California Real Estate Fraud Report

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31
Jul

No-nonsense Orange County D.A. Combats Real Estate Fraud

Speaking at a foreclosure prevention workshop last week, Orange County District Attorney Tony Rackauckas and Assistant District Attorney Elizabeth Henderson, made it clear that their latest mission is to crack-down on real estate fraud.

Once the epicenter of of the subprime industry, Orange County is suffering record foreclosures like most regions of California. Says Henderson, “The only thing worse is being the epicenter of an earthquake”. She said that real estate fraud cases comprise 30% of the D.A.’s major fraud unit investigations, up from 10% before the collapse of the mortgage industry. The D.A. has two prosecutors and a paralegal devoted to real estate fraud now, and Henderson said bluntly “We want to send people to jail”.

Henderson and Rackauckas are also intensely focused on mortgage foreclosure rescue scams, aka loan modification scams. They have been co-participants in the investigations by Attorney General Edmund G. Brown’s office that have resulted in numerous arrests and  shut-downs of such businesses (see previous articles on the California Real Estate Fraud Report) and are warning scammers that they will even look to prosecute the smaller players that are scamming desperate homeowners.  Many of these people not only lose the $2,000 – $3,500 they pay the foreclosure rescue firms, they lose their house because these firms do little or nothing to keep the homeowner’s firm out of foreclosure.

Read the Full Article in the Orange County Register by Mathew Padilla.

© 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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