Tucson: Arizona regulators suing Tucson landlord over mortgage deals that cost people their homes
Catherine Reagor | Jessica Boehm | Arizona Republic Troy Warren for CNT Arizona regulators are going after two Tucson real estate firms and their manager in connection with a scheme that cost several people their homes and their down payments. The Arizona Attorney General has filed a consumer fraud lawsuit against Deed and Notes Traders, 881 Home and David Kinas, accusing them of deceiving consumers in real estate deals. The lawsuit alleges Kinas sold houses with “wrap mortgages” that involve buyers who typically can’t qualify for a home loan. Those buyers make payments to a seller who maintains the original financing on…