Homeowner/Victims Get Payment Extension In Wraparound Mortgage, Pennsylvania Ponzi Scheme

In Lancaster County, Pennsylvanis, Lancaster Online reports:

• At the urging of state and federal officials, 14 lenders have agreed to continue accepting lower payments from victims of the Personal Financial Management mortgage scam. The original deal reached in October by the lenders and attorneys for the victims was to expire at midnight Thursday. But the state Banking Department announced late Thursday afternoon that 13 lenders had agreed to extend the relief through May. [...] A 14th lender[...] agreed to extend the relief through February. While that's only about half of the 27 lenders involved, those participating lenders are dealing with four-fifths of the victims — 650 of 811."This agreement gives homeowners time to work out permanent solutions," said Secretary of Banking Steve Kaplan in a prepared statement.

For more, see Deal extended in mortgage scam.

Go here and go here for other posts and links to earlier media reports on the Pennsylvania wrap around mortgage Ponzi scheme involving companies operated by WesleySnyder.