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Jerry Barker, Real Estate Pro in Atlantic City, NJ

I was at a property yesterday and I suspect that the elderly person who used to own it was swindled out of the property.

Asked by Jerry Barker, Atlantic City, NJ Thu Jan 24, 2013

I also suspect mortgage fraud on the buyers behalf somehow, does anyone know who I could refer this person to for assistance?

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Answers

14
If you supspect any type of elder abuse, conatct your local District Attorney's office. This is a serious crime and it happens more oftenthan people think. Not just in Real Estate, but in other areas involving money as well.

Kawain Payne, Realtor
1 vote Thank Flag Link Sat Jan 26, 2013
In that case you might also want to contact Veterans Affairs.

State of New Jersey Department of Military & Veterans' Affairs Atlantic City
Armory
1008 Absecon Boulevard
Atlantic City, NJ 08401-1999
609-441-3060/3061

Information and services for veterans and families provided in the Atlantic City office.
1 vote Thank Flag Link Fri Jan 25, 2013
Hi Jerry,

I had something similar to this happen to me down here in FL. A neighbor wound up calling an office similar to the one that Laura mentions below. It was enough to scare the perpetrators-to-be into giving up trying defraud the senior citizen.

GOOD LUCK.

Scott Miller
Realty Associates
1 vote Thank Flag Link Thu Jan 24, 2013
Mortgage Fraud . . . This is what I mean: http://www.pbs.org/wgbh/pages/frontline/business-economy-fin…
1 vote Thank Flag Link Thu Jan 24, 2013
A good place to start might be the Office on Aging Atlantic County office. They might be able to point you in the right direction. Info is below.

Atlantic
(1-888-426-9243 or 609-645-5965)
Atlantic County Division of Intergenerational Services
Shoreview Building, Office 222
101 South Shore Road
Northfield, NJ 08225
1 vote Thank Flag Link Thu Jan 24, 2013
Jerry,

I would suggest contacting the Department of Banking and Insurance and going from there. If I think of any other agencies, I'll come back and comment again.
1 vote Thank Flag Link Thu Jan 24, 2013
Well, the definition of accused is to be suspected of something, in this case, fraud. If there were nothing to be suspicious about it wouldn't be an issue right?
0 votes Thank Flag Link Sun Jan 27, 2013
Sad my opinion ,hard to accuse any body of anything unless one is 100 percent sure that is how I believe .Suspecting is not enough evidence. Don't you think ,HENA MARTIN BROKER
0 votes Thank Flag Link Sat Jan 26, 2013
Thank you everyone for our input, hopefully this will work out for the best, the person that lost the home is also ex-military and makes this situation even worse by my account.
0 votes Thank Flag Link Fri Jan 25, 2013
I ran across a vaguely similar scenario several years back. For the life of me I couldn't understand how a bank could loan a $ubstantial amount relative to the value of the property to a very elderly person on what was not much better than a chicken shack (a neighborhood sorely needing further gentrification) albeit on a nice piece of land by south Fl standards. But I reminded myself that such were the lending practices during the days leading up to the bubble burst.

The owner passed without any heirs and the court appointed personal rep enlisted me to try and short sell it. Because of the many code violations it could only be sold to a cash buyer and if you think lenders are slow to respond to short sale offers now you wouldn't believe what went on 4-5 years ago! The county eventually condemed the property.

It's shameful what lenders were doing back then and I hope they never resume such reprehensible tactics. It hurts all of us.
0 votes Thank Flag Link Thu Jan 24, 2013
Thank you Annette, by "somehow" I mean the bank lent nearly $120,000 on a condemed property which is worth at best $5000. That has fraud written all over it does it not?
0 votes Thank Flag Link Thu Jan 24, 2013
"Somehow" seems a incredibly vague basis for accusations.
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Search the State of NJ website for Elderly Ombudsmen or something of that nature.
Also the owner should contact their proper department in the bank. They will escalate this to the state or national level depending on the mechanisms involved.
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Hopefully, you will invest the time and energy to substitute 'somehow' with something more concrete before you attempt to toss someone under the bus. Has any attempt been made to obtain clarification from the accused? Too often, highly complex transactions such as short sales, are simply too complex for the buyer or seller to explain to a third party. Proceed with care.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, Fl
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Thu Jan 24, 2013
The police would be no help and a lawyer costs money, Im looking for a link to one of the government agency's or non profit groups that have popped up in order to help people in this type of situation. I remember reading about them and seeing them on the news but it was a long time ago.
0 votes Thank Flag Link Thu Jan 24, 2013
I am guessing the Police or a Lawyer.
0 votes Thank Flag Link Thu Jan 24, 2013
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