Real Estate

Escrow waivers get review

In January, a story by Channel 3’s investigative reporter Tom Meyer indicated that Cleveland Heights Housing Commissioner Rick Wagner, at the urging of the FBI, may have exacerbated the impact of an alleged mortgage scam on Cleveland Heights. Specifically, Meyer’s report said Wagner waived escrow requirements to repair housing violations, allowing homes to change hands before repairs were made.

In the context of the alleged mortgage fraud—the subject of a 266-page indictment announced last August—escrow waivers allowed the homes to sell faster, ultimately ending up in the hands of unqualified buyers, and later to fall into foreclosure or abandonment.

After the story broke, City Manager Robert Downey asked Cleveland Heights Law Director John Gibbon to review the matter and report on the city’s role in the FBI investigation and its impact on the city.

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Volume 3, Issue 3, Posted 12:05 PM, 02.23.2010

Mortgage fraud's impact in CH may be worse due to city's effort to help FBI

Thirty-six-year-old Uri Gofman, of Beachwood, was indicted last summer by a Cuyahoga County Grand Jury "in a conspiracy that prosecutors say involved 453 homes in Cuyahoga County and $44 million in fraudulent loans," according to a report at the time by The Plain Dealer.

Now, a more recent report by WKYC-TV3, indicates that for roughly three years before the indictment, Gofman was getting help from Cleveland Heights Housing Manager Rick Wagner – exacerbating the impact of Gofman's alleged mortgage fraud to the city and its residents.

According to the WKYC-TV3 report, Wagner isn't accused of doing anything illegal; he claims he was helping the FBI in its investigation of Gofman. But in so doing, he allowed Gofman to purchase more homes here than otherwise would have been possible. The FBI didn't comment.

Here, according to the report by WKYC investigative reporter Tom Meyer is what happened:

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Volume 3, Issue 1, Posted 8:10 AM, 01.13.2010

Condition Outsells Price Sub: In a tough market, buyers will pay a premium for a house in top condition

In the spring of 2005 we put our Cleveland Heights house on the market. No part of the consultation with our realtor prepared us for the market slowdown that was just beginning in Cleveland, or gave us any hint that we might have trouble selling. By the end of summer we had less than a handful of showings. Eventually, three years of few showings, two more realtors, and a bad experience with renters (who stopped paying rent and trashed the place before we could evict them) convinced us that we needed a new approach.
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Volume 2, Issue 3, Posted 8:52 PM, 01.20.2009

Foreclosure and hope in the Heights

Whether local, regional or national, it seems there are but five topics that dominate the news these days: the 2008 presidential election, the war in Iraq, the high price of gasoline, global warming, and the foreclosure crisis.

This may be one of the few times in history when national issues feel extremely local. With the exception of an actual home invasion, a homeowner is unlikely to feel more vulnerable then when a house nearby is under foreclosure and, subsequently, boarded up.

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Volume 1, Issue 4, Posted 6:49 PM, 06.18.2008
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UPCOMING EVENTS

March 16, 2010:
6:00 AM - 6:45 AM - Navaratri ("Nine Nights")

6:00 PM - 8:00 PM - HRRC Class: Understanding Mortgages & Refinancing

6:30 PM - 8:30 PM - LEADING LADIES AT HEIGHTS HIGH MIND, BODY & SOUL WELLNESS FAIR

March 17, 2010:
6:00 AM - 11:59 PM - WJCU 88.7FM St. Patrick's Day Irish Music Marathon

March 18, 2010:
7:30 PM - 9:30 PM - SPEECH AND DEBATE by Stephen Karam at Dobama Theatre

March 19, 2010:
7:00 PM - Heights Youth Theatre presents "Once On This Island"

7:15 PM - 9:00 PM - Voltimand and Cornelius Are Dead, Too: OddyFest #19

8:00 PM - 10:00 PM - SPEECH & DEBATE by Stephen Karam

8:00 PM - Tetelestai

March 20, 2010:
12:00 AM - 2:15 PM - Community Home Remodeling Fair

1:00 PM - 3:00 PM - HRRC Rehab Open House

2:00 PM - Heights Youth Theatre presents "Once On This Island"

8:00 PM - 10:00 PM - SPEECH & DEBATE by Stephen Karam

8:00 PM - Tetelestai

March 21, 2010:
2:30 PM - 4:30 PM - SPEECH & DEBATE by Stephen Karam

3:00 PM - Tetelestai

7:00 PM - 8:30 PM - WESTERN RESERVE CHORALE WINTER CONCERT

March 22, 2010:
7:00 PM - 9:00 PM - HRRC Workshop: PVC Drain Lines

March 23, 2010:
6:00 PM - 8:00 PM - HRRC Class: Avoiding Mortgage Delinquency

March 24, 2010:
8:00 AM - 10:00 AM - Trade Show Networking: Make a Difference, Leave an Impression

6:00 PM - 8:30 PM - Heights Parent Center Family-School Connection Women's Roundtable

7:00 PM - 9:00 PM - Jeff Milchen, of the American Independent Business Alliance, to speak

7:00 PM - 9:00 PM - Driving Mr. Klezmer

March 25, 2010:
8:30 AM - Business Workshop: Strength In Numbers

6:15 PM - 7:00 PM - Free Music Together Demonstration Class!

7:30 PM - 9:30 PM - SPEECH & DEBATE by Stephen Karam

March 26, 2010:
7:00 PM - 8:30 PM - Yoga & Sexuality 2-part workshop with Atmadarshan (Laura Santoro)

8:00 PM - 10:00 PM - SPEECH & DEBATE by Stephen Karam

8:00 PM - 10:00 PM - SPEECH & DEBATE by Stephen Karam

March 27, 2010:
1:30 PM - 4:30 PM - Yoga & Sexuality 2nd day of a 2-part Workshop with Atmadarshan (Laura Santoro)

5:00 PM - 6:00 PM - Kirtan at Atma Center

8:00 PM - 10:00 PM - SPEECH & DEBATE by Stephen Karam

March 28, 2010:
2:30 PM - 4:30 PM - SPEECH & DEBATE by Stephen Karam

5:30 PM - 7:00 PM - Yoga Movie Night

7:30 PM - Heights Chamber Orchestra Concert

7:30 PM - Heights Chamber Orchestra,

March 29, 2010:
7:00 PM - 9:00 PM - HRRC Workshop: Faucets & Toilets

March 30, 2010:
6:00 PM - 8:00 PM - HRRC Class: Home Maintenance for Home Buyers

April 1, 2010:
7:30 PM - 9:30 PM - SPEECH & DEBATE by Stephen Karam

April 2, 2010:
7:00 PM - 9:00 PM - On Christianity: OddyFest #20

8:00 PM - 10:00 PM - SPEECH & DEBATE by Stephen Karam

April 3, 2010:
8:00 PM - 10:00 PM - SPEECH & DEBATE by Stephen Karam

April 4, 2010:
2:30 PM - 4:30 PM - SPEECH & DEBATE by Stephen Karam