This is depressing.
First, the fraudsters entangled people in ridiculously complex and costly mortgages. Then they turned around and hit up the same desperate people with bogus mortgage modifications schemes.
Keep in mind: This scheme, in which a West Newbury man allegedly played a central part, took place right as Lehman Brothers was collapsing and through the worst of the recession.
Yet it took this long to indict them, leaving you wondering how many other similar mortgage-modification schemes were (and probably still are) out there.
File under: Grinches
Update – More woes for those with underwater homes. This time, it’s taxes.