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Felon operates ineffective foreclosure rescue trusts

For an investigation of foreclosure rescue schemes, the San Diego Union-Tribune analyzed all quitclaim deeds filed in San Diego County between January 2007 and October 2008. The investigation led reporter Eleanor Yang Su to Apocalypse and Amerisian trusts, which are ran by convicted felon Edmundo Rubi. According to the article, β€œIn some operations, homeowners quitclaimed – or transferred ownership of their houses – after being falsely told that doing so would help save the homes.” Of the more than one dozen families the paper contacted for the story, not one had received a modified mortgage, and two had their homes foreclosed.

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