Over The Monthly Payments To Him For Remittance To Lenders; Scammer Illegally Pocketed Over $185K
From the Office of the Monmouth County, New Jersey Prosecutor:
A Staten Island man was sentenced [] to seven years in a New Jersey state prison for stealing more than $187,000 from a pair of homeowners over a 33-month period, announced Acting Monmouth County Prosecutor Christopher J. Gramiccioni.
Mario Coniglione, 51, of the Tottenville section of Staten Island, was sentenced by Monmouth County Superior Court Judge Anthony J. Mellaci, Jr., on two counts of second degree Theft and was also ordered to pay restitution in the amount of $187,562.40 to the two victims.
At his guilty plea in December, Coniglione admitted he took payments from a Freehold couple totaling over $100,000 paid to him while purporting to act as a "broker," deceiving the couple into believing he had renegotiated the terms of their residential mortgage with their lender.
Coniglione collected regular monthly payments from the couple, who believed the payments were being made towards their residential mortgage, and kept the payments for himself rather than forwarding the payments to the victim's lender.
Coniglione also admitted he stole more than $78,000 in mortgage payments from a Jackson Township couple in a similar scheme.
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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