Three indicted in mortgage fraud crackdown
Wednesday, July 1st, 2009
By: Phil Gregory
email hidden; JavaScript is required
Another crackdown on mortgage fraud in New Jersey has six people indicted in three separate cases.
Attorney General Anne Milgram says two of the accused are women who used information from loan applications to get more than a million dollars in unauthorized mortgages, lines of credit and credit cards.
Milgram: These are instances in which people are going to individuals who do business with small businesses and as mortgage brokers who they believe they can trust with their personal information and the answer very briefly is that they could not trust these people with the information and that they were then victims of identity theft.
Milgram says consumers should make sure their mortgage brokers are licensed. Her office has already filed three civil lawsuits against people and firms for allegedly trying to cash in on the mortgage crisis. Banks in Pennsylvania, New Jersey and New York were defrauded in the schemes.