MD Lawmaker Takes 1-Year R/E License Loss To Resolve Claims Arising From Running Sale Leaseback Racket; Victims Seek Recovery From State Guaranty Fund

In Anne Arundel County, Maryland, WBAL-TV Channel 11 reports:

• A Maryland state delegate on Monday struck a deal instead of fighting a state commission challenging his license to sell real estate. Under the settlement, the state will not revoke Delegate Tony McConkey's real estate license, but the license is suspended for a year.

• McConkey, R-Anne Arundel County, said he made mistakes, but a four-year battle is finally behind him. He called the settlement with the Maryland Real Estate Commission a victory.

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• McConkey admitted he had a practice of contacting homeowners on the verge of losing their homes, offered to save them from foreclosure and willfully violated the Protection of Homeowners in Foreclosure Act -- a law he voted for in 2005 and 2008.

• He also admitted to engaging in conduct that demonstrates incompetency and improper dealings. McConkey's license will be suspended for a year. To get it back, he'll have to reapply -- but there is no guarantee it will be reinstated.(1)

• "Mr. McConkey will no longer be able to victimize people. This could have drug out for two years in appeals, and the state's obligation was to Maryland citizens, not just my clients," said former homeowners' attorney Mike Morin.

For more, see Md. Delegate's Real Estate License Suspended (Tony McConkey Admits To Engaging In Bad Practices).

For earlier stories reporting on McConkey's foreclosure rescue 'handiwork', see:

• August 19, 2009: Lawmaker must pay $109K judgment: Judge increases damages, tacks on attorney fees for McConkey (judgment includes $75K in attorney fees for the homeowner's attorney).
• April 30, 2009: Jury Decides Against Delegate In Mortgage Case,
• November 18, 2008: Delegate Facing Lawsuit Files For Bankruptcy.

(1) Reportedly, three of the victims that lawmaker McConkey allegedly screwed over are each seeking $25,000 from the Maryland Real Estate Commission's Guaranty Fund, which covers qualified claims up to $25,000 for losses due to screw-ups by Maryland-licensed real estate agents, or unlicensed employees of Maryland real estate licensees.