Sale Leaseback Arrangement Designed To Pilfer Home Equity Out From Under Elderly Homeowner Facing Foreclosure Goes Haywire For Scam Artist

The underlying facts in a 2019 California state appeals court case may serve as a cautionary tale for foreclosure rescue operators who effectively swindle the wrong financially distressed, elderly homeowner out of the title and equity in her home under the guise of a sale leaseback deal.
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In this case, the victimized homeowner ended up suing the scam artist and a slew of other defendants(1) who had some part in the ripoff transaction. After extensive litigation, the homeowner ended up relinquishing any ownership claim she had in her home in exchange for financial settlements from various of the defendants for amounts totaling $1,050,000, and left the defendants to fight amongst themselves in their efforts to salvage something out of a deal that blew up in their face and went haywire for them.
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For the court case, see EGB Group, Inc. v. Family Mortgage Options LLC (2019) No. B272467 (2d Dist., Div. 1) (unpublished).
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For case access to information from the trial court proceedings, go here, then enter Case # YC069066.
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(1) The victimized homeowner sued the slew of defendants variously for (1) violation of Home Equity Sales Contract Act (Civ. Code, § 1695, et seq.), (2) wrongful foreclosure, (3) violation of Mortgage Foreclosure Consultants Act (id., § 2945, et seq.), (4) declaratory relief, (5) cancellation of deeds, (6) quiet title, (7) intentional fraud, (8) negligent misrepresentation, (9) breach of contract, (10) rescission of contract, (11) financial abuse of an elder, (12) recovery of usurious interest, (13) equitable redemption of plaintiff's interest in property, (14) violation of Business and Professions Code section 17200, (15) intentional interference with contract, and (16) slander of title.