Tuesday, November 15, 2005
Myrtle Beach Sees Increasing Tide of Mortgage Fraud
The Sun News of Myrtle Beach, South Carolina has been running a series on mortgage fraud in their area. The initial stories appeared October 23 with follow-ups on November 13. Further stories are expected.
So far, the following stories have been featured:
Bank-account boosts help secure mortgages, by David Wren, The Sun News - November 13, 2005
Two Laurel Woods subdivision home buyers received deposits into their bank accounts from mobile home dealer Randy Conner, thus making it appear to mortgage companies that the buyers had enough money for down payments and other loan fees, The Sun News has learned. . .
U.S. attorney: Mortgage fraud cases on rise; by David Wren, The Sun News - November 13, 2005
Kevin McDonald, an assistant U.S. attorney in Columbia, said the number of mortgage fraud cases he’s seen has grown in recent years, due in part to the state’s hot housing market, particularly in the Upstate and along the coast.
Last year, for example, McDonald successfully prosecuted 21 individuals in the Greenville area who took part in a fraud scheme in which appraisers, mortgage brokers, attorneys and loan officers falsified mortgage documents and inflated the value of the property they were selling. . . .
NO CASH, NO HOME; by David Wren, The Sun News - November 13, 2005
At least 106 families have lost their homes to foreclosure since 1999 in Laurel Woods, a 135-acre manufactured-housing neighborhood with 369 homesites in the Burgess community, an investigation by The Sun News shows.
That is the highest foreclosure rate - an average of more than one out of every four homes - for any Grand Strand neighborhood, according to Michelle Halstrom, a local real estate agent who tracks foreclosures. . . .
Company misrepresented facts, suits say, by David Wren, The Sun News - October 23, 2005
Beach Mortgage, the company that arranged financing for some of the foreclosed Laurel Woods homes, is facing a pending lawsuit in Horry County claiming that it provided inaccurate financial information, such as a nonexistent down payment, on a mortgage application.
It is the second lawsuit since 2000 in which home buyers say Beach Mortgage included misleading information on loan documents. . . .
A couple’s disappointing run at the American dream; by David Wren, The Sun News - October 23, 2005
It has taken Sylvia Orlando more than three years to start to rebound from the foreclosure of her home at 8373 Cherrywood Drive, and the recovery is far from complete.
Orlando is trying to put a 2001 bankruptcy filing behind her and has been renting a home for the past year with help from the Myrtle Beach Housing Authority. She hopes to qualify for a mortgage in the coming months through a federal program that helps the disabled get home loans.
“Now that I’ve gotten my credit cleaned up, I’m hoping things start working out better,” she said. . . .
One home, two families, same problems; by David Wren, The Sun News - October 23, 2005
The home at 8546 Woodfield Drive has been sold twice in the past four years, and in both cases seller Clayton Mobile Homes has released the owners from their purchase contract because of complaints that the Laurel Woods home is uninhabitable because of mold and water damage.
“We thought we had found our dream home,” said Traci Dellinger who, with her husband, Allen Dellinger, bought the double-wide mobile home in September 2001.
“But it was just one problem after another,” she said. “In the end, it wasn’t worth sacrificing our health to live there.” . . .
A SAMPLING OF HOMES IN LAUREL WOODS; by David Wren, The Sun News - October 23, 2005
The owner | Daimon Gamble
The home | Gamble financed a 2001 mobile home at 8177 Woodland Drive in April 2001 with a $103,500 mortgage from First American Mortgage Securities Inc.
What happened | The 30-year mortgage had a 12.99 percent annual interest rate and payments of $1,144.11 per month. Gamble made four payments before defaulting, and a foreclosure suit was filed in March 2003. His home was sold at auction for $500. . .
mortgage fraud
Had no idea such mortgage fraud was so rampant in the industry.
Are people needing credit recovery or a chance to recover from bankruptcy?
Posted by
Edward Bisquera on 11/20 at 07:49 AM
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Some Sources require Registration.
