Mangano and Schneiderman on Foreclosure Scams

By Grant Newburger

County Executive Ed Mangano joined New York State Attorney General Eric Schneiderman at a press conference Monday – along with state Assemblymen Charles Lavine, David McDonough, and Michael Montesano and County Legislators Norma Gonsalves and Rose Marie Walker – to discuss an initiative aimed at preventing foreclosure scams.

Nationwide, mortgage rescue scammers have conned $100 million from more than 42,000 homeowners, according to a December 2014 report by the Center for NYC Neighborhoods and the Lawyers Committee for Civil Rights Under Law. On average, each New York victim of a foreclosure rescue scam reported a loss of $4,183 – about $900 more than the national average. Beyond the immediate losses, these scams often result in a domino effect for homeowners. The homeowners can end up losing tens or even hundreds of thousands of dollars more because their homes fall into foreclosure as a direct result of the scam.

“There have been too many stories of scammers preying on those citizens who are most desperate and struggling to hold onto their homes,” County Executive Mangano. “This new statewide advertising campaign and consumer education initiative will go a long way in helping homeowners spot, avoid, and report mortgage rescue scams.”

Mangano thanked Schneiderman for his part in combating the “zombie home crisis.”

County Executive Mangano said he also wanted residents to know, that if they’re on the brink of, or facing foreclosure, they can educate themselves on how to avoid and report mortgage rescue scams by visiting the Attorney General’s website at AGScamHelp.com or call (855) 466-3456.

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About nassaucountynewsnetwork

The County Executive of Nassau County,NY
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