California Real Estate Fraud Report

This blog exists to educate law enforcement and consumers as to the kinds of real estate crimes being committed in the state of California. I assemble timely news reports of real estate fraud, mortgage fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams and elder financial fraud in order to spotlight real estate professionals and businesses who are being prosecuted for real estate crimes -Monique Bryher

Archive for the 'Predatory Lending' Category

Thousand Oaks couple get prison for mortgage fraud

December 18th, 2009 at 10:20am

Sonya Tucker, aka Cheri Tucker, and Terrance Tucker, aka Terry Tucker, are each going to federal prison for approximately 10 years.

The husband and wife team of mortgage brokers and real estate agents pleaded guilty to bank fraud after being prosecuted for processing fraudulent loan applications. They were originally charged with scamming real estate investors, many elderly, after promising them 12 percent rates of returns.

The Tuckers were prosecuted by Assistant U.S. District Attorney Mark Aveis, who said “There are plenty of federal prison beds for criminals like the Tuckers”.

Read the Full Article in the Thousand Oaks Acorn.

Panel Discusses Trends in Real Estate Fraud

June 28th, 2009 at 10:22pm

Many of the issues that are reported in the California Real Estate Fraud report - elder financial fraud, rental fraud, and the now tradition (sic) mortgage fraud, loan fraud and real estate fraud that became so common they qualified as business-as-usual during the subprime mania - were topics of discussion at a panel of real estate experts held in downtown Antioch last week.

Billed as the Contra Costa County Real Estate Fraud Summit, the summit included Terrence Christopher Patterson, of the state Department of Real Estate, an agent from the U.S. Secret Service who discussed identity theft resulting from loan applications being mined for personal data, and other local professionals.

Read the Full Article in the San Jose Mercury News.

There’s a New Real Estate Fraud Unit in Town

January 15th, 2009 at 10:35pm

The Los Angeles County Board of Supervisors is creating a new Real Estate Fraud/Predatory Lending Task Force to help homeowners who may have been victimized by predatory lending practices. Newly-elected Supervisor Mark Ridley-Thomas believes such as task force is necessary in Los Angeles County, where foreclosures have increased elevenfold in the last three years.

From 2006 to 2008, the number of home foreclosures in the L.A. County increased from 3,151 to 35,811.

The new task force may grow to include state and federal agencies

Complaints are already coming in from people victimized by the deceptive practices of home loan modification facilitators and foreclosure consultants, who often demand upfront money (ILLEGAL in the state of California) and promise the homeowner they will get them a loan modification.

Read this excellent consumer Article from the Inland Valley Daily Bulletin.

© Copyright 2007-2010 Monique Bryher

Legal Disclaimer.

The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage 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.