For their victims, the phone call sounded like salvation. Seniors, living on a fixed income and having trouble with the bills, they were glad to hear someone offering them a reverse mortgage that would allow them to turn the equity in their house into cash. But the four mortgage professionals charged with perpetrating a $2.5 million reverse mortgage fraud scheme are anything but angels. Their aftermath has left those who signed up with them impoverished and close to foreclosure.
The Miami Herald reports that the way it allegedly worked is that the mortgage professionals would call up the seniors - they only called seniors - and pitch them a reverse mortgage insured as an FHA loan. After they agreed and filled out the paperwork, the four conspired to have the homes appraised at many multiples of their value. In one case, a $31,000 condo got a value of $275,000. They then got the inflated reverse mortgage approved and staged a fictitious short sale, diverting the difference between the reverse mortgage amount and the short sale into their personal accounts, without ever paying off the existing mortgage. Falsified documents were used to hide the scheme from the lender and from the government.
If convicted, the quartet faces a max sentence of 30 years each and fines up to $1 million.
"These are seniors who are on Medicare, limited incomes, desperate for help," Tony West, U.S. assistant attorney general for the Civil Division told the Miami Herald. "Money that should've gone to help seniors with modest incomes instead went to line the pockets of fraudsters."
One of the signs of a scam is that they contacted you. Always be wary when someone calls up with a great "opportunity."
Reverse mortgage scam targeted seniors [Miami Herald] (Thanks to Shawna!)
For their victims, the phone call sounded like salvation. Seniors, living on a fixed income and having trouble with the bills, they were glad to hear someone offering them a reverse mortgage that would allow them to turn the equity in their house into cash. But the four mortgage professionals charged with perpetrating a $2.5 million reverse mortgage fraud scheme are anything but angels. Their aftermath has left those who signed up with them impoverished and close to foreclosure.
The Miami Herald reports that the way it allegedly worked is that the mortgage professionals would call up the seniors - they only called seniors - and pitch them a reverse mortgage insured as an FHA loan. After they agreed and filled out the paperwork, the four conspired to have the homes appraised at many multiples of their value. In one case, a $31,000 condo got a value of $275,000. They then got the inflated reverse mortgage approved and staged a fictitious short sale, diverting the difference between the reverse mortgage amount and the short sale into their personal accounts, without ever paying off the existing mortgage. Falsified documents were used to hide the scheme from the lender and from the government.
If convicted, the quartet faces a max sentence of 30 years each and fines up to $1 million.
"These are seniors who are on Medicare, limited incomes, desperate for help," Tony West, U.S. assistant attorney general for the Civil Division told the Miami Herald. "Money that should've gone to help seniors with modest incomes instead went to line the pockets of fraudsters."
One of the signs of a scam is that they contacted you. Always be wary when someone calls up with a great "opportunity."
Reverse mortgage scam targeted seniors [Miami Herald] (Thanks to Shawna!)
surface encounters reviews url
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters reviews url surface encounters reviews url
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters review surl
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters complaints surface encounters complaints
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters complaints surface encounters complaints
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters macomb mi surface encounters macomb mi
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters macomb mi <surface encounters macomb mi
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters rock tops surface encounters rock tops
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters rock tops surface encounters rock tops
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters mi surface encounters mi
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters mi surface encounters mi
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters quality marbl... surface encounters quality marbl...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters quality marbl...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.comsurface encounters quality marbl... surface encounters.
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunch
The news never sleeps, which is why news sites like TechCrunch are addicted to realtime information. That addiction extends to the analytical tools news sites use to determine which articles are resonating with people ...
Newsbeat Measures The Pulse Of <b>News</b> Sites | TechCrunchCan <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>
Netflix is using price hikes to manage the transition of users away from the physical product and towards digital streaming. While there are some similarities between that and the newspaper business, publishers shouldn't ...
Can <b>news</b> publishers learn anything from Netflix? — Tech <b>News</b> and <b>...</b>NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
NBC News tells TMZ ... it did not offer Casey Anthony any money for an interview with her. An NBC rep tells us, "NBC News has not and will not be in a…
NBC <b>News</b> -- We Didn't Offer Casey Anthony A Red Cent | TMZ.com
No comments:
Post a Comment