California Real Estate Fraud Report

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29
May

Petaluma man arrested in alleged mortgage modification scam

California Department of Justice agents have arrested Miguel Angel Lopez-Soleta after an extended investigation into allegations by homeowners that he did not fulfill promises to them to negotiate with banks for their mortgages.

Lopez-Soleta is facing 46 counts of fraud, grand theft, financial crimes against the elderly and burglary in a case in which 23 alleged victims have been named. The victims sought out assistance with him and his former company Mortgage Modifiers Inc., for help in modifying loans.

Lopez-Soleta and his wife, Heidi Beth Marks-Lopez, filed Chapter 7 bankruptcy in 2014. Their bankruptcy filing listed 537 creditors, many of whom claim that Lopez-Soleta charged them upfront fees (illegal since 2009) to help modify their home loans but never contact the lenders. As a result, some of those homeowners say they either lost their homes or were forced into even further debt.

Miguel Angel Lopez-Soleta’s real estate license was revoked in 2012. Click here to read a copy of the administrative action taken by the California Bureau of Real Estate.

Read the original article in the Press Democrat.

© 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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