California Man Sentenced to 24 Years in Fed Prison for Foreclosure Rescue Scam

Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Benjamin B. Wagner, United States Attorney for the Eastern District of California, today announced that Alan David Tikal, 46, formerly of Brentwood, Calif., was sentenced on Thursday by United States District Judge Troy L. Nunley to 24 years in federal prison for … Read more

Foreclosure Rescue Scheme Company Owners Sentenced to Years in Jail

Barrington Coombs, 58, of Weston, Fla., was sentenced to serve a year and a day in prison for his role in a foreclosure rescue scheme that victimized desperate homeowners on the brink of losing their homes, the Justice Department announced. Coombs was sentenced by U.S. District Judge Kenneth A. Marra in the Southern District of … Read more

Ward Indicted for Fraud and Identify Theft in Nationwide Foreclosure Rescue Scam

Federal authorities have charged a former Los Angeles man with aggravated identity theft and having operated a foreclosure-rescue scam in Southern California and elsewhere that promised to postpone foreclosure sales for more than 800 distressed homeowners. Glen Alan Ward, 47, of Canada, was indicted today in the Central District of California on two counts of … Read more

News Coverage of Foreclosure and Loan Modification Scams

A television news story out of New York warned consumers about mortgage consultant, loan modification, and foreclosure scams. I enjoyed the names the reporter, Melissa Holmes, gave the different variations of the scam. Phantom Help The Bailout The Bait & Switch Melissa did a good job of warning consumers about some of the foreclosure scams … Read more

Foreclosure Rescue Scam Company “Home Savers Consulting Corp” Owner Pleads Guilty

A Brooklyn man admitted in federal court Tuesday that he and a partner made about $1 million by scamming Bergenfield, Paterson and Elizabeth homeowners in a foreclosure scheme. Garth Celestine, 44, pleaded guilty to conspiracy to commit wire fraud for his role as the co-owner of Home Savers Consulting Corp., a now-defunct company based in … Read more

FTC to Ban Upfront Fees for Foreclosure Rescue or Mortgage Modification

The Federal Trade Commission moved to protect distressed homeowners from the promoters of bogus foreclosure rescue and mortgage modification services by proposing a new rule that would forbid companies to charge up-front for these services. Instead, companies could only collect payment after providing services. “Homeowners facing foreclosure or struggling to make mortgage payments shouldn’t have … Read more

Maryland AG Stops Foreclosure Rescue Scam to Strip Equity

Attorney General Douglas F. Gansler announced that his Consumer Protection Division has won a judgment in the Circuit Court for Baltimore City of nearly $1 million against Rodney Spellen, Mid Atlantic Consulting, Inc., Jemel Lyles, Absoloot Ventures Inc., Brian Boyd, 1st Choice Property Management Firm, Inc., Sahar Ali, Alan Muniu, Phillip George, Certified Title & … Read more