A federal grand jury has indicted two Virginia men for running a foreclosure prevention scheme.
The two men, Phillip Villasis and Ray D. Gata have been charged with seven counts including conspiracy to commit wire fraud, wire fraud, and money laundering.
According to the indictment Villasis and Gata were involved in the scheme from 2006 to 2011. The men offered to help desperate homeowners stay in their homes by selling their property to Gata and other straw buyers. Villasis told his victims they could stay in their homes, pay rent and repurchase their homes when they were once again financially stable.
Villasis and Gata the kept all the proceeds from the sale of the homes while the homeowners got nothing. Villasis often jacked up the monthly rent and evicted the homeowners.
Villasis is facing 150 years in prison and Gata is facing 90 years in prison.
There are many people out there who will try to take advantage of a person facing foreclosure. Scammers prey on the vulnerable and homeowners are desperate enough to trust anyone, but this case shows that homeowners should beware and contact a foreclosure lawyer instead of falling for a quick solution.
A homeowner can trust a foreclosure attorney to help them with their defaulted loan, either through fighting the bank’s decision or ask for mortgage modification. When you hire a foreclosure attorney can relax knowing someone is on your side.
