Baltimore Mortgage Fraud Led to Many Foreclosures

Two lawsuits allege that Baltimore real estate investors, Eluzer Gold and Benjamin Eidlisz, engaged in a scheme involving the purchase, inflated refinancing, and foreclosure of over 150 homes, primarily in low-income neighborhoods. The lawsuits claim they used shell companies and falsified appraisals to fraudulently obtain more than $24 million, with some properties ending in foreclosure and contributing to rising levels of neighborhood blight and displacement. An ongoing FBI investigation is examining their alleged involvement in a larger pattern of real estate fraud impacting Baltimore’s housing market.

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