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, October 17, 2015
Cops: Suspect Reeled In, Fleeced 76-Year Old Homeowner Out Of $9K With Phone Call Convincing Him His Home Was In Foreclosure, Falsely Promising Victim To Stop Foreclosure
In Linden, New Jersey, nj.com reports:
A Piscataway woman faces charges of scamming a 76-year-old city man out of $9,000 in a scheme that authorities say may be targeting Indian-Americans.
Mahwish Chaudry, 31, was arrested Sept. 25 for the scheme in which she told the victim he was in danger of losing his home, police said.
Last May, Chaudry called the man claiming she was employed by a financial company and that his home was in foreclosure, said police Capt. James Sarnicki.
He said Chaudry then told him that she could drive him to the bank to make a cash withdrawal and turn the money over to her to save his house. The victim complied and gave Chaudry $4,000 in cash, the captain said.
Several days later, the woman called the victim again and said they needed more money to prevent the foreclosure, Sarnicki said. He said this time Chaudry was accompanied by a second woman, and the two of them drove him to a local bank where he withdrew $5,000 and gave it to them.
The victim subsequently reported the incident to police and Detective Kenneth Mikolajczyk investigated the case and obtained an arrest warrant for Chaudry, Sarnicki said.
He said Chaudry was released pending a court hearing.
Police warned that this scam may be occurring in the Indian-American community and ask that any other victims come forward to their local police departments.
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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)
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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)
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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
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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)
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ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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