Just one day after government authorities announced they would be bringing the hammer down on loan-modification scammers, three people have been arrested in California for allegedly defrauding homeowners looking to revise the terms of their mortgages.
Magdalena Salas, Angelina Mireles and Julissa Garcia, all of Stockton, California, were arrested Thursday and are being held at the San Joaquin County Jail, according to a release from the Office of the Special Inspector General for the Troubled Asset Relief Program, or SIGTARP.
Salas, Mireles and Garcia are accused of multiple counts of conspiracy, false advertising, and grand theft of personal property. The SIGTARP release claims that the three collected thousands of dollars in fees from California homeowners who were hoping to modify their mortgages, but that the homeowners never got the help they were looking for, and that some of them ended up losing their homes.
Unsavory mortgage practices have become widespread since the onset of the housing crash, which has left countless homeowners trying to stay one step ahead of foreclosure -- presenting a prime opportunity for scammers who claim they can lower homeowners' payments.
Read the rest of the article at the Huffington Post
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