California Real Estate Fraud Report

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12
Jun

Foreclosure Scamming in Contra Costa County

A landscaper recently lost his home to foreclosure, but not because he didn’t make his mortgage payments.

Elias Escobedo, 41, was sold a home by Rodney Alonzo Bullard in 2004. Bullard later told Escobedo that his credit was bad (but not bad enough not get the loan!) and that Bullard could clean it up. Bullard’s ideas was to use a straw buyer to “hold” the property and “park” the deed, they would refinance the home and take money out to pay the mortgage.

Bullard, who has been charged two felony counts of forgery and grand theft by the Contra Costa County D.A.’s office, has disconnected all his telephone lines.

According to the FBI, California ranks 4th nationwide in mortgage fraud, trailing Florida, Nevada and Michigan.

Read the Full Article  by Barbara E. Hernandez in The Contra Costa Times

© 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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