Former Stripper Joy J. Jackson Ran Foreclosure Rescue Scam
They promise to help you get out of foreclosure. But they end up stealing your home instead. Mortgage experts say Maryland is now the worst in the nation when it comes to foreclosure scams, in part because of one local woman whose victims say stole so many homes, she walked away with millions of dollars.
When Nadine Bostic and her husband split up, Bostic's Elkridge home went into foreclosure. It put her in a panic because Maryland only give you 15 days to save your home.
According to court records, is also known as Joyce Jackson, Joy Fordham and Joy Simms. Court records that show she's been sued a half-dozen times for not paying her bills. Records that show she's lived in at least 27 homes and used to run a company called "The Metropolitan Money Store."
This is how it works: Let's say you bought your house a few years ago for $100,000. It's now worth $300,000, but you're going into foreclosure.
So, you ask Joy Jackson at the Metropolitan Money Store for help. She recruits what's called an "investor," promising to pay the investor $10,000 if the investor will sign some papers. She then takes out a second mortgage for the home's full value...remember that $300,000?
She tells you to sign some papers that will let you rent your home from the investor for one year. In return, get $100,000 to pay off your mortgage. Unless you read the papers carefully, you don't realize you've just signed away the deed to your house to the investor...who pockets the $10,000. And your house will still go into foreclosure because instead of paying back the second mortgage, Holland says Jackson pockets the remaining $190,000, and in Bostic's case, throws herself a wedding and is never seen again.
When Nadine Bostic and her husband split up, Bostic's Elkridge home went into foreclosure. It put her in a panic because Maryland only give you 15 days to save your home.
According to court records, is also known as Joyce Jackson, Joy Fordham and Joy Simms. Court records that show she's been sued a half-dozen times for not paying her bills. Records that show she's lived in at least 27 homes and used to run a company called "The Metropolitan Money Store."
This is how it works: Let's say you bought your house a few years ago for $100,000. It's now worth $300,000, but you're going into foreclosure.
So, you ask Joy Jackson at the Metropolitan Money Store for help. She recruits what's called an "investor," promising to pay the investor $10,000 if the investor will sign some papers. She then takes out a second mortgage for the home's full value...remember that $300,000?
She tells you to sign some papers that will let you rent your home from the investor for one year. In return, get $100,000 to pay off your mortgage. Unless you read the papers carefully, you don't realize you've just signed away the deed to your house to the investor...who pockets the $10,000. And your house will still go into foreclosure because instead of paying back the second mortgage, Holland says Jackson pockets the remaining $190,000, and in Bostic's case, throws herself a wedding and is never seen again.
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