White-Collar Crime

Lawyer Indicted in Alleged Mortgage-Rescue Fraud

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A Nevada lawyer has been indicted for allegedly operating a mortgage-rescue scam known as “Save Your House.”

Instead of doing so, however, attorney Ramon Dy-Ragos and two partners are accused of charging up-front fees of $1,000 to $4,000 and telling borrowers to stop paying and cease contact with the bank. At the same time, the state attorney general contends, they falsely claimed they would renegotiate the mortgage with the bank or force the bank through a lawsuit to modify the loan, according to Las Vegas Sun and 13 Action News, a local ABC affiliate.

Dy-Ragos is charged with four felony counts of theft by material misrepresentation and one misdemeanor count of conspiracy.

Neither article includes any comment from Dy-Ragos or his attorney.

Related coverage:

ABAJournal.com: “Mortgage-Rescue Meltdown: Calif. Probes 400 Lawyers, Fields 30 Complaints Daily

ABAJournal.com: “Calif. AG Sues 2 Companies, 3 Attorneys & Others for $60M, Says Homeowners Duped Into Suing Banks”

ABAJournal.com: “Business Booming for Lawyers Who Help Homeowners Facing Foreclosure”

ABAJournal.com: “2 Lawyers Among 17 Charged in $3M Mortgage Rescue Fraud”

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