
Jeffrey Barry who was arrested in Houston, Texas, has been charged with five counts of obtaining mortgage proceeds under false pretenses in a mortgage fraud scheme. Five fraudulent mortgages worth nearly a half-million dollars were involved. He shall be extradited to Michigan.
Here is how Barry executed the scheme: When a homeowner is already at risk of losing his or her home, Barry would approach him or her, offering his services as a “mortgage foreclosure rescue” agent. He pretends to attempt saving their home from foreclosure by offering to buy it from the homeowner and selling it back to the homeowner under a land contract. But then, the down payment is…









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