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, June 29, 2016
Abuse Of POA To Pocket $19K Home Equity Loan Among Allegations Against Illinois Woman Accused Of Stealing Over $50K From Her 85-Year Old Dementia-Stricken Mom
In Quincy, Illinois, the Quincy-Whig reports:
A Quincy woman who police say misused more than $50,000 of her mother's money last year will go to trial in a financial exploitation of the elderly case.
Patricia A. Tipton, 58, pleaded not guilty to two felony counts [] in Adams County Circuit Court after Judge Mark Drummond found there was enough evidence to hold Tipton's case over for trial. Her case was placed on the September jury docket. If convicted, Tipton could be sentenced to between four and 15 years in prison. She would be eligible for probation, which could be for as long as 48 months.
Quincy police Detective Adam Gibson, who also is the Quincy Police Department's elder services officer, testified Tuesday that he began to investigate Tipton after he received a call from Mercantile Bank in February. Gibson said a bank employee said Tipton had been depositing large sums of money from a State Street Bank account belonging to Stella J. Stinnett, 85. Gibson said Tipton is Stinnett's daughter and has had power of attorney for Stinnett since June 2011.
Gibson said a review of bank records indicated that Tipton had deposited $24,000 from Stinnett's account into her account. Tipton also took out a home equity loan in Stinnett's name for $19,000, Gibson said, and numerous bills, including several credit cards and more than $4,000 in cellphone payments, were made by Tipton from Stinnett's account dating back to July 1, 2015.
Gibson said he interviewed Stinnett at her home Feb. 29. Stinnett was "extremely confused" when he spoke with her, he said, and she told him she was not aware that Tipton was spending the money. Gibson said Stinnett, who was diagnosed with dementia in 2013, was certain that Tipton would not misuse her money.
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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