David Saks: ALLEGED LOAN MODIFICATION SCAMMER ARRESTED

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

ALLEGED LOAN MODIFICATION SCAMMER ARRESTED

Alleged Loan Modification Scammer Arrested

Stephen Vitalich, 46, has been arrested on charges of theft. The criminal complaint allleges Vitalich, doing business as Consumer Loan Excellence of America, LLC or NBMS of America, LLC, promised clients he would obtain mortgage loan modifications that would substantially reduce clients' monthly mortgage payments. The complaint further alleges that after collecting large advance fees, Vitalich performed no substantive work on his clients' behalf and eventually disappeared with their money.

 

Vitalich is charged with one count of theft of obtaining money in the amount of $2,500 or more from a person 60 years of age or older, two counts of theft of obtaining money in the amount of $2,500 or more, and one count of theft of obtaining money in the amount of $250 or more.

In early 2010, the Nevada Attorney General's office launched an investigation of Consumer Loan Excellence of America in response to numerous consumer complaints filed with the office.

An initial hearing in Department 8 of the Justice Court of Las Vegas Township was scheduled for April 16, 2012. Vitalich was booked in the Clark County Detention Center.

Remember that homeowners should never pay up front fees to reduce their loans. Help is free and generally speaking, no one should pay for assistance. Nevadans who face mortgage difficulties should instead contact a non-profit housing counselor, either through www.HUD.gov or a local non-profit housing clinic, to learn about the mortgage process and their rights as homeowners.

The criminal complaint is a formal allegation that the defendant has committed a crime. It is not evidence of guilt. The defendant is presumed innocent until proven guilty in a court of law.

The case was investigated and is being prosecuted by the Attorney General's Bureau of Criminal Justice Fraud Unit.

Nevada Attorney General Catherine Cortez Masto announced the arrest.

Anyone who has information regarding this case or to report loan modification scam can contact the Attorney General's Bureau of Consumer Protection Hotline at 702-486-3132. Once connected press "0" to receive instructions on how to submit a complaint.

"Nevadans continue to struggle with the economic downturn which has wreaked havoc on our state's housing market," said Masto. "Some homeowners will do anything they can to stay in their home, including unknowingly turning to predators. I hope this prosecution serves as a warning to other would be predators to think twice taking advantage of Nevada homeowners."

source: Mortgage Fraud Blog




David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 0 commentsDavid Saks • April 26 2012 11:32AM

Comments

This blog does not allow anonymous comments