NJ AG Files 3 Civil Suits Against 36 Alleging Straw Buyer Use, "Bait & Bump" Tactics, Bogus Foreclosure Rescue & Rent To Own Deals, Rent Skimming, Etc

From the New Jersey Attorney General's Office:

• Attorney General Anne Milgram filed mortgage fraud lawsuits against 36 defendants charging consumer fraud and civil racketeering by various mortgage brokers, real estate entities and others throughout New Jersey.

• The unrelated complaints accuse defendants of inducing consumers to buy property on the basis of false promises and misrepresentations, and of taking out mortgage loans on the basis of grossly inflated property values. The defendants include mortgage brokers, real estate appraisers, title companies, straw buyers and sellers, and promoters. Filed in state Superior Court in Essex, Camden and Passaic Counties, the three complaints allege violations of both the New Jersey Consumer Fraud Act and the New Jersey Racketeer Influenced and Corrupt Organizations (RICO) Act involving 25 properties and more than $5 million in fraudulent loans.

For a summary of each case, see the New Jersey AG press release: Attorney General Announces Mortgage Fraud Lawsuits (Defendants Allegedly Violated Consumer Protection, Civil Racketeering Acts).

To view each lawsuit, see:

• Milgram v. A&E Mortgage Company, L.L.C.,
• Milgram v. Ultimate Real Estate Solutions, L.L.C.,
• Milgram v. American Millenium Company, L.L.C.