Mortgage Scam Ends with Prison
The Morning Call
A judge didn't hold back when Shirley Matthews appeared before him Tuesday to be sentenced for stealing from a Monroe County man instead of helping him save his home from foreclosure, as she was hired to do.
Woman Gets Prison Time After Mortgage Scam Conviction
Pocono Record
A New Jersey woman will be spending two to five years in state prison after she was sentenced on Tuesday for promising to help homeowners avoid foreclosure and then keeping the money she was given for their mortgages.
2 Indicted in Mortgage Scam Face New Charges
Newsday.Com
Prosecutors add extra charges to two who are charged in LI mortgage fraud with county legislator, dominatrix and her husband
Untangling Mortgage Fraud in Chicago Condo Buildings
Chicago Public Radio
Why did so many units go into foreclosure all at once? In some cases, the reason can be traced to mortgage fraud.
No Contest Plea Entered in Real Estate Fraud Case
Northbay Business Journal
Juan Carlos Alcala of Windsor pleaded no contest to nineteen felony counts and admitted three special allegations for defrauding real estate investors, money laundering and elder fraud.
Bedford Woman Sentenced to a Year in Prison for Mortgage Fraud
Plain Dealer
Sharon Cox, 49, of Bedford, was sentenced today to a year in prison for mortgage fraud involving money laundering, theft and receiving stolen property from August 2008 through March.
CITIZEN JOURNALISM: Mortgage Fraud High in Area
Washington Times
According to the FBI, Virginia, Maryland and the District are among the top 10 jurisdictions experiencing mortgage fraud.
Former Vegas Resident Charged with Mortgage Fraud in Nevada
National Mortgage Professional Magazine
A former Las Vegas resident has been charged with federal conspiracy and fraud charges for his involvement in a Nevada mortgage fraud scheme involving straw buyers and falsified mortgage loan documents...
Missouri Man Sentenced for Mortgage Fraud
Belleville News Democrat
A suburban St. Louis mortgage company operator has been sentenced to more than 11 years in prison for a mortgage fraud scheme.
12-Year Prison Term in Mortgage Swindle
Washington Post
A Maryland woman who stole millions from Washington area homeowners trying to avoid foreclosure is a "vulture" whose case should serve as a warning to other con artists...
Previous Articles
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
F. Jeffrey Miller Update - October 20, 2009
A hearing was held in Topeka, Kansas in front of Judge Julie Robinson. Miller is currently being held pending his sentencing which is set for December 22nd, 2009 at 9:00 a.m.. Steve Vanatta and Hallie Irvin, Miller's codefendants, will be sentenced at that time also.
Several motions were heard this week. One was a motion for Miller to be released pending his sentencing. Miller's attorney, Jeff Morris, argued that the court had dismmissed with predjudice the matter involving Miller's purchase of a commercial lawnmower, violating the court ordered monitoring agreement. He also argued that Miller was not a flight risk and should be released. This motion was denied.
Another motion heard by Judge Robinson was that of an escrow account containing proceeds from the sale of Miller's forfeited assets. This account has a balance of $143,000. Attorney Morris argued that his firm was due $100,000 for work done in the Miller matter, to date. The government argued that his 'un-itemized fees' were 'exhorbitant'. The balance of the funds, Morris argued, should be released to the Miller family to help pay for mounting household expenses.
The government argued that the 'Asset Forfeiture Provision' applies down to 'the last penny' and that 'the rights of the victims to made whole are of paramount immportance' and that no routine household expenses like Visa bills, are allowed.
Attorney Morris argues that there is more than enough assets to satisfy the jury's judgement of $2.65 million dollars. The government argues that the estimated value of his assets are only $1.4 million.
The government also stated that Miller has been paid dividends from a company Miller has an ownership interest in; Boreflex. From July, 2008 to present, Miller has been paid $330,509.30 from Boreflex, unbeknownst to the court appointed monitor.
Present in the courtroom was Todd Earnshaw. Earnshaw was indicted along with Miller and others in what is commonly referred to as 'Miller I'. That trial is scheduled to begin on January 11, 2010 in Topeka, Kansas.
More Trial Coverage
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Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
