Providence couple accuses real estate broker of ‘foreclosure rescue’ scheme

February 12, 2026 - 08:34

An elderly couple from Providence has taken legal action, filing a lawsuit that accuses a local real estate broker of deceiving them through a predatory "foreclosure rescue" scheme. The suit claims the broker exploited their financial distress and lack of sophistication to strip them of equity in their family home.

According to the allegations, the broker approached the homeowners when they were at risk of foreclosure, presenting himself as a lifeline. He allegedly proposed a complex sale-leaseback arrangement, promising they could remain in their home and eventually repurchase it. The couple contends they were pressured into signing confusing documents under false pretenses.

The lawsuit states that instead of providing rescue, the transaction effectively transferred the property's title to a company controlled by the broker for a fraction of its value. The couple now faces the potential loss of their home and the lifetime of equity they had built within it. This case highlights ongoing concerns about financial predators targeting vulnerable homeowners facing foreclosure, often using convoluted legal maneuvers to secure ownership of distressed properties. The legal complaint seeks to void the property transfer and secure financial damages for the alleged fraud and exploitation.