Items Tagged with 'New Jersey'

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Former New Jersey councilman gets 5 years for $13 million mortgage fraud

Used phony documents and straw buyers to buy condos
A former councilman and failed mayoral candidate for the city of Kearney, New Jersey, will spend the next five years in prison after pleading guilty for his role in a $13 million mortgage fraud scam that involved using straw buyers to buy condominiums from financially distressed developers.
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Senators demand answers on New Jersey zombie foreclosure crisis

Booker, Menendez seek resolution to abandoned property outbreak
According to a recent report from RealtyTrac, the state of New Jersey has more zombie foreclosures than any other, and now, the state’s two senators are asking why the problem is so bad and what federal regulators are going to do about it.
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