Butte County In The Net Of Foreclosure Scammers

Posted on April 14, 2008
Filed Under Foreclosure Homes |

Mike Ramsey, the district attorney of Butte County and Candace Grubbs, the recording clerk, warned locals who are facing repos about the scammers prowling around offering false help. The predators are contacting the house owners who have been served default notices. This is the first step in the foreclosure process. The victims are in such a traumatized state that they are willing to clutch at any straw in the hope of being saved from drowning. The typical approach of these con artists is that they seek a fractional interest in the property to be given to a sham entity. The original house owner is now asked to pay this sham entity who has gained a small right to the property, a monthly fee. The latter now files a bankruptcy suit to put a stop to the foreclosure process. The bankruptcy gets to be detected as false and thus the foreclosure continues as before. The owner loses the property as well as cash paid out to the scammers who staged this rescue drama.

Grubbs came upon this scheme while going through her county records. Some cases raised her suspicions. She referred the matter to Ramsey. Currently the Economic Crime Unit of the county is looking into the matter. It has the same foul smell as those detected in Alameda County.

The district attorney of Alameda County charged two persons who had gained fractional interest from house owners in Alameda, Fresno as well as Napa. The United States Attorney has charged 19 persons on the same grounds. The Trustee Office (US) and Attorney General of California are also investigating into several so-called bankruptcy suits that are not sounding correct. Ramsey sent out a strong message to at-risk foreclosure victims to be wary of the predators and to contact immediately the Economic Crime Unit attached to the office of the district attorney of Butte county. Ramsey and Grubbs are working in tandem to locate the culprits.

One man’s meat is another man’s poison. While the people are being poisoned by foreclosures there are some vultures and jackals who are predating on the hapless. Being human vultures they are far more hypocritical than their animal counterparts. As such the victims do not realize until too late that actually these criminals live by scavenging off the misfortunes of others. Success has whetted their appetites so much that some have even set up web sites deluding the foreclosure victims even more.