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, February 22, 2017
Upstate NY Man That Targeted Foreclosed Homes In Title Hijacking Racket Cops Guilty Plea In One County; Prosecutions In Neighboring Jurisdictions To Continue
In Troy, New York, the Albany Times Union reports:
An Albany man who was the focus of a multi-county investigation of phony property deeds pleaded guilty to forgery and falsification of business records on Friday [February 17].
Zarak O. Ali, 43, is expected to be sentenced to 3 to 9 years in state prison as part of the plea deal reached by his attorney and the Rensselaer County District Attorney's office.
Ali pleaded guilty to the charges after state Supreme Court Justice Andrew Ceresia outlined the parameters of the deal in court.
Prosecutors said it was expected that Ali's sentence would run concurrently with the sentence he receives for an expected plea in Albany County. But the judge said there was no guarantee that judges in Saratoga, Schenectady and Columbia counties would adhere to such a sentencing agreement.
Ali of Maiden Lane, Albany, was accused of forging deeds to five foreclosed properties in Brunswick, Rensselaer and Troy from January to March and filing them with the clerk's office, according to the indictment.
Ali listed his business address as 40 Wall St., New York City, the location for The Trump Building, in leases provided to tenants.
The State Police Special Investigations Unit uncovered evidence of forged deeds in Rensselaer County, as well as the Capital Region and Hudson Valley counties extending back 18 months. Authorities said the forged deeds affected people who believed they were getting a deal on buying a home or renting an apartment. The status of the other cases could not be immediately learned on Friday.
Ali was indicted in Rensselaer County in October on 20 counts charging that he forged deeds for properties around the county. He was charged with second-degree forgery and criminal possession of a forged instrument and first-degree falsifying business records and offering a false instrument for filing.
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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