New Jersey AG prosecutes mortgage frauds

March 12, 2009 2:51:08 PM PDT
The New Jersey Attorney General's Office has filed three new civil lawsuits against companies and people it claims were cashing in on the ongoing mortgage crisis. The allegations include charging high fees to homeowners trying to stave off foreclosure and luring people to buy properties under false terms.

Two suits charge two separate companies with purporting to be affiliated with a federally approved anti-foreclosure program.

A third suit charges a disbarred lawyer and his son with perpetuating a complicated land-buying scheme in which they were the only ones making money.

Attorney General Anne Milgram announced the prosecutions Thursday.

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