Lawmakers Hear From Victims Of Predatory Lending Scams

Diane J. Savino

August 15, 2007

Victims of predatory lending scams told their stories to a group of state lawmakers Tuesday.

It was the fourth in a series of hearings held statewide to give officials a chance to learn more about how they can help.

Experts blame predatory lending for Staten Island’s high foreclosure rate – the highest in the five boroughs.

Local resident Trudy Scafiddi says she was misled when taking a loan and now she's paying the price.

"We have a mortgage of $2,700 that we just cannot afford and we need the help,” she said.

"We heard testimony today from an attorney who is a Harvard graduate and she was taken advantage of,” said State Senator Diane Savino. “So it's not a level of intelligence and it's not a level of income. Anyone can fall victim to this."

Those who believe they have fallen victim to a predatory lending scam call Legal Services at 718-233-6480.