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Wednesday, July 17, 2024 | Back issues
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Class Action Accuses Liberty One Lending Of Mortgage Frauds

SACRAMENTO (CN) - Liberty One Lending and JTS Communities falsely promise homebuyers financing, take their nonrefundable deposits, falsely claim that their loan brokers are licensed, and induce customers to commit loan fraud, a class-action complaint claims in Superior Court.

Plaintiffs claim Liberty and JTS lure customers with deceptive ads promising they can "Own two homes for the payment of one!" and promise, "We do the loans, find the homes, and our property management manages them for you." They claim Liberty showed them a fraudulent loan "guarantee" from its own subsidiary, then the subsidiary denied issuing the letter. And they say Liberty posted a false review of itself on the Internet, claiming to be its own customer. Named plaintiffs say their nonrefundable deposits were more than $15,000 apiece. They demand punitive damages and also sue Syndicate Real Estate, Michael Pritchert, Grace Fulgentes, Jerry Castano, Linda Farkas, Cheri Regan, The Advantage Group, and New Home Marketing. They are represented by Mark Buckman. See complaint.

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