Elmont Online

The Elmont Public Library hosted Attorney General Andrew M. Cuomo as he announced that his office has filed lawsuits against two loan modification companies for engaging in nationwide foreclosure rescue scams. The lawsuits were filed against National Modification Service ("National Modification") and its founder Joseph Romano, and Infinity Mitigation Corporation, Infinity Funding Group ("Infinity"), and their owner and principal Neil Singer. The companies and their owners prey on homeowners facing foreclosure by claiming that they can save their homes, but often fail to provide the services promised. National Modification is based in Farmingdale, New York and Infinity is based in Bohemia, New York.

"As New Yorkers and others across the country fight to stay afloat in these tough times, we continue to see dishonest companies preying on vulnerable homeowners," said Attorney General Cuomo. "These companies pretend to be reaching out a helping hand, but instead they push consumers further down into debt and, in some cases, into foreclosure."

The foreclosure crisis has claimed the homes of thousands of New Yorkers across the state. In January 2010 alone, there were 4,569 foreclosed properties in New York, and 1 in every 1,737 housing units had received notice of foreclosure. New York City and Long Island led the state with the most foreclosure filings per county in January 2010: Suffolk (765); Kings (693); Queens (616); Nassau (521); Westchester (342). The Attorney General's ongoing investigations have shown that thousands of New Yorkers and homeowners throughout the country have been affected by foreclosure rescue scams.

Attorney General Cuomo made his remarks before an audience that included Joyce Stowe, Chairperson of the Elmont Community Coalition Counsel, Patrick Nicolosi, Library Board Trustee and other members of the community and press.  In addition to the Mr. Cuomo's remarks Ms Barbara Weaver gave a vexing account of what happned to her.

The lawsuits against National Modification and Infinity allege that the companies charged homeowners up-front fees of several thousand dollars, a violation of New York law. In addition, the companies used misleading advertising and made false representations to customers, including unsubstantiated claims of over a 90% success rate and guarantees that they would be able to convert an adjustable-rate mortgage to a lower, fixed-rate mortgage. The lawsuits also allege that the companies promised a 100% money-back guarantee but then failed to provide refunds to customers that they scammed, often even refusing to answer the customers' calls.

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