Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Tuesday, June 18, 2024 | Back issues
Courthouse News Service Courthouse News Service

Class Alleges Foreclosure Rescue Scam

WHITE PLAINS, N.Y. (CN) - After homebuyers are victimized by unscrupulous lenders, the American Modification Agency defrauds them again by promising to modify their loans, but failing to perform and refusing to refund their money, citing its own unconscionable contracts, a class action claims in Federal Court.

Also sued are Island Pride Homes, Salvatore Pane Jr., Russell Izzo, Calvin Gordon, and James Anzelone.

Plaintiffs claim the defendants have collected fees from more than 7,000 victims through unconscionable and deceptive business practices.

Salvatore Pane Jr. is CEO of the American Modification Agency, according to the complaint. Izzo is its COO, Gordon is CFO and Anzelone is a "senior modification advisor."

Plaintiffs demand $100 million in damages for fraud, breach of contract and other violations. They are represented by Jeffrey Greene of White Plains.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...