17 comments

• Comment Link Wednesday, January 27 2010 08:05 posted by Ron Boerner

  My ex-brother-in-law took me around to see numerous homes he lived in or had direct access to. These homes were on average worth $650,000. The one he lived in was worth over a $1,000,000. I was desperate for a career change and he gave me this story of how he was over leveraged on properties he owned, but knew of this mountain property he would help me obtain. We were both going to turn this property into a profitable Italian carryout restaurant since he agreed to finance any renovations needed. He also agreed to make all the payments on the property and buy it back from me in 6 months. Since I had known him for over 25 years I did not expect anything less from him then his usual honest behavior in dealing with me and could at the very least sell the property for what it is worth. He did not even make the first payment or make improvements to the property as agreed upon, and eventually the property went into foreclosure. He later admitted to me all the properties he bought were not his, but he had used “straw” buyers like myself to buy them. All of these too went into foreclosure. He also reported to me the mortgage agent and the appraiser used in my real-estate transaction he uses all of the time when “he needs to get a deal done”. He further stated his appraiser would appraise the property for what it will be worth when improvements are completed and not what the property is worth now. I also investigated what the property was worth and found it to be at best $185,000 but it had been appraised for over $450,000. The appraisal also stated the square footage was twice the actual footage, which obviously meant the appraiser never once took any measures of the actual square footage of the property. I then reported this to the first mortgage holder who then ordered a second appraisal on the property. The first mortgage holder had found that the original appraisal on the property had been fraudulent. I then reported the entire transaction to the F.B.I., C.B.I., and the Colorado Dept. of Regulatory Agencies (DORA). The DORA investigation turned up some very important information. First, after my closing on the house a secret second closing took place without my knowledge or consent. At this closing a real-estate agent (I never knew she was involved) was given a check, the previous owners, and my ex-brother-in-law was given one for $126,000. This helped to account for the need to have the appraisal over $250,000.00 of the property’s actual worth. Needless to say the property was eventually foreclosed on but the first mortgage carrier cleared up any of my credit issues due to the fraud involved. Yet, the bank with the second mortgage took over the property and would not clear up my credit. Furthermore, not only did I not pay for the appraiser (my ex-brother-in-law did), but he had his license revoked by the State of Colorado after committing fraud on over 33 properties (court case brought this information out)! My personal estimation suggests this number could be anywhere from one hundred to two hundred properties. What makes matters worse is that he was on probation by the State of Colorado during my real-estate transaction. Is there any way I can take any action against the second mortgage carrier for attempting to hold me to an illegal transaction or damaging an otherwise perfect credit history? Also, both the F.B.I. and C.B.I. seem unconcerned with my ex-brother-in-law’s illegal activities. All of the properties he used with the help of false appraisals in order to pull money out of them are now foreclosed on. How will he receive justice?
• Comment Link Monday, August 24 2009 07:34 posted by Jose Arredondo

  The Title Insurance Co from Colo, Is one of the BRANCH Offices that Ripped us off, they Forged My Wifes Name & notorized Documents without her being present when we got there all Papers were Stamped & signed, Even had some other Persons Notory Stamp Name on Our Documents, They gave money to the Mortgage Lender, Stating he was a Realtor so they gave him a Commission, as well, He was a B of A lender, thee Insurance title forged all Documents we never signed nothing in front of nobody, but we get all Documents signed and Nortorized, never got a penny when we sold our Home,
• Comment Link Monday, August 24 2009 07:24 posted by Jose Arredondo

  How do I recover all Our losses I still have all the Forged Documents & Forged Nortory Documents..
• Comment Link Monday, August 24 2009 07:21 posted by Jose Arredondo

