ABC6 News is reporting that Jason Dahms, Richland Township, PA, filed a lawsuit against Edward Schnable Junior, a Souderton, Pennsylvania mortgage company owner, alleging Schnable swindled him out of $200,000 – apparently by convincing him in 2002 to make a two week loan to a business partner. The paper reports that another lawsuit with similar allegations was filed last month and that Schnable was arrested in 2003 and accused of scamming another individual out of $128,000.
This site contains the text of articles written about the previous lawsuit and the criminal charges.
Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.