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Resource ID: #15064
Subject: Real Estate
Source: Asbury Park Press (Neptune, N.J.)
Date: 1998-12-30



This Asbury Park Press series investigates real estate deals done by Thomas Fauntleroy and a group of associates in depressed areas of Monmouth County, NJ. They sold these homes to minority buyers for a lot more than what they paid and also directed them to get mortages from Fauntleroy's brother. The homes were not only overpriced but the value of them was less than the loan amounts approved for buyers. There were numerous Federal Housing Association violations including FHA-insured loans to Fauntleroy and associates.

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