Fraudulent loan modification is where the real estate scam artists are working these days. The ability to prey on those who are weak and scared attracts the worst scum. But score one for the good guys. A San Jose, California couple who were ripping people off to the tune of $3,000 to $4,000 for loan modifications they never attempted were arrested in Canada.

Amir Rashidifar and Mary Delvecchio ran Legal Support Services since September, but in that short amount of time ripped off 129 families to the tune of nearly $500,000. These are people that were desperate to keep their homes and probably are in a terrible place now.

Kudos to the San Jose Police and the Royal Canadian Mounted Police for the apprehension. I hope this puts fear into the hearts of anyone ripping people off with fake loan modification programs.

In February, Rashidifar and Delvecchio fled the South Bay after learning of the police investigation, according to Thomas. Police determined that Rashidifar and Delvecchio went to Canada on May 26 and opened a new, fraudulent real estate loan modification business using false identities.
San Jose police coordinated its investigation with the Royal Canadian Mounted Police (RCMP), the RCMP Immigration Task Force and Canadian Border Services, who located and arrested Rashidifar and Delvecchio on July 10 at their residence in Toronto.  San Jose Mercury News.

Related posts:

1. Federal Reserve Initiates 9.9 Billion Dollar Loan Modification Plan
2. Canada Has No Idea How Bad Their Real Estate Situation Really Is
3. Canada’s Real Estate Market Recovering
4. In Canada, MLS Under Extreme Pressure
5. Probe of Lend America’s FHA Loan Program