Keeping Kids in their Home Foundation is a scam. “Someone should never deed their house over to anyone without the bank‘s consent. These guys are predators. It’s just sad and disgusting.”
The answer is “yes”
Keeping Kids in Their Home, a Sarasota nonprofit, advertised as a government-sponsored foreclosure rescue is using its clients’ homes for a sweeping real estate scheme — delaying defaults through recurrent bankruptcy filings while renting the houses out, a Herald-Tribune investigation has found.
Keeping Kids in Their Home Foundation Corp. and related entities have enticed scores of severely delinquent borrowers from Tampa to Miami to hand over their deeds for just $100, while using dubious techniques to evade mortgage lenders and skirt taxes on those transactions. Aleksandr Filipskiy and his foundation stalled foreclosures for years by routinely transferring properties to new shell companies and nonprofits, filing for bankruptcy protection under each entity to block the foreclosure proceedings.
NOTE FROM DIANE: Transferring properties like this is called bankruptcy fraud.
“There’s a lot of misrepresentation here,” said Andrew Rose, a special agent supervisor with the Florida Department of Law Enforcement. “Someone should never deed their house over to anyone without the bank’s consent. These guys are predators. It’s just sad and disgusting.”
“I have seen this type of scheme happen over and over again. Anytime a homeowner is desperate they will grasp at any option just to keep their home. I understand that commitment. The house is the place that hugged them, protected them from outsiders, where they raised their children and hung holiday decorations. What they do not understand is that these types of schemes are rarely designed to help the homeowner. The scheme is designed to take something away from the homeowner and to put money in the schemer’s pockets.
Always check with your local government agencies to determine your rights. The Attorney General’s office is a great resource for information about any new or old scheme.
Just be careful and remember what your grandfather used to say “nothing is free” and “if something sounds too good to be true, it probably is“.
Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
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