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Real Estate & Property Law

: The Home Equity Theft Reporter

Manhattan Feds Bust Alleged Equity Stripping, Mortgage Fraud Scam; 13 Suspects Charged

By r morris

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In Islip, New York, the New York Daily News reports:The feds busted up a $10 million mortgage scam that had left city and Long Island homeowners facing eviction. The scheme, run out of Bridgewater Funding in Islip, L.I., targeted dozens of residential properties in the $200,000 to $500,000 range, Manhattan prosecutors said [Thursday].(1)The mortgage brokerage firm would approach homeowners who

Full post as published by The Home Equity Theft Reporter on June 01, 2009 (boomark / email).

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