California Real Estate Fraud Report

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Loan Modification Scammers Busy in Los Angeles

It’s not secret that California is one of the hardest-hit states for foreclosures. It’s therefore also not surprising that there is no shortage of “foreclosure vultures” preying on homeowners in trouble. Mayor Antonio Villaraigosa and California Real Estate Commissioner Jeff Davi held a news conference this week to issue warnings to homeowners in English and Spanish to turn away “loan consultants” and the like.
Homeowner Jose Hernandez of Pacoima was approached by such a man outside his church, who promised to help Hernandez save his home for $300. The man disappeared with Hernandez’ money and did nothing.

At a recent foreclosure avoidance clinic held last year in Riverside County, men carrying clipboards and dressed in suits like bank executives were approaching homeowners waiting in line. They were arrested for attempting to represent themselves as working for the lenders that were there.

© Copyright 2007-2018 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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