By Troy Graham
Inquirer Staff Writer

The New Jersey Attorney General filed mortgage-fraud lawsuits yesterday in three counties against 36 defendants, including a South Jersey company accused of running a "rent-to-own" housing scam.

In that lawsuit, filed in Camden County, the attorney general said Ultimate Real Estate Solutions in Williamstown set up a scheme to acquire 18 properties through fraudulent mortgage applications.

Customers with bad credit were promised they could rent the properties - and eventually own them - while Ultimate paid the mortgages.

Instead, the attorney general said, Ultimate collected the rent and allowed the properties to fall into foreclosure.

READ MORE: http://www.philly.com/inquirer/local/nj/20080618_N_J__firms_named
_in_rent-to-own_housing_scam.html

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