Friday, August 14, 2009

Arrest Warrant Issued For Colorado Foreclosure Rescue Operator Accused Of Selling Houses Out From Under Financially Distressed Homeowners

In Denver, Colorado, the Denver Daily News reports:
  • A 31-year-old mortgage broker has been charged with multiple felonies after he was accused of scamming thousands of dollars from borrowers, investors and financial institutions. Kedrick McDuffie is accused of promising homeowners he could save their homes from foreclosure by having their original loans refinanced or taken over by another person. McDuffie allegedly sold the borrowers’ homes without their knowledge to private investors he worked with, collected brokerage fees from the sales, and stopped making payments on the loans, thereby allowing the properties to go into foreclosure. An arrest warrant has been issued for McDuffie, who is currently at large. His bond is set at $100,000.

Source: Man Charged In Brokerage Scam (2nd blurb from the top). DeedContraTheft