Red Flags
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Gary Dimattia
Dimattia’s mortgage fraud scheme exploited distressed homeowners, leading to severe legal consequences and eroded trust in financial services.
Quick summary on Gary Dimattia
Gary Dimattia targeted distressed homeowners with a fraudulent “Balance Reduction Program.” He falsely promised to have investors purchase clients’ mortgages and refinance them at current market values, thereby reducing negative equity and monthly payments.
Charging Upfront Fees for Nonexistent Services: Dimattia collected upfront fees ranging from $3,495 to $3,895 from clients, assuring full refunds if services were unsuccessful. However, he consistently failed to deliver the promised mortgage reductions or issue refunds, leaving clients financially strained and betrayed.
Legal Repercussions and Convictions: In March 2013, Dimattia pleaded no contest to ten felony charges, including multiple counts of mortgage lending fraud and theft. Facing a potential sentence of up to 110 years, his fraudulent activities underscore a blatant disregard for legal and ethical standards.
Conclusion: Gary Dimattia’s deceptive practices have inflicted significant financial and emotional harm on vulnerable homeowners. His actions highlight the critical need for vigilance and due diligence when seeking financial assistance.
by: Jairo Fisk
Absolutely heartless. Took nearly $4,000 from us with empty promises. Now we’re worse off than before. He should be in jail.
by: Avah Rutledge
He preyed on struggling families with false hope. We were desperate, and he exploited that. We never saw a refund or a reduced mortgage.
by: Kyree Talley
Scammer alert. Gary Dimattia took thousands in upfront fees, promised mortgage help, and delivered nothing. Then he disappeared. Pure fraud.