Bay Area Couple Charged With Peddling Phony Loan Modification Services To Homeowners Looking To Dodge Foreclosure; Fraud, Theft Charges Pending

In Alameda County, California, KGO-TV Channel 7 reports:

• A Los Gatos man and a Fremont woman face state and local felony charges over a foreclosure scheme. Prosecutors say Michael Young and Angeline Lizarrago targeted Spanish-speaking and Southeast Asian homeowners.

• Investigators say they promised to prevent foreclosures be renegotiating loans. Customers were charged $1,500 to begin the process, and were promised a refund if things didn't work out.

• Young and Lizarrago face eleven counts of fraud and theft totaling more than $50,000. The Alameda County District Attorney's Office thinks there may be more victims in the Avemos Group foreclosure scam. Those who think they may have been victimized are asked to call: 1-877-288-2882.

Source: Man, woman arrested for foreclosure scam.