David Goldstein Reports

LOS ANGELES (CBS) ― "I need help so bad"

It's a call heard around the country.

"Oh I'm scared"

Homeowners facing foreclosure.
Desperate for help.

"You mean that will stop the foreclosure?"

But are they getting good advice?

"What is your success rate? 100%"

And is it legal.

"How were you going to stop foreclosure for $1500.00 a month?"


We set up hidden cameras in this house in Whittier.


The real homeowner is facing foreclosure--but we hired this actress to take her place.

Nat sot: doorbell just a minute

Then invited unsuspecting experts in to hear their pitch.

"Hi I'm Carlos."

Carlos Alvarez came to the house after we responded to this ad on Craigslist. He wasn't asking for money...

"I'm a realtor. I'm licensed to sell real estate. By law I can't take any money from you."

He wanted to sell the house. But when we told him we didn't want to sell---he recommended someone else.

This man. Raul Altamirano.

With a hidden camera we recorded a meeting in his office in Downey. Altamirano said he could stop foreclosure for up to two years--for a price.

"It's $1500.00 a month. $1500.00 a month!"

He claimed we would pay him the money --pay the bank nothing.

"She can stay there for two years just paying $1500.00 a month?
 I guarantee it"

He also said he was licensed.

"You have a brokers license and everything? Yeah"


What Altamirano didn't say is that he surrendered his real estate license in 2004. After he was convicted of making false statements on federal home loan applications.

"I'm David Goldstein CBS 2 News."

And he didn't didn't want to talk about it.

"Are you licensed by the real estate board. You surrendered your license in 04 because you were convicted in federal court."

Altamirano was also convicted of grand theft in 2005 in an attempt to defraud someone out of their home.  Deputy district attorney Peggy Beckstrand prosecuted his case.

"Can he do what you saw him do? Not in my opinion."

That's because Altamirano is on probation and not allowed to work in the foreclosure business.

But here he is--offering to help for $1500.00 a month. A scheme she has seen others do again and again.

"They do not intend to save the property. They delay for as long as they can get the money from the homeowner."

Altamirano had no answers.

"How were you going to stop foreclosure for $1500.00 a month? How can you do that?"

And he wasn't the only one.

"Three hundred and fifty dollars."

This man wanted to charge us $350.00 for foreclosure help--claiming it was a fee for driving out to the house.

"You know asking for money for foreclosure consulting upfront is illegal? Oh I didn't know that."

And this man offered to negotiate with the bank. Only to try and get our homeowner to sign a  listing agreement to sell the house.

"You implied to her that you were not going to sell the house. That you were going to try and negotiate with the bank. Yet you're asking her to sign an agreement that you can list the house for sale. Don't you see anything wrong with that?

No no"

It's not illegal.  But common according to experts who say people will do anything to try and save their American dream.

"They don't know what to do and they'll believe anyone who says what they want to hear."

"How can you do that?"


If you have any complaints about fraud, contact the LA County Department of Consumer Affairs Real Estate Fraud hotline at 1-800-973-3370.

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