Mortgage scam shatters Perth Amboy couple's dreams

The story a Perth Amboy couple that tells of how mortgage scams dashed their dreams is a classic portrait of a bully pouncing on the weak. Facing financial struggles, Benito and Conchita Vargas turned

News 12 Staff

May 1, 2009, 12:05 AM

Updated 5,704 days ago

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The story a Perth Amboy couple that tells of how mortgage scams dashed their dreams is a classic portrait of a bully pouncing on the weak.
Facing financial struggles, Benito and Conchita Vargas turned to a company called Property Solutions four years ago. The company allegedly promised to buy their house, help refinance it and then sell the home back to them. The couple says those promises were never filled. The Vargases were evicted.
Attorney General Anne Milgram and the Division of Consumer Affairs have filed a lawsuit against Property Solutions accusing them of swindling the Vargases and at least three others.
"What we're looking at here is a classic scam," says David Szuchman, director of Consumer Affairs.
Following their eviction, the Vargases began renting an apartment a stone's throw from their dream house. They had hoped to somehow find a way back after weathering the recession, but were recently informed the home was sold.
News 12 New Jersey was unsuccessful in acquiring a response from Property Solutions.