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.
Monday, January 16, 2017
Victim Of Sleazy Chicago Home Improvement Scammer Readies To Leave Home Of Over Half-Century After Elderly, Dementia-Stricken Mom Gets Duped Out Of Her Home Equity By Signing Reverse Mortgage To Purportedly Finance Repairs
In Chicago, Illinois, WBBM-TV Channel 2 reports:
She’s lived in her North Lawndale home for more than half a century. Now, Barbara Herron is facing eviction after what she calls a fraudulent reverse mortgage.
Herron starts packing up 55 years’ worth of memories. She says her mother, Effie Herron, had dementia and signed what she thought was paperwork for home improvements, to be done by Mark Diamond.
In 2013, Effie died. Soon after, her daughter says, she started getting letters that $180,000 was owed to Reverse Mortgage Solutions.
Herron says her family never saw a dime and Diamond kept the reverse mortgage loan proceeds.
The house had been paid off.
“I planned to live her and to die here, in this house. All my mother wanted was a place for her children to live,” Barbara Herron says.
The home went into foreclosure and has been sold.
Herron, who has severe asthma and uses a nebulizer to breathe, is now facing eviction.
“When I found out I needed a lawyer, it was too late,” she says.
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)
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