The Real Deal Miami

Federal prosecutors convict two in South Florida foreclosure rescue scheme

August 03, 2012 10:30AM

The Department of Justice has convicted two defendants for their roles in a South Florida mortgage fraud scheme. Pompano Beach’s Cathy Saffer and Weston’s Barrington Cooms were convicted by a jury in West Palm Beach on conspiracy and fraud charges in connection with a “foreclosure rescue scheme,” which promised to help homeowners in foreclosure but swindled them out of the remaining equity in their homes. “These individuals engaged in a foreclosure rescue scheme that defrauded homeowners who were having difficulty making their mortgage payments,” said U.S. Attorney for the Southern District of Florida Wifredo Ferrer. “Instead of selling the properties as promised, the defendants sold the homes to straw buyers whom they controlled and then allowed the loans to go into foreclosure.” — Alexander Britell