Archive for: ‘October 2014’

Judge Slams “Real Housewives of New Jersey” Couple for Not Disclosing all Assets in Bankruptcy

October 2, 2014 Posted by kingcade

Teresa and Giuseppe “Joe” Giudice arrived for sentencing this week at a federal courthouse in Newark facing conspiracy and bankruptcy fraud charges. U.S. District Judge Esther Salas reprimanded the couple for not disclosing all of their assets, including recreational vehicles they own.

The couple pleaded guilty in March and admitted hiding assets from bankruptcy creditors and submitting phony loan applications to receive $5 million in mortgages and construction loans.  Because of the fraud, the couple’s bankruptcy of several years ago was cancelled by the court last month and the Giudices once again owe more than $13 million to creditors.

Joe Giudice was sentenced to 41 months in prison, 2 years of supervised probation and was ordered to pay $414,588 in restitution from District Court Judge Esther Salas.  Lawyers for Teresa remain hopeful that she will be spared a prison sentence and instead be put on probation, noting the couple’s need to care for their four young daughters.

The couple pleaded guilty to conspiracy to commit mail and wire fraud and three types of bankruptcy fraud. Joe Giudice, 43, also plead guilty to failing to file a tax return for 2004, though he acknowledged he did not file taxes on income of approximately $1 million from 2004 to 2008.

Regardless of your occupation or status in life, if you attempt to cheat on your taxes or attempt to hide assets from your creditors during bankruptcy, you face real consequences, criminal prosecution and even jail time.

If you are in financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all of your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at

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Mortgage Relief Scams BUSTED!

October 1, 2014 Posted by kingcade

State and federal law enforcement agencies have brought 41 enforcement actions against scammers who prey on homeowners struggling to make their mortgage payments. “Operation Mis-modification,” has targeted a number of mortgage relief scams and charged the perpetrators behind the schemes with deceptive marketing, making false promises and pocketing illegal fees.

So how do these scammers target their victims? Some scammers sift through public foreclosure notices looking for potential targets. There’s no shortage of these. According to one market analyst, almost 700,000 homes were in some stage of foreclosure in April. Others advertise on the Internet, television and even the side of the road with signs stating, “Stop Foreclosure NOW” or “Get a Loan Modification.”

Tactics used to scam struggling borrowers include:

• Pretending to be associated with a government agency or the homeowner’s mortgage lender.
• Guaranteeing loan modifications regardless of the circumstances.
• Claiming to be a non-profit whose purpose is to educate the public about keeping their homes.
• Convincing homeowners to surrender the title to their home with a promise that they can buy it back later.

The FTC has discovered two more sophisticated schemes involving “forensic loan audits” and “mass joinder lawsuits.” In a forensic loan audit, the scammer will examine your loan documents to determine whether the lender made any errors that can be used to stall a foreclosure. In a mass joinder lawsuit, scammers who often pose as attorneys convince homeowners that they should join a lawsuit with others in similar circumstances against their lender. In both the audit and lawsuit scheme, homeowners are required to pay upfront fees and get little or nothing in return.

Below are some tips from the FTC and BBB to avoid being the victim of a mortgage relief scam:

• NEVER pay an upfront fee to get help with a mortgage / loan modification. No matter what someone tells you, it is against the law for companies that provide mortgage relief services to charge you before they give you a written offer from your lender and you have accepted that offer.

• Do not send your mortgage payment to anyone but your lender. Companies that ask you to send your mortgage payments to them while they negotiate on your behalf almost always take the money and disappear. If your lender does not receive your mortgage payments, you could lose your home.

• Do not fall for official sounding names. Most of these organizations try to make themselves sound legitimate by choosing names like the “Federal Debt Commission” or “Federal Assistance Program.” That does not mean they are affiliated with the government.

• A forensic loan audit will not prevent foreclosure. There is no evidence that forensic loan audits will help you get a loan modification or any other foreclosure relief, even if these are conducted by a licensed auditor, mortgage professional or lawyer.

• There are no guarantees. Do not do business with a company that guarantees to get you a loan modification. The law requires that companies tell you that your lender may not agree to change your loan.

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at

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