2 Men Face Charges on Duping Home Owners

August 30, 2011

Two men in San Bernardino, Calif., face charges of scamming at least 25 home owners on the verge of foreclosure into fake refinancing agreements, affecting more than $17 million in home loans, prosecutors say. 

Stephen Andrew Easterly, 47, and Emanuel Percival, 36, face 45 criminal counts and were arraigned on Monday.

Prosecutors say the men told home owners’ facing foreclosure that they could refinance their loans and lower their monthly payments. The victims allegedly paid the men between $3,500 and $7,000 to participate in their program, according to the San Bernardino County District Attorney's Office.

However, the home owners say instead of getting their loans restructured, they ended up with two outstanding home loans, and their homes ultimately went into foreclosure. 

Prosecutors say that the men allegedly signed documents as "authorized representatives" of several banks, and that one of the men also is accused of creating fictitious checks and mailing them to banks. 

Source: “Two Men Accused of Scamming Struggling Home Owners,” San Bernardino Sun (Aug. 30, 2011)

Read More:
5 Real Estate Scams You Need to Know About

Scamming the Mortgage Scammer