California Real Estate Fraud Report

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Terrill Meisinger Pays $5 Million in Mortgage Rescue Scam

Terrill Meisinger, a Seal Beach resident has settled a case with federal prosecutors who accused him of operating a foreclosure rescue scam.

Meisinger agreed to pay $5 million as a penalty in the case, which ran from 2000-2004. Prosecutors out of the U.S. Attorney’s Office in Los Angeles accused Meisinger of convincing down-on-their-luck homeowners to deed their properties to him for cash payments of $500 to $1,500. He then transferred the title to third parties and filed bankruptcies that caused automatic stays to be placed on the foreclosure proceedings (bankruptcy fraud). The third parties had no awareness of the scheme, as their identities had been stolen by Meisinger, who then rented out the properties out to unsuspecting parties.

While I’m glad that Terrill Meisinger is paying back his ill-gotten gains, I’m very disappointed that prosecutors did not put him in prison, where he belongs, in my opinion.

Read the original article in the Los Angeles Times.

© 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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