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.
Friday, August 19, 2016
Ex-Cop Gets Pinched For Duping Vulnerable Adult Into Signing Over POA, Then Proceeding To Sell Victim's Home Out From Under Her & Pilfer Sales Proceeds
From the Office of the Mississippi Attorney General:
A former Hinds County deputy sheriff is facing charges that she exploited a vulnerable person and committed forgery, announced Attorney General Jim Hood [].
Alice Holly, 55, of Jackson, was indicted by a Hinds County Grand Jury for one count of exploitation of a vulnerable person and one count of forgery. She was booked into the Hinds County Jail with bond set at $10,000.
The indictment accuses Holly of closing the victim’s bank account and transferring more than $5,000 to her personal account. While the victim was in a behavioral center, Holly allegedly had the victim sign over power of attorney to her. Holly is accused of then using that power to execute a quit claim deed to transfer the victim’s property into her own name, and then selling it and keeping the proceeds for herself.
In addition, Holly is accused of forging the signature of a second victim on a change-of-ownership form for a life insurance policy and making herself the beneficiary of the policy.
If convicted of exploitation, Holly faces up to 10 years in prison. She faces up to 15 years in prison for the forgery count. As with all cases, a charge is merely an accusation, and a defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
The Hinds County Sheriff’s Office assisted with this case, which is being investigated by Jamie Patrick and will be prosecuted by Special Assistant Attorney General Marvin Sanders of the Attorney General’s Vulnerable Adult Unit.
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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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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'
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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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