California Real Estate Fraud Report

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06
Jun

Petaluma Owners of Mortgage Modifiers Appear in Bankruptcy Court

Miguel Angel Lopez-Soleta and his wife, Heidi Beth Marks-Lopez have filed Chapter 7 bankruptcy following a criminal investigation into Lopez-Soleta’s firm Mortgage Modifiers, Inc.

Mortgage Modifiers claimed to help homeowners who were underwater to save their homes by restructuring their debt. But at the hearing, dozens of Lope-Soleta’s creditors accused him of taking thousands of dollars from them and failing to follow through with lenders, causing them to lose their homes or drop deeper into debt.

Calling Lopez-Soleta and Mars-Lopez “Hey, snake!” “Hey slime ball!”, the creditors and their attorneys claimed that the couple stole their money, and instead of using to help them as promised, financed a life of luxury, including expensive vacations, jewelry and other extravagant purchases.

Read the original article in the Press Democrat.

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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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