Load Modification Fraud
updated: Jan 25, 2013, 12:14 PM

Source: Santa Barbara District Attorney

Investigation of Ismael Cancinos, Mercedes Alvarez, Hermandad Hispanic Group, Crown Point Education and America Asset Management

District Attorney Joyce E. Dudley announced today that the Santa Barbara County District Attorney's Office is investigating an alleged loan modification/foreclosure consultant fraud case in the Santa Maria area. The case involves an organization that operates primarily out of Los Angeles County but has victimized many homeowners in Northern Santa Barbara County. The organization appears to be run by subjects identified by community members as Ismael Cancinos and Mercedes Alvarez. They may operate under the business names of Hermandad Hispanic Group, Crown Point Education and America Asset Management. The suspects may have offered loan modification services as Well as other "programs" promising to stop foreclosures or save homes in foreclosure.

lf you have information regarding this group or the individuals, or if you feel you have been a victim of this group, please Contact District Attorney Investigator Jennifer Glimp at 805-73 7-7871. lf you are primarily Spanish speaking, please contact District Attorney Investigative Assistant Maria Chavez at 805-346-7519.

The District Attorney's Office wants to remind community members that it is illegal for loan modification and foreclosure consultants to charge any advanced or up-front fees for their services. All contract terms must be met before any fees can be collected and all contracts must be in writing and must comply with statutory regulations.

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