Archives For Loan Modification

Loan Modification Fraudster Sentenced

Rachel Dollar —  November 19, 2015 — 5 Comments

Brian Kandefer, 37, San Diego, California, was sentenced to 121 months imprisonment and ordered to pay $1.4 million dollars in restitution after his guilty plea to wire fraud and money laundering.

According to documents in the case, K2 Capital Management Inc. did business as US Mortgage Bailout and USMortgageBailout.com with physical offices located in La Jolla, California.  Brian Kandefer was a 50% owner of K2 Capital Management Inc. dba US Mortgage Bailout and dba USMortgageBailout.com.  Continue Reading…

In Mortgage Fraud , ,
 permalink

Mortgage Mod Case Results in 10+ Year Sentences

Rachel Dollar —  October 29, 2015 — 4 Comments

Kristen Michelle Ayala, aka Amber Lynch, aka Olivia Benet, aka Grace Williams, 30, formerly of Las Vegas, Nevada, and Joshua Manuel Sanchez, aka Nelson Cruz, aka Chris Ward, aka Daniel Mora, 34, formerly of Las Vegas, Nevada, were sentenced for conspiracy to commit wire fraud for their role in a $3.8 million dollar mortgage modification scam.

Ayala was sentenced to 135 months in prison, while Sanchez was sentenced to 151 months in prison. Both defendants were also sentenced to three years of supervised release and ordered to pay full restitution to the victims of their crime. Continue Reading…

In Mortgage Fraud , ,
 permalink

New York Loan Modification Scam Indicted

Rachel Dollar —  October 7, 2015 — Leave a comment

David Gotterup, also known as “David Gott,”, 35, Oceanside, New York, and Jason Green, 35, Oceanside, New York, were charged in an eleven-count indictmenet with conspiracy to commit mail fraud, wire fraud, and bank fraud in connection with a scheme to defraud homeowners who were attempting to modify their mortgage loans, and related mail fraud counts.  The indictment also charged Gotterup with conspiracy to commit wire and bank fraud in connection with a scheme to improperly obtain mortgage loans, and related bank fraud counts, disaster loan fraud, and aggravated identity theft. Continue Reading…

In Mortgage Fraud , , , ,
 permalink

20 Year Sentence in Loan Modification Scam

Rachel Dollar —  September 29, 2015 — Leave a comment

Four people who worked at a Rancho Cucamonga business that offered bogus loan modification programs to thousands of financially distressed homeowners were sentenced to federal prison, with one of the leaders of the scheme being ordered to spend 20 years in custody.  Victims of the scheme lost more than $7 million when they paid for services that were never provided.  The telemarketing operation that was known under a series of names, including 21st Century Legal Services, Inc.,  bilked more than 4,000 homeowners across the nation, many of whom lost their homes to foreclosure.

The defendants sentenced were: Continue Reading…

In Mortgage Fraud ,
 permalink

Two Plead Guilty in Mortgage Modification Scheme

Rachel Dollar —  September 16, 2015 — 3 Comments

Ped Abghari, a/k/a “Ted Allen,” 38, Irvine, California, and Justin Romano, 41, of Blue Point, New York, pled guilty for their roles in orchestrating a massive mortgage modification scheme that collectively defrauded over 8,000 homeowners out of over $18.5 million.  Abghari and Romano each pled guilty to wire fraud and conspiracy to commit wire fraud, and Abghari also pled guilty to misprision of a felony.  Romano pled on September 14, 2015, and Abghari pled on September 15, 2015, before U.S. District Judge. John F. Keenan.   Continue Reading…

In Mortgage Fraud , , ,
 permalink

Michigan Attorney Pleads Guilty in Loan Modification Scheme

Rachel Dollar —  September 16, 2015 — 2 Comments

Steven Barry Ruza, 52, Orchard Lake, Michigan and his company, Home Legal Group, Inc., pled guilty to one count of Conducting a Criminal Enterprise.  Ruza and his company were accused of stealing hundreds of thousands of dollars from Michigan residents that were facing mortgage foreclosures. As part of the plea, restitution will be paid to the victims, with the possibility of additional restitution at the judge’s determination.

Ruza and his company promised victims that they could obtain mortgage modifications and save their homes from foreclosure but then did nothing, or very little, to obtain mortgage modifications for the victims.  In many cases, Ruza even filed false documents with the bank.  The victims never received a modification through Ruza and Home Legal Group and most lost their homes to foreclosure. Continue Reading…

In Mortgage Fraud , ,
 permalink

Petaluma man drops bid to avoid paying debt in mortgage fraud case

 Posted by Rachel Dollar  onAugust 20, 2015 In Mortgage Fraud ,
 permalink 1 Comment

False Advertising Plea in Loan Modification Scam

Rachel Dollar —  August 14, 2015 — 1 Comment

Matthew Goldreich, 46, East Lyme, Connecticut, pleaded guilty in New Haven federal court to a false advertising offense stemming from his production and dissemination of false advertisements for mortgage modification services.

According to court documents and statements made in court, Goldreich used his New London-based media agency, National Media Connection, LLC, to produce and air television, radio, and Internet advertisements for the National Mortgage Help Center, LLC (“NMHC”), a shell company incorporated by Goldreich. The advertisements falsely claimed that NMHC could help struggling homeowners obtain home mortgage loan modifications. For example, one advertisement that aired in 2010 stated: “Attention homeowners. We know it’s tough out there. And while America’s homeowners are facing more challenges than ever before, the National Mortgage Help Center is ready to help.” The same advertisement also stated: “We may be able to lower your rate to as low as 1% and cut your mortgage payment in half. Our trained specialists know all the new regulations to get you quick relief. We help thousands of homeowners every day.” Continue Reading…

In Mortgage Fraud ,
 permalink

Ohio AG Sues Loan Modification Companies

Rachel Dollar —  August 14, 2015 — Leave a comment

The Ohio Attorney General brought a lawsuit against the operators of a California-based loan modification scheme accused of taking thousands of dollars from Ohioans while falsely promising to help them avoid foreclosure.

Continue Reading...
In Mortgage Fraud , ,
 permalink

Massachusetts Loan Modification Attorney liable to Homeowners

Rachel Dollar —  August 11, 2015 — Leave a comment

David Zak, attorney, Revere, Massachusetts, and his two businesses Zak Law Offices, P.C., and Loan Modification Group, Inc, have been ordered to pay more than $625,000 for targeting homeowners with deceptive advertisements and demanding thousands in illegal advance fees for mortgage modification and foreclosure relief services they failed to deliver.

“At a time when homeowners were struggling to afford their mortgages, this attorney abused his clients’ trust and deliberately exploited their financial circumstances by demanding exorbitant fees based on false promises, leaving these homeowners even more vulnerable,” Massachusetts Attorney General Maura Healey said. “This judgment puts an end to these deceptive and unfair practices and confirms that those who seek to capitalize on the foreclosure crisis will be held accountable.”  Continue Reading…

In Mortgage Fraud , , ,
 permalink