An elaborate scheme promising help for struggling homeowners targeted dozens of Sacramento-area Russian families, a News10 investigation has revealed. A search of property records in Sacramento, Placer, El Dorado and Yolo Counties shows roughly 50 Russian families and individuals deeded their homes in 2008 and 2009 to an organization called “Shon-Te-East-A Walks with Spirit” in an attempt to reduce or eliminate their mortgage payments. Many of the homes are now in various stages of foreclosure or have already been lost.
Mortgage help scheme targets Russians in Sacramento
Most Popular Articles
Latest Articles
-
Former Ginnie Mae president reacts to lawmaker’s reverse mortgage securities letter
-
Financial planner: Reverse mortgages can help retirees with high property taxes
-
MBA issues support for real estate finance bills debated by Congress
-
Supreme Court denies HomeServices’ petition in commission suit
-
Home prices kept climbing at a brisk pace in March: First American