As many Orange County, CA residents know, the mortgage meltdown was a crisis of epic proportions. Not only were individuals qualifying for loans they could not afford for homes whose prices were greatly inflated but many dishonest mortgage brokers were taking advantage of banks and OC residents, creating a nightmare that is still being resolved.
Fortunately, the state of California has gone after many of the more allegedly criminal mortgage brokers, ensuring that these men and women will not be able to maintain their brokers licenses. Recently, two Orange County men were arrested on charges of theft and conspiracy in what state prosecutors are saying was a $6 million mortgage modification scam that victimized thousands of financially troubled home owners in Southern California and across the country.
According to state prosecutors, the two men (Christopher Fox and Curtis Melone) operated Green Credit Solutions in Irvine, where they charged homeowners facing foreclosure $3,500 per person for attorney services that they never provided. Four other companies associated with the two men were shut down by the State Bar of California two years ago.
Long story short, some of the men and women responsible for the economic and real estate troubles Californians are facing are being held responsible for their actions.
For more information on mortgages, real estate, and life in the OC, follow us on Twitter @CherylSellsOC.
