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The scheme by Mark Savransky targeted residents in Nassau, Suffolk, Westchester, Queens, the Bronx and Brooklyn, Nassau County District Attorney Madeline Singas said.
Savransky, of Dix Hills on Long Island, converted the funds provided to him by homeowners for his own car payments, credit card, department store and grocery store bills, restaurant tabs, travel and even Netflix, Singas said.
Savransky pleaded guