California Real Estate Fraud Report

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Woman Commits Loan Fraud Against Mother-in-Law

A loan agent and her friend have been charged by prosecutors in Stanislaus County with defrauding the friend’s elderly mother-in-law out of her home’s equity and thousands of dollars in annuities, resulting in her home being foreclosed. Between the two of them, Susan Faustino, 49, and Diolinda M. Machado, 50, are scheduled to be arraigned April 11 in Stanislaus County Superior Court facing a combined more than 40 charges, including grand theft, obtaining property under false pretenses, forgery and making false financial statements.

Using her mother-in-law Mary Machado’s home as collateral, Diolinda began taking out loans in January 2003 using her mother-in-law’s home as collateral; the loans were in Mary Machado’s name. The home had originally been paid off in 1996. Diolinda Machado refinanced the home three times between 2004 and 2006 and then obtained a reverse mortgage in April 2007. The prosecutor’s affidavit states that Mary Machado’s signature was on the original loan documents and were notarized by Susan Theresa Van Nieuwe, a name Faustino used. However, Faustino acted as the loan officer for one of the refinances and allowed Diolinda to falsely state her mother-in-law’s income  as $3,875.

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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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