All kinds of things are happening across the US as well as in San Francisco and the one situation to blame of worsening of conditions is San Francisco foreclosure homes. In the first quarter of 2008, San Francisco recorded 2,163 properties in San Francisco foreclosure listings and the rate was one per 338 homes. The percentage from the last quarter of 2007 was 17.43% and the percentage change from the first quarter of 2007 was a whopping 154.17%. In such a situation, you can only expect a worse case scenario.

Different incidents including that of violence and theft were reported from neighborhoods that lie vacant in the wake of foreclosures. One of the recent incidents is that of fraud and this has been committed by a former resident of Tiburon. The court gave its verdict and he has got a 7 year sentence in federal prison. The crime he committed was stealing money directly from the bank accounts of almost 800 people who trusted him to provide information regarding different government foreclosures.

According to the court, Mark Allen Davis has been charged with fraud and will have to serve 81 months in the Federal prison and has to pay an amount of $328,000 in restitution. This sentence was passed by the U.S. District Judge Jeffrey White in San Francisco.

Due to the increase in foreclosures, a huge repository of San Francisco cheap homes has been created, which is drawing more and more investors and first time homeowners. After all, where one family loses their home another family gets them for cheap. This is the reason why Mark Allen Davis almost succeeded in duping so many people of their money.

Davis had given advertisements in several newspapers across US in the period from 2004 to 2007 and promised that anyone who called on the toll-free number provided in the advertisement will get a list of San Francisco bank owned homes and government foreclosures in their respective area. The one time fee for the service was $83 or $93 according to the indictment. Well! Quite predictably Davis never really mailed the list and hence the sentence.