  My wife & I were Ripped off By One of These Guys, They Signed my Wifes Name to all the Documents,The Title Company Officer even Sigend My wifes name & used some elses Notary Stamp we were never present when they were Notorized,They even Charged us More On there Commission, Gave to some Other so called Broker that we never Met, The Lending officer was involved he have all the Documents Still The Realtor Moved his office to his home, & is very Carefull with whom he Ripps off now, The Courts & the Feds No about these Thieves, & Do Nothing.
• Comment Link Friday, August 21 2009 16:57 posted by Alison Barrett

  I was checking for info on Douglas Farr and found this great site. Not sure when this was posted because I can't find a date, but I am writing 8/21/09. My husband was the victim of identity theft several years ago, and thought he had it all cleared up. Then the state sends a bill for $12,000 because Colorado Public Records, Inc. submitted a false 1099 showing they paid him $174,000!!! Upon research of the company, find D. Farr, Dustin Pulciani and others involved in these title fraud scams. At least the state will now believe this is a fraudulent 1099. What scumbags these people are.
• Comment Link Wednesday, November 05 2008 04:47 posted by Dubai real estate portal

  Many banks and other lenders have set up title insurance agencies and title insurance joint ventures in the last few years, because the distribution of title insurance is a very attractive source for additional fee income and an ancillary activity to making loans. Unfortunately some participants in these ventures have not been fully cognizant and compliant with the federal and state regulatory requirements for undertaking these affiliated business arrangements
• Comment Link Wednesday, May 28 2008 02:58 posted by Linzie

  Having worked in banking for many years I am well aware of Identity theft. It is indeed a huge problem worldwide. (As if the insurance business have not got enough problems at present!)
  
  Have you heard of Kwikbinder? I am really impressed by what I have seen and they have great ideas to help you grow in slowing housing markets and the system is written to protect against Identity Theft.
  
  When the going gets tough the tough gets going.
  
  
• Comment Link Monday, April 14 2008 09:48 posted by Anthem Blue Cross

  Just from what I have heard living from Santa Rosa mortgage brokers. There is fraught is done all the time. Until recently mortgage brokers were like dogs at each other throat to get some ones business and make a quick buck. i would image that people who actually did get scammed would have little chance of getting their care resolved, because there are so many.
• Comment Link Monday, March 31 2008 20:12 posted by Patricia M. Curtis

  We are expecting to hear from you about this! Patricia M. Curtis
• Comment Link Monday, March 31 2008 20:09 posted by Patricia M. Curtis

  In Feb, 2007 my daughter and son-in-law, Margaret E. Miller and William B. Miller signed a 3 year lease to live at 7092 S. Lewis CT, Littleton, Colorado. I moved up from Houston, TX to live with them. We made our lease payments every month on time, with most of the time at least 2 weeks before payment was due. In June we received a letter telling us that our house was in foreclosure. We immediately called our leasing company who was as surprised as we were. In talking to our neighbors we discovered that this house has been in foreclosure 5 times. It seems that the owners, the Purcells, have been pocketing the lease money and not paying the mortgage. The sad part of this is that Ann Purcell is in a RealEstate agent and owns several pieces of property in the same area. We received another letter,supposedly from their lawyer telling us that we need to either buy the house or leave. We continued to pay our lease payments, on the advice from the Leasing company. We then had the house appraised with the idea of buying the house, and submitted a quote, based on the appraisal value. It was turned down. We discovered that they owed more than $400,00. This is when we started looking for a house to buy. We found one that didn't need to have the windows replaced (as we would have done had we bought the 7092 S. Lewis Ct house, nor would we have had to replace the fence, the floors, the carpet and other things that would have had to be done. What really bothered us is that this woman was nominated Real Estate Agent for 2007. Of the 5 families that lived in that houses, not one of them reported this to the authorities. The neighbors on both sides of us knew what was happening and nobody did anything about it.
  I realize it won't help us, but I feel that there will be others that will be signing leases only to have the same thing happening to them. PLEASE, THESE PEOPLE NEED TO BE STOPPED!
  Sincerely,
  Patricia M. Curtis
  
  mother of Margaret E. Miller