Foreclosure of Spears’ home connected to man charged with running mega mortgage fraud scam

 Foreclosure of Spears’ home connected to man charged with running mega mortgage fraud scam

A property purchased by a Jersey City mayoral candidate is connected to a local man indicted in a multimillion-dollar mortgage fraud scheme, but Lewis Spears says he never met the seller and was unaware of the criminal charges filed against Anthony Garvin in 2019.

The U.S. Department of Justice alleges that Garvin plotted a series of short sale flips in Jersey City and other municipalities by using straw borrowers and submitting loan applications using fake pay stubs and tax information to obtain mortgages and multiple Home Equity Line of Credit (HELOC) loans.

Spears purchased the home at 782 Grand Street from Garvin’s firm, Merchantman LLC, in March 2010 for $265,000, but after making a $4,800 down payment, he never made any mortgage payments.  By the time Bank of America foreclosed on his property, Spears owed them $414,527 – including unpaid property taxes and liens against the property for code violations, according…

Read full article at newjerseyglobe.com