Here in beautiful California it is very unfortunate to see all the predators out there targeting homeowners who cannot afford their mortgage. This has been going on for years now and we report about it all the time here on Loansafe. We would like everyone to get educated and be very wary of these tricksters as you could be their next victim..
This past week, US Attorney Benjamin B. Wagner announced the arrest of five individuals in connection with a major foreclosure prevention scheme that preyed on thousands of California homeowners. Everyone involved in the scheme has been arraigned by law enforcement, except for Guidry who now has a warrant out for his arrest.
Jewel L. Hinkles aka Cydney Sanchez, 61, Bernadette Guidry, 43, Jesse Wheeler, 34, Cynthia Corn, 58, and Brent Medearis, 45, were indicted in federal court and are facing 16 counts of bankruptcy fraud, except Guidry, who faces 8 counts of mail fraud along with Hinkles.
According to the indictment, Hinkles was the founder and leader of the Beverly Hills based foreclosure prevention scam. Horizon Property Holdings LC operated from 2008 through 2010 and promised thousands of homeowners they would avoid foreclosure, and also have their principle balances reduced through the companies “Save My Home” or “Homesaver” program. It states that Guidry acted as the office manager for the company and helped strongly promote their so-called principle reduction program. The company also had several affiliate companies located in Northern California, including JW Financial Solutions and Property Relief.
“The defendants in this case stand accused of profiting off of the desperation of people who were trying to hold on to their most valuable asset—their homes. This office is deeply committed to tracking down and prosecuting those who prey on vulnerable homeowners,” said U.S. Attorney for the Eastern District of California Benjamin B. Wagner.
The report shows that the company promised distressed homeowners they could stop foreclosure by having investors purchase the mortgage at a lower amount, or would reduce the amount owed through a principle reduction or loan modification. Hinkles along with associates charged homeowners a hefty up-front or monthly fee for their service which is illegal in California.
However, the company was able to stop some foreclosures by filing fraudulent deeds and transferring interest in the home to a company called Pacifica Group 49/II. They would also many times file a bankruptcy petition as well to enforce an automatic stay on the mortgages, which forces the lender to stop collecting on the debt until they get court approval.
The indictment shows that the company obtained at least five million dollars from more than a thousand struggling homeowners. If found guilty these individuals may face up to twenty years in federal prison for each count of mail fraud, and up to five years for each count of bankruptcy fraud, along with a $250,000 fee for each charge.
“Homeowners should be wary of those who solicit fees based on promises that they can prevent foreclosure or modify your loan,” said Wagner.
