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by Gina_Silva

Last Post 11 days, 8 hours Ago


BUSTED!!!
Mar 20, 2008 | 9:35 AM
Category: News
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A ring of accused mortgage scammers is now behind bars!  The group is accused of defrauding it's customers out of millions. My colleague Tim Harrell and I spent so much time investigating this group and we spent time with the victims. People who lost thousands of dollars and in many cases lost their homes because of the actions of "Lifetime Financial". Clients say they were offered low rates; they would sign on the dotted line then the employees would hike up those rates without letting them know. In other cases, clients who had decided not to go with the company, say their signatures were forged and with those fake signatures they suddenly found themselves with the most outrageous loans. (We saw some of those signatures...they certainly appeared to be different to the real owners signatures)

The group led by Eric Pony from Tarzana Ca., allegedly took out all of the equity and left the homeowners with huge loans/monthly payments they simply couldn't afford. Too many people lost their homes. One victim was a 75-year old man who'd had his house most of his life. Now homeless. What is he going to do???


State Attorney General, Jerry Brown says, "As the mortgage crisis worsens, a growing number of fly-by-night companies are employing utterly brazen tactics to push homeowners into illegal and unconscionable loans."

He's absolutely right. I've received so many calls from people saying they've been scammed in similar situations by different mortgage companies.

While San Bernardino and Los Angeles DA investigators say they're making it a priority to stop these mortgage lending predators, it's nearly impossible to catch all of them. So, please be careful out there. TRUST NO ONE! Do your homework and check out these companies thoroughly before you go into business with them. If you've been scammed here's a number to call:

1800-952-5225.


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Member Comments Total Comments: 14
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samo714 read my blog view my photos
Mar 20, 2008 | 2:15 PM

yup that's good advice gina."don't trust anyone" and that's the bottom line cuz stone cold said so. but for real, that's sad that these people lost their homes and even sadder for the ones that didnt sign the dotted line and still got screwed.
Bob_Tarlau read my blog view my photos
Mar 21, 2008 | 8:23 AM

Hi Gina,

Congrats to Tim and you for your continuing strong coverage of Eric Pony's scam. Both of you have done much to heighten public awareness of this and other financial trickery while reporting on the victims who have had their lives changed.

Bob
RobinZodiac read my blog view my photos
Mar 21, 2008 | 11:10 AM

My advice is going directly through the bank to refinance. This middle man stuff can keep you up at night.
Gina_Silva read my blog view my photos
Mar 21, 2008 | 12:54 PM

Thanks Bob,
As you know, we all do so many stories with people who've been victimized one way or another. We wish the authorities would go after the crooks all the time. Unfortunately, that's usually not the case. So when it does happen, it's a pretty awesome feeling. Tim spent an enormous amount of time pressuring (I should say encouraging) the San Bernardino District Attorney's office to do something about Eric Pony and Lifetime Financial. It paid off big time! :-)

Robin, that is a great tip. Go to the bank directly and even then, make sure the person you are dealing with is in the up and up. If you have the luxury of having an attorney...put him/her to good use. Have them read everything before you sign. It could save you thousands possibly even your home.
sebar read my blog view my photos
Mar 21, 2008 | 6:03 PM

I have said from the very start, the best way to stop these criminals is to reinstate and then actually follow through and make them pay with their very lives. I always liked Florida's "Old Sparky" because that electric chair fell into disrepair, so it's seated occupants performed a dazzling light show (if you know what I mean - wink: wink) before they paid their ultimate fate. Time to get an old California Sparky, and get this, they can even use solar power to make it work and save taxpayer monies too!

American Author, Poet, Songwriter and Filmwriter
"Mark Paul" Sebar
The Power To Write The Best!
craftyguy read my blog
Mar 21, 2008 | 9:57 PM

you know you really need to look into your own backyard ..fox advertises crooked real estate auction companies who offer so called easy fixers and repos for cheap in reality they are selling worthless garbage scamming people who think they are going to get rich and the only one getting rich is countrywide..where is your investigations there?i guess advertising dollars are worth more than truth to the people who watch FOX..
Freezer read my blog
Mar 22, 2008 | 9:22 AM

Blame the U.S. government for this mess.Somebody drop the ball on this one.Thank you Bush.
Gina_Silva read my blog view my photos
Mar 22, 2008 | 9:36 AM

Hi Craftguy,
Do you know that for a fact? Maybe some friends who were scammed and are willing to share their story? Or perhaps the name of a local crooked real estate auction company? I would love to do such an investigation but unless we've got people willing to talk about their experience, it's kinda hard to do.
I'll look into these real estate auction companies you're talking about. Hopefully there are complaints with the BBB or Real Estate Board. If there's something there,(whether or not you believe it) it doesn't matter if they do advertise on Fox.
Thanks for the tip.
dkiick
Mar 24, 2008 | 7:18 PM

Thank you for your continued following of this story. Where can we watch the video of them in jail outfits? I can't find it anywhere on MyFoxLA... also, please continue to cover as they have hearings or more charges are brought against them (although I think this is unlikely given they were negotiating before they turned themselves in... probably to what charges they'll face).
Gina_Silva read my blog view my photos
Mar 25, 2008 | 11:56 PM

Hi dkiick,
On our website, click Eric Pony on our SEARCH box at the top of the home page and it will take you to the video of the stories done on "Lifetime Financial" and Eric Pony.
Thanks
IEGirl
Mar 29, 2008 | 2:40 PM

Hello Mrs. Silva,

I would like to bring your attention to another matter like this where it's a group of individuals, including a bankruptcy attorney, who rob their clients as well. One main example of this is a victim who hired this attorney to help him with his home that was going to go into foreclosure for being $3,000 behind, he went from being $3,000 behind to having a loan taken out on the property of $100,000 with a high interest rate, and is now homeless. There are many victims and we need help on getting them all together in order to have a case and stop these people from doing these types of things. We have plenty of proof for you, please write me back and let me know how I can go about contacting you directly and I can give you full details. I know you are busy, but trust me if you investigate this further you will see right away that there is a crime being committed here, and it's sad because people go to attorneys and confide in them, but with this one and her posse they just end up homeless. Please help put them to a stop.
Gina_Silva read my blog view my photos
Apr 5, 2008 | 2:33 PM

Hi IEGirl,
Please email your phone number at gsilva@fox11.com.
I'll call you back.
Thanks
Gina
IEGirl
Apr 13, 2008 | 7:51 PM

done. Thank You Mrs. Silva.
saromchea read my blog view my photos
May 13, 2008 | 3:56 PM

GOOD JOB, MRS. SILVA AND WANT TO THANK POLICE DEPT AND FBI!
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Gina_Silva

On any given night or morning, you might catch me doing everything from consumer/investigative reporting, anchoring, entertainment, weather, even sports (not my favorite). On the weekends, I can also be found washing the news trucks. :-) O.K. that's not true, but that's probably my next assignment! If you have any story ideas or would like me to look into a situation you feel may be unjust, please let me know by commenting on my blog! Don't forget to tune into the Sunday Morning News at 7am with Robb Weller and yours truly.

Member Since: 7/4/2006


 

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