Three Men Charged in $18.5M Mortgage Fraud Scheme

image

Two men from California and one from New York were charged in connection with an alleged $18.5 million mortgage modification fraud scheme.

U.S. officials believe this may be the largest charge of its kind.

The three men allegedly falsely led more than 8,000 homeowners in all 50 states to believe that they were pre-approved for lower mortgage rates via a company called Home Affordable Modification Program.

Image via flickr/.v1ctor Casale.

Continue to original source.