Sunday, September 21, 2008

Home Foreclosures & The Penthouse Pet

A former September 2008 Pet Of The Month, Kayden Kross, 23, who is also a popular adult film actress with her own website and a large loyal fan base has fallen into a little legal problems in the state of California for her role in a claimed illegal home foreclosure scam.

It seems that Kayden Kross is accused by the state of California in a home foreclosure scheme in which homes that were in the foreclosure process would be bought out by Kayden and other co-investors while the residents were still in the homes, then the homes then rented out to these persons with a later option for them to buy back the property. The problem is that this scheme is illegal under California law. And whether this was a sincere attempt to help people struggling with a foreclosure crisis to eventually reown their home or just a scam that took advantage of vulnerable persons in a difficult crisis is an issue that will likely have to be resolved in a criminal trial.

Kross, former senior at California State University has seen a rocketing career of fame and wealthy since just 2006. She was even featured on an episode of Gene Simmons' FAMILY JEWELS as well since she became a major celebrity in the adult entertainment industry.

According to the attorney for Kross, Jon-Paul Valcarenghi, Kross was only 20 years old and "financially inexperienced" when she and another woman were "victimized by mortgage professionals" who encouraged her to invest with them. The attorney plans to investigate and prove her innocence in any scheme to defraud persons victimized by this foreclosure scam.

Kross started out as a stripper at the age of just 18 as a means to pay for her college education, and was no doubt looking for honest investment opportunities to harness her rapidly rising income once she became a top 20 six-figure income adult industry model and actress.

It is highly likely that this young woman was only looking for some legitimate opportunities for investments and given very poor investment advice by some mortgage scammers with an illegal home foreclosure investment scheme. But it is another example of the widespread problems that run all through the mortgage industry right now and how this current foreclosure crisis is a deep and complicated problem. It is also true that some persons sometimes take advantage of economic bad times with schemes as well.

On October 14, Kross is expected to be arraigned on some criminal charges that are not yet publicly known. And her attorney will seek to sever her case from the mortgage professionals who lured her into these deep legal problems and prove that she is only a victim in this home foreclosure scheme case as well.

In August 2008, during a huge biker organized Boobs On Parade event in New Zealand where a crowd estimated at 100,000 lined up to watch women who were often topless riding on motorcycles, a drunken parade goer punched Kross in the face. But the latest legal problems for Kross are a real problem by comparison as well as the latest strange story to emerge from the home foreclosure mess.


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