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.
Tuesday, April 04, 2017
Massachusetts AG Boosts Charges Against Indicted Real Estate Broker In Alleged Loan Modification Scheme, Now Accusing Defendant Of Fleecing 11 Financially Strapped Homeowners Out Of Over $464K In Mortgage Payments
From the Office of the Massachusetts Attorney General:
A real estate broker has been indicted on additional charges in connection with stealing more than $464,000 through a larceny scheme targeting homeowners facing foreclosure, Attorney General Maura Healey announced today [March 27].
Kevin Taing, age 49, of Lowell, was indicted  by a Statewide Grand Jury on the charges of Larceny Over $250 (9 counts). Eastern Funding & Investment, Inc. (EFI), owned by Taing, was also indicted today on the charge of Larceny Over $250. Taing and EFI will be arraigned in Middlesex Superior Court at a later date.
In November 2016, Taing was initially indicted on the charges of Larceny Over $240 (3 counts) and Obtaining a Signature by False Pretenses in connection with stealing more than $165,000 from three homeowners in Lowell and Lynn.
The AG’s Office began an investigation into Taing, a licensed real estate broker and principal of EFI, in late 2014 after a referral from a non-profit legal services agency. Authorities allege that Taing, who is of Cambodian descent and speaks Khmer, persuaded 11 homeowners of Cambodian descent facing foreclosure to make payments to EFI rather than the actual holder of their mortgage loans.
Authorities further allege that Taing led these families to believe that by paying EFI they would reduce their monthly payments, stay in their homes or otherwise resolve their mortgage issues.
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)
The information, reporting, and commentary contained in The Home Equity Theft Reporter are intended solely to provide general information on The Home Equity Theft issues occurring throughout the United States and are based on information sources deemed reliable by The Home Equity Theft Reporter.
This weblog is not intended, nor should it be regarded by the reader, as a solicitation for business. The posts on this site are presented as general research, information and personal opinion of The Home Equity Theft Reporter and are expressly not intended, shall not constitute, and should not be regarded by anyone, as legal advice.
No claims, promises or guarantees about the accuracy, completeness or adequacy of the information linked to or from this weblog are contained herein.