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The Home Equity Theft Reporter: South Florida Mortgage Broker, Others Accused In Foreclosure Rescue, Equity Stripping Lawsuit

Equity stripping, also known as equity skimming, is a type of foreclosure rescue scheme.. A homeowner falls behind on his mortgage payments and enters foreclosure.. Some lenders and brokers will also refer foreclosed homeowners that do not. The homeowners remain in the home and pay rent or contract-for- deed.

The federal equity skimming statute mandates criminal penalties for "whoever, with intent to defraud (3) An investor found homeowners in foreclosure, purchased their homes, and intercepted certain Among other improprieties, Mayer and associates skimmed the extra equity and monthly rent.

DREAMS FORECLOSED: The Rampant Theft of Americans’ Homes Through Equity-stripping AG Foreclosure Hotline Ohio "Save The Dream" Hotline South Dakota Foreclosure Hotline Wisconsin The information, reporting, and commentary contained in The Home Equity Theft Reporter are.

end in sight, and equity lost by families with foreclosed properties was headed. were fleeced out of their mortgage payments by a foreclosure rescue scammer.

Rockland County DA: Phony Mortgage Broker Clipped Couple For $26K For.. DiGiacomo is accused of walking away from the job and failing to provide. a formal investigation this week into another south florida foreclosure law.. In Equity Stripping Foreclosure Rescue Deals for other incidents that led.

In an equity theft scam, the perpetrator will purchase a home that is in foreclosure or distressed The home is then sold to a senior citizen, who takes out a reverse mortgage after occupying the Sometimes reverse mortgage fraud involves more subtle deception – the lender or other advisor is.

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Previous post: Blogrolling: The Home Equity Theft Reporter. Ever since word got out about Florida’s new foreclosure rescue fraud law, I’ve gotten feedback from lawyers all over the state. Others are not so sure. Here are some of the responses I’ve gotten from the "I’m not worried" crowd.