California Real Estate Fraud Report

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23
Jul

Glendale Gets $189,000 to Fight Real Estate Fraud

The residents of Glendale can rest assured that officials there take real estate fraud very seriously.

In the past five years, the Glendale Police Department has received over $570,000 in grants from the Los Angeles County Real Estate Fraud Prosecution Trust to investigate and prosecute suspected cases of real estate fraud. The Trust is funded by a $3 fee added to the cost of filing fees for documents entered into the Los Angeles County Registrar-Recorder/County Clerk.

According to Glendale Police Det. Shawn Milligan, victims of real estate fraud suffer extreme stress from losing their homes to con artists or finding out that a criminal has taken a loan out against their home (equity stripping). At that point, it’s up to the Glendale Police Department’s Financial Crimes unit to investigate the alleged crimes, which can take up to 18 months.

Last week, the unit received an additional $189,000 grant from the City Council. One of those who supported the grant motion was Councilman Ara Najarian, who said he experienced real estate agents trying to get him to pay unnecessary fees on his purchase.

Read the original article in the Glendale News Press.

© 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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