Hire A Real Estate Lawyer To Protect You From Fraud

February 14, 2010
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A lot of people don’t want to go through a lot of work when it comes to selling their house.  The process of selling a house is complex with a lot of paperwork so it is best to get the right people to represent and protect you from possible troubles.  To make sure that you protect yourself from real estate fraud, hire real estate brokers, appraisers, mortgage lenders, real estate agents and lawyers.  These professionals can easily help and advice you on any move you make in the real estate market.

Hiring a real estate lawyer is the best way to…

Former Real Estate Assistant in Watson Realty Sentenced For a 33-Month Imprisonment

January 16, 2010
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A Camden County woman is sentenced to be imprisoned for 33 months by a federal judge, due to bank fraud in a theft of almost $100,000 from former employer’s business.

44 year-old Charlene Rivera of St. Mary’s will face the 50-count sentence as ordered by the U.S. District Judge Lisa Godbey Wood. During the hearing, Rivera’s lawyer renewed their arguments that the victim was to blame for not paying close attention to his bank accounts.

Wood rejected the argument and sentenced Rivera to pay $96,896 in restitution to her former St. Mary’s real estate agent boss, Steven Woolsey. The jury convicted her…

Alternative Lending of Colorado Sued for Deceptive Trade Practices

January 11, 2010
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After receiving more than 15 complaints, Alternative Lending of Colorado, a Colorado Springs-based company, and its managing general partner, James W. Dale III, 64, Pueblo West, Colorado, and top loan originator, April A. Bigler, 29, Pueblo West, Colorado, have been sued for allegedly deceptive trade practices.

According to the filed complaint at Fremont County District Court, Bigler engaged in deceptive trade practices like misrepresenting loans’ interest rates, quoting monthly mortgage payments to consumers that did not include taxes and insurance costs, and delaying closings to pressure consumers into signing a mortgage. It is also reported that Bigler worked with appraisers to…

Be Not a Victim of Real Estate Rental Scams!

January 3, 2010
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Victims of real estate rental scams have been so rampant nowadays. As these residential rentals increase in the economic market, the possibility of becoming a prey is also probable. Avoid becoming one by finding out through this article.

1. Always deal with a legitimate, licensed realtor when looking for rental property.
2. When looking through real estate rental listings in newspapers or web sites such as Craigslist, make a note of the property address, telephone addresses and other contact details provided in the advertisements. Run a Google search on these details to see if the same details come up in other entries.…

Former Countrywide Mortgage Broker Accused of Bank Fraud

December 23, 2009
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A former broker at Countrywide Mortgage named Alex Z. Biscocho, 42, from Portland, Oregon is accused of devising a scheme to defraud First Franklin Financial Corporation regarding the sale of his parent’s home in 2006.

He is alleged to have prepared a loan application on behalf of a third party borrower which contained falsified income and asset information. The indictment alleges that the borrower became concerned about the information contained in the closing documents and refused to complete the transaction. However, Biscocho still closed the $475,000 loan without the borrower’s knowledge and thereafter made two payments from his personal account. On…

Former Bank Employee, Guilty of Fraud

December 12, 2009
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A former Bank of America employee Clarista Bramble, 59, from Randolph, Massachusetts was pled guilty of fraud in federal court for creating false documents to secure approval of mortgage applications.

During the time Bramble was a bank employee from December 2006 to July 2007, she created false bank documents reporting fictitious balances for accounts of people applying for loans from various mortgage lending companies. In return, Bramble received cash payments and other financial benefits from those who are engaged in the scheme.

Bramble faces up to 20 years of imprisonment, followed by 3 years of supervised release and a $250, 000 fine…

5 Tips for Avoiding Foreclosure Scams

October 6, 2009
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There will always be someone who wants to take your money.

There are many of them out there, some will have worthwhile information, and some are predominately sales pitches to get you to spend more money. What sounds great during the presentation might not seem so great a week later.

Here are 5 ways on how you can avoid being involved in a foreclosure scam:

1. Work only with a non-profit, HUD-approved counselor.

If you are looking for help to prevent foreclosure, be sure the counselling agency is on the Department of Housing and Urban Development’s list of approved agencies. Visit HUD’s website for…

Postal Worker Sentenced For Fraud

September 23, 2009
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48-year old Lorita Frazier of Westminster, Maryland, and a clerk at the U.S. Postal Service at the Randallstown, Maryland post office, was sentenced by U.S. District Judge Richard D. Bennett to three years in prison, followed by 10 months of home detention with electronic monitoring as part of five years of supervised release.

The federal jury convicted her last June 18, 2009 of embezzling postal funds, bank fraud and wire fraud in connection with making fraudulent loan applications with a forfeiture judgement of $621,695.86.

She was responsible for consolidating the cash from all window clerks.  She embezzled approximately $74,000 by taking money…

CEO Indicted With $11 Million Mortgage Fraud Scheme

September 14, 2009
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David Findel of Colts Neck, New Jersey has surrendered on a single charge of wire fraud.

Findel is the CEO of Worldwide Financial Resources and is best known for his purchase of exclusive seats at a local football stadium.

It is but hard to imagine that a man like Mr. Findel, who has almost everything – fame and fortune, would still commit this kind of fraud.

According to FBI Special Agent In Charge Weysan Dun “”Mr. Findel made this company what it was. He had the skill and savvy for this business. But what I find most remarkable is that despite his wealth…

Multi-Million Dollar Mortgage Fraud Scheme Puts 9 in Indictment

September 14, 2009
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Charged with one count of conspiracy to commit bank fraud, in violation of Title 18, United States Code, Section 1343, and four counts of substantive bank fraud, in violation of Title 18, United States Code, Section 1344, the names of the 7 residents of Florida and 1 from Pennsylvania and 1 from somewhere we don’t know are listed below along with their roles in the alleged fraud case:

1. Mike Ohana, 39, Miami, Florida - would identify the properties used in this scheme
2. Michael Ramos, 29, Miami, Florida - a licensed mortgage broker who owned Go Expert Mortgage, a mortgage brokerage…