In a story oft-repeated in the California Real Estate Fraud Report, a Pico Rivera-area firm is being investigated for loan modification fraud after targeting distressed homeowners for home modification loans and requiring upfront consulting fees.
Your Dreams Come True Inc., also known as Safe Haven and Proteccion Familiar, is being investigated for both rental fraud and home modification fraud. One of its employees, Frank Candelaria, 47, was arrested for theft when he allegedly took an advance fee. His boss, executive Director Alex Jurado, claims that Safe Haven is understaffed, which was why it was behind working on customers' loan modifications.
To show how much of a problem home loan modification is, in 2007, the California State Attorney General's Office took 27 complaints against real estate agents and brokers, loan modifications firms, foreclosure consultants and attorneys who had jumped into the easy-money loan modification business. So far in 2009, there are over 2,000 complaints.
To put a stop to loan modification fraud, the Attorney General's office has required all foreclosure consultants to register with its office and post a $100,000 bond since last July 1. According to a spokesman for the Attorney General's Office, few of the loan modification firms have posted the bond. And attorneys, who have either started doing loan modifications themselves or renting out their names to foreclosure consultants, are now the target of complaints - up to 250 of them currently. At least four of them have resigned from the Bar after facing disciplinary hearings: Mitchell Roth, Christian Dillon, Nabile Anz and Cameron Edwards.
Comments
How do people who have been scammed get together to fight back against these companies to get our money back. There has to be somebody out there willing to get some sort of class action suit going against these crooks?!?!
Thank you so much for your post. This is currently taking place in Hesperia, CA. The owners have changed the company name. They are still quick claiming homes, then filing bankruptcy, while charging tenants rent. Please if there is anyway to fight back against these crooks pass the word.
why are some people so quick to say things without validity? do idiot people like yourselves have any idea what your stupid remarks can bring upon anyone's life? before you make comments as" taken advantage of" give one example as to whom has been really taken advantage of?
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