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New York

Foreclosure scams costing New Yorkers millions

Some 2,700 families across the state suffered from a false modification scheme

A foreclosed home in Queens
A foreclosed home in Queens

Scammers are conning millions out of cash-strapped New York homeowners, according to a new study to be released Monday.

Some 2,700 families across the state have been affected by foreclosure scams, which offer false promises of loan modifications, and the problem is particularly acute in the Southeast Brooklyn, Northeast Bronx and Southeast Queens, according to the New York Post.

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“In New York, we are still very much in the depths of the foreclosure crisis, with filings up by 30 percent last year, and these scammers are still preying on New Yorkers across the state,” said Matthew Hassett, co-editor of a new study by the Center for NYC Neighborhoods and Lawyers’ Committee for Civil Rights Under Law.

New York families lose an average of $4,187 per household to fraudsters — 27 percent higher than the national average of $3,296. [NYP] – Christopher Cameron

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ForeclosuresMortgage Fraud