Former Lawyer Surrenders for 10 Year Prison Term for Theft of $1.5 Million in Surplus Foreclosure Funds

“In the past two or three years, I lost my husband, I lost my house and then I found out that this happened. That’s what I find the most heart wrenching, is that he was taking advantage of people at their worst possible times, when they lost their homes.”

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Former Lawyer Surrenders for 10 Year Prison Term for Theft of $1.5 Million in Surplus Foreclosure Funds

Some victims have yet to file claims or have not yet been located or have died, and next of kin have not been found, he said.

When a foreclosed property was sold, sometimes a portion of those proceeds, called surplus mortgage foreclosure funds, were owed to the former homeowners. Steffens was entrusted to find those persons and pay them what they were due.

“He made absolutely zero effort to locate anyone and stole the surplus money,” Schulson said. “The most outrageous thing is he did it all over the state. He disgraced the legal profession.”

More here…

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4closureFraud.org

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