NOTICE: All slip opinions and orders are subject to formal revision and are superseded by the advance sheets and bound volumes of the Official Reports. If you find a typographical error or other formal error, please notify the Reporter of Decisions, Supreme Judicial Court, John Adams Courthouse, 1 Pemberton Square, Suite 2500, Boston, MA, 02108-1750; (617) 557-1030; SJCReporter@sjc.state.ma.us
MATTER OF EVAN A. GREENE.
December 2, 2016.
Attorney at Law, Disciplinary proceeding, Suspension.
The respondent attorney, Evan A. Greene, appeals from the order of a single justice of this court indefinitely suspending him from the practice of law. We affirm.
Background. Bar counsel filed an amended three-count petition for discipline with the Board of Bar Overseers (board) against the respondent arising out of his participation in certain residential mortgage foreclosure “rescue transactions” during 2005 and 2006. At the time, the respondent worked with his father, Attorney Barry D. Greene, at a law firm specializing in real estate transactions. Count one of the petition described seven similar transactions. In each instance, a mortgage broker referred to the Greenes a homeowner who had either defaulted on a mortgage or was facing foreclosure, or both, but who had substantial equity in the property. The broker was paid a referral fee. The respondent (or his father) arranged for financing to purchase the property, and then entered into a purchase and sale agreement with the homeowner. The respondent (or his father) also entered into a lease with the former owner, whereby he or she could remain in the property, and a one-year option-to-repurchase agreement. In most cases, the lease payments exceeded the amount of the monthly mortgage payments. In addition, each option agreement required the homeowner to pay a nonrefundable fee ranging from $ 27,000 to $ 50,000. All of the homeowners defaulted on their monthly payments; only one homeowner exercised the option to repurchase.