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Equity stripping or equity skimming is a variation on lease-buyback and is one of the most common types of foreclosure rescue schemes. [4] In it, the perpetrator assumes ownership of the house while allowing the former owner to continue living there, provided that s/he pay rent to the perpetrator, who is the new owner.
Often, these transactions take advantage of uninformed, low-income homeowners; because of the complexity of the transaction, victims are often unaware that they are giving away their property and equity. [citation needed] Several states have taken steps to confront the more unscrupulous practices of equity stripping. Although "foreclosure re ...
Tom Cronkright, co-founder and executive chairman of real estate fraud protection company CertifID, said that while wire fraud is an overall pervasive issue across the country, it is particularly ...
Get-rich-quick schemes are extremely varied; these include fake franchises, real estate "sure things", get-rich-quick books, wealth-building seminars, self-help gurus, sure-fire inventions, useless products, chain letters, fortune tellers, quack doctors, miracle pharmaceuticals, foreign exchange fraud, Nigerian money scams, fraudulent treasure hunts, and charms and talismans.
A breakthrough in alleged real estate fraud case against the ‘King of Coconut Grove’ ... As an example of Cox’s juggling act, the townhouse at 2960 Coconut Ave. has had four contracts on it ...
The ultimate victim of a real estate Ponzi scheme mastermind, who allegedly defrauded millions of dollars from his clients, could turn out to be his own wife of 38 years. The lesson for homeowners ...
Rescission is available in equity's exclusive jurisdiction in a wide range of situations. For example, where there has been an innocent but material misrepresentation, a breach of fiduciary duty, unconscionable conduct, or equitable fraud.
That finding, part of shocking ruling that found Trump and his adult sons liable for fraud, was just one of multiple examples in which Judge Arthur Engoron found the Trump real estate empire to ...