Help is gladly welcomed......Last year my mother (61) was scammed by someone who claimed to be a broker/lender. He persuaded her in puchasing 3 condos at the same time with the promise of money back at closing. He handled everyhting. She did not fill out a loan application and she was at closing but the papers she signed were vitually blank. They (the title company) kept calling her up there to change on document after the other stating that if she did not sign the lender would not pay. She had a slew of paper work presented to her for signing and was promised that the documents would be mailed to her-she never received any paper work except for HUDS that they kept on changing constantly so we don't even know if she has the correct HUDS. The guy at the title company asked her if she ever bought a house before. She said yes the one she is in now and said well than you dont need my help just sign it and you are done. Well she never recieved the money, her credit score went from 725 (mid score) to now 560. The lenders are harassing her to pay - DAILY . She is retired on disbility and has nothing left to pay on these properties. She tried to get them on the MLS but she cannot find a realtor to do it because there is not money in the condos. He had an appraiser to over appraise the conds, I think they call it inflating the value of the properties. The properties are acutally worth 145,000 and he sold them to her for 195,000. I am so pissed off as her daughter because she was not aware of the scam that was put upon her. She tried to go to a Real Estate attorney but by the time she finished telling her story he made it seem like she was at fault like she knew what she was doing when she DID NOT!!!! In fact he had sugested that she seek the council of a criminal attorney - WHAT!!!!!

She had been on one job for 32 years and that was all she knew. She had tried to get them rented out but the cost is too high. She has taxes coming in on them now and she cannot afford to pay them to get an attorney nor anything else. She is making her personal financial obligations but anything outside of that is not an option. I have tried to assist her but we are not financially set ourselves. Now the properties soon will be entering into foreclosure and there is nothing she can do. By the way the creep sold her social secutiry number she had been fighting idenity theft since then as well so not only is it real estate scam but also idenity theft. Are there any scam busters out there? CAN SOMEBODY OUT THERE GIVE SOME KIND OF ADVICE TO HELP HER? We just do not know what else to do..... No one will put them on the MLS, she can not find people to rent them nor buy them, she has talked with the lenders to say the least to no avail, she has seeked the advice of an attorney who was so money hungry that she could not get quality information out of him, she had gone to the police station to file but they told her it was nothing they could do. What can she do-----HELP PLEASE. What is her recourse. Any advice would be helpful.

The properties are in Texas and they are brand new 3 story condos. We do not understand the laws of Texas. Can she just give the back the to lenders? What can she do? She is so tired now.

I think the best advice in this situation is to get professional help. I know thats easy to type.

Is there a citizens advice bureau or any other community resource? They could probably get you in touch with a lawyer.

Your mother is a victim of loan fraud. She definately, definately needs an attorney. You can probably surrender the deeds in lieu of foreclosure but I think you will find that your mother's credit is ruined.

I wouldn't do anything without the approval of a competent attorney, but I would think that you could call the state attorney general and see if there is any kind of ongoing investigation of this person that perhaps you can aid in the investigation to help prevent your mother from being implicated in any way.

__________________
Dan Connolly
Atlanta Georgia
Atlanta Georgia Real Estate
Atlanta Foreclosures
Search for Atlanta Real Estate

Thanks for the advice. But that is just the problem. Because there is so much of that going on here in Houston, they (FBI) are interested in cases of 5 million dollars or more. She is a low man on the totum pole. And as for any attorney. We have gone to Real Estate Attorney who send us to Criminal attorneys who send us back to real estate attorneys. We do not know where to go with all of this. It is at the point where we are like.....We give up!!!!! I don't know.......

You can resolve this crisis by getting advice from a professional.For more information on loans visit http://www.mybadcredithelp.com/.This will guide you in a right way so that you can not fall into such a situations in future.

thanx