California Real Estate Fraud Report

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24
Jun

Latino Real Estate Agent Pleads Guilty to Scamming Latino Homeowners

A San Jose man who targeted the Spanish-speaking homeowners with a refinancing scam (affinity fraud) has pleaded guilty to accepting advance fees for loan modifications and performing unlicensed real estate activity, according to the Santa Clara County District Attorney’s Office.

Michael Mendoza, 56, was collecting upfront fees of $3,000 from his victims in exchange for promising them he would negotiate lower mortgage payments.

His employee Maria “Marilou” Jackson, 59, also pleaded guilty.

Both Mendoza and Jackson received three years of probation (what, no prison?), unknown fines and Mendoza was ordered to reimburse the victims.

Mendoza’s employee Maria “Marilou” Jackson, 59, also pleaded guilty. They were sentenced to three years of probation and fined. Mendoza also had to reimburse the victims for their losses.

Read the original article in the Silcon Valley Mercury News.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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