SYRACUSE – August 29, 2013 – (RealEstateRama) — Attorney General Eric T. Schneiderman today announced the indictment of two attorneys, an appraiser and two others for their roles in a mortgage fraud ring that operated for years and netted more than $1 million by preying upon first-time home buyers and institutional lenders. The five defendants bilked consumers by advertising a rent-to-own opportunity in which first-time home buyers with low credit were offered the chance to own their own homes with no down payments and no closing costs
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