Homeowners in Florida and in other states around the nation sometimes find themselves in financial difficulty. One of the largest expenses for most families is a mortgage payment. However, it is critical that this payment be made in order to stay in a home and avoid home foreclosure. Recently, a man was sentenced to prison after he made false promises to homeowners in a loan modification scam.
The man had made YouTube videos that told families he could save their homes from foreclosure. From 2011 to 2016, he misled consumers by saying he was an attorney or an employee of the nation’s Department of Housing and Urban Development. Payments were sent directly to him. He allegedly received roughly $2.24 million from unsuspecting clients.
Court records show that the man used roughly $20,000 each month to pay rent on a luxury home. During the court proceedings, the man asked for forgiveness from his victims. However, the clients told the court about the financial losses they had incurred and emotional pain they had experienced.
The federal case against the man is completed. After pleading guilty to 12 counts of mail fraud, he was sentenced to eight years in prison. The man was ordered to pay restitution to the families, though the judge informed them it was unlikely they would see any of the payments. However, the man still faces 46 counts of grand theft and other felony charges in the state of California.
Florida residents in financial distress would understandably want to do anything they could to save their residence from home foreclosure. Nevertheless, it is imperative to seek help from a reputable source. A knowledgeable bankruptcy attorney can assist families in this situation. An experienced lawyer will evaluate each situation and recommend the best plan for helping clients save their homes.
Source: ocregister.com, “Coto De Caza man gets 8 years for $2 million home loan scam that targeted more than 500 people“, Sean Emery, Sept. 29, 2017