California Real Estate Fraud Report

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Bakersfield Mortgage Fraud Case – All in the Family

A Bakersfield real estate agent and her parents have pleaded no contest to a number of felonies related to the fraudulent purchase of residential properties (mortgage fraud).

In describing his case against Guadalupe Ramirez, her mother Maria Ramirez and father Augustine Ramirez, prosecutor Gordon Isen of the Kern County Deputy District Attorney‘s Office  said “No one could possibly claim that this was innocent conduct that was just misunderstood.”

The Ramirez family was accused of conspiring to buy the homes  using pumped up appraisals (appraisal fraud).  Augustine Ramirez told lenders they he intended to live in the homes (at least 5) and then defaulted immediately, skimming the cash from the top. The lenders lost $4.1 million as a result.

You will find an earlier article about Guadalupe Ramirez by search this blog.

Read the original article in the Bakersfield Californian.

© 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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