Con artists take advantage of homeowners in trouble
As tens of thousands of Los Angeles County residents lost their homes to foreclosures in recent years, a Van Nuys businessman and his associate knocked on doors and mailed out fliers offering “Foreclosure Relief Services” to desperate homeowners.
The two men, ages 59 and 71, allegedly told homeowners they could stop foreclosure proceedings if they paid them a $500 monthly fee.
But prosecutors say instead they swindled victims out of the equity in their homes in North Hollywood, Glendale and other communities around Los Angeles.
Accused of 71 felony counts of foreclosure-consulting fraud and other charges, they are now awaiting trial for what prosecutors describe as a “foreclosure rescue scheme.”