The buyers didn’t know that a clause in the paperwork allows the company to demand payment of the full amount owed, plus the interest, if they missed a single payment. They also lose all their rights in the home if they missed a single payment.
“Harbour Portfolio Advisors victimized at least 70 Pennsylvanians who thought they were buying habitable homes for themselves and their families,” Shapiro said. “These scammers exploited the fact that many of the buyers were low-income consumers who may not have understood the complicated process of buying a home. Instead, they got subpar homes and misleading deeds.”
The attorney general sued Harbour Financial Advisors to end its “reprehensible conduct.” He accused the company of violating Pennsylvania’s Unfair Trade Practices and Consumer Protection Law, Land Installment Contract Law and usury laws.
