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Equity Stripping Foreclosure Scheme
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December 19, 2008
Instead of helping homeowners facing foreclosure, a 47-year-old woman helped strip the equity of those very homes her company was hired to protect.
Jennifer McCall, chief executive of Metropolitan Money Store Corp. is the fifth of eight defendants to plead guilty to the multi-million dollar mortgage fraud scheme. McCall confessed to coercing homeowners into deeding their property titles to a third party while the company used the properties to apply for loans and extract the equity, meanwhile they also charged these homeowners fees for credit repair services never rendered.
Read story at The Baltimore Sun
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