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Real Estate & Property Law

: The Home Equity Theft Reporter

NYC Feds Charge Four In Alleged Cash Back, Mortgage Scam; Ex-Cons, Public Housing Tenants Recruited As Straw Buyers; Homes End Up Foreclosed

By r morris

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The New York Post reports:The feds [Wednesday] charged four people with running a $10 million scam that used ex-cons and public-housing tenants to secure subprime loans from banks tied to the mortgage meltdown.***The swindle - involving distressed properties in Brooklyn, Queens, Long Island and Westchester - targeted lenders, including Fremont Investment and Loan, First Franklin, and Mortgage

Full post as published by The Home Equity Theft Reporter on February 20, 2009 (boomark / email).

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