Pleasantville, N.J -Adam Lacerda has been indicted with six other individuals including his wife were indicted of having allegedly convincing owners of time shares to let them buy out the owners rights to the time shares at discount prices. The individuals where also able to convince time share owners to send them money to get the time shares sold. Mr. Lacerda has pleaded that he is innocent of the crimes he is charged with.
New Jersey Takes Home $838 Million from Foreclosure Settlement from Mortgage Fraud
New Jersey and it’s residents to recieve an estimated $838 million from a $26 billion in a national settlement among us states and five major lenders.
The participating lenders will be protected from any serious legal fallout after a period of wide spread fraud and foreclosure practices.
Lawyer Confesses Guilty to $400,000 in Mortgage Fraud
Michael R. Senick of Old Tappan, NJ confesses to being part of a mortgage fraud scheme where lenders issued up to $400,000 in mortgage funding between January 2004 and January 2006. This is another “straw” buyer scheme that has come to light in mortgage lending.