Feb 20, 2008 7:44 am US/Mountain
DA: Grandmother Hit By Mortgage Scam
DENVER (CBS4) ―
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Investigators said the trio promised to refinance Dossie Hall's mortgage, but instead, they stole her home.
CBS
Three men have been charged in a sophisticated mortgage scam that could cost a grandmother her home, the Denver District Attorney's Office said. Prosecutors believe there could be more victims.
Scott Richardson, Thomas Sarantinos and Anthony Sarantinos face felony charges in connection with the scam.
Investigators said the trio promised to refinance Dossie Hall's mortgage, but instead, they stole her home.
The three men allegedly slipped a quit claim deed into the paperwork the 66-year-old signed. The men reportedly added Anthony Sarantinos name to the title.
Prosecutors said the men refinanced the home to take out nearly $30,000 and even gave Hall fake mortgage payment coupons to make it seem legitimate.
Hall is suing in hopes of keeping her home.
"One night I cried half the night thinking what would I do with all my stuff," she said.
"The reality is I see it everyday even with people, not just elderly or disabled people, but the rich get taken as often as the poor in this mortgage scheme," said Joe Morales, a deputy district attorney.
The district attorney's office has some tips to avoid falling victim to mortgage scams. Use established local banks for home loans. Pick the closing company and title company. Get a copy of the loan as it is signed.
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