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.
Thursday, December 10, 2015
Illinois AG Files Civil Lawsuit Accusing Loan Modification Operator Of Ripping Off Homeowners Out Of Upfront Fees, Then Failing To Provide Promised Services
From the Office of the Illinois Attorney General:
Attorney General Lisa Madigan filed suit against a Cicero company and its owner for a mortgage rescue and consumer fraud scheme that illegally charged consumers approximately $20,000 in upfront fees that resulted in little, if any, help to stay in their homes.
The Attorney General filed suit in Cook County Circuit Court against Carrey Services, Inc. and its president Reynaldo Rojas. The lawsuit seeks to shut down the business and obtain restitution for consumers.
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Madigan alleges the defendants advertised in Spanish-language newspapers and primarily targeted the Latino community with loan modification services. Madigan alleges the business owner met with consumers and made them sign various loan modification documents, but never provided the consumers with copies. In many instances, the documents were printed in English even though most consumers were Spanish-speaking.
In addition, Madigan alleges the defendants charged upfront fees that exceeded the amount allowed under state law. Then, after failing to do any work, the defendants refused to provide refunds and, in many cases, were unresponsive to mediation letters from the Attorney General's Office.
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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