Philly Federal Judge Grants TRO Delaying Foreclosure Of Homes Involved In Recent Sale Leaseback Foreclosure Rescue Indictment

In Philadelphia, Pennsylvania, The Philadelphia Inquirer reports:

• A federal judge [Friday] morning granted a temporary restraining order in the U.S. Attorney's civil case against Anthony J. DeMarco, who was also charged criminally Tuesday in a mortgage foreclosure rescue scheme involving $31 million in fraudulent loans on 120 properties.(1)

• The restraining order shields an unspecified number of properties from sheriffs' sales until at least February. A hearing on a longer-term preliminary injunction was scheduled by U.S. District Judge Michael M. Baylson for Feb. 2.

For the story, see Sheriff sales blocked in alleged foreclosure fraud.

(1) See Philly Feds Continue Attack On Equity Stripping Sale Leaseback Peddlers; Indict 4, File Civil Suit In Alleged Racket Involving 120 Properties.