For all consumers facing foreclsoure ,if you have been reading the website Ripoff Report: Made possible by consumer advocate Ed Magedson,than you have read what has been done to consumers due to this lease buy back Scam.
What is tragic and sad is this is making legitimate investors look bad,had Anthony Demarco not been so greedy,this could have worked,instead there are consumers in foreclosure,broke and about to lose their homes.
Everyone has felt this corrupt scam,the previous home owners,the investors and even employees of DeMarco and last but not least The Garden State LAND & Title company,this is where a lot of the "closings/deals" took place.
I am sure there are questions on every ones mind,why did we sign,we should have known,this scam was acted out so well,with broken promises of reserves,credit repair programs,refinances at lower rates within 1 year.
My favorite was" Don't worry about anything,It's like you still own the property" and another lie " remember you have all that equity in your home and there are reserves set aside for you.
I do not believe any of us got to use his/her equity or set aside reserves for hardships,I do not know if everyone received their cash out from the proceeds of the sale,if any the cash was very minimal as to what was stated on closing documents.
I would once again like to take advantage of this site: I am reaching out to anyone who can help us ,I realize the economy is in shambles,Haiti had a horriffic Earthquake,and the unemployment rate is high;but these types of scams ,this one in particular has hurt so many.
I think in this situation "DeMarco & partners, title companys,banks" should do as they promised.Give us back our homes,and refinance us ,they have our equity,So any individual who sold their home and was promised a refinance in 1 year should get exactly that,with a cash out after all ,this was the proposal with reserves set aside.
This may sound" Far Fetched" to some,but if you sell your home to someone and pay rent and get little or no profit from the transaction ,than you should be able to get back your home and the cash that your home was sold for, we could than have a chance to start over.
For the individuals to lose their homes in this scam would be horrible,so please anyone reading this Hud,Fha please this company has hurt so many ,each with a different reason for going into foreclosure,we need help ,we are in desparate situations.
Thanks again Ed,for giving me the opportunity to Expose these corrupt Individuals.