California Real Estate Fraud Report

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Six Northern California Residents Indicted for Mortgage Fraud

Six people  have been indicted by a federal grand jury for mail fraud in relation to a mortgage fraud scam.

 According to the U.S. Department of Justice, Temika Reed, 31, a straw buyer,  bought seven houses in Solano County between October 2006 and January 2007, telling the lenders in each case that the loan was to purchase a home that would serve as her primary residence. Her co-defendants are also charged with mail fraud; their role was to falsify Reed’s income and employment history. They are Buena Marshall, 65, and Jake Weathers, 35, of Sacramento; Deborah Loudermilk, 53, and Kadest Harris, 57, of Suisun City; and Reginald Dodson Sr., 40, of Tracy.

Reed’s pay for acting as a straw buyer was the proceeds from getting inflated appraisals for the homes as well as falsifying repair issues.

Read the original article in the Silicon Valley Mercury News.

© 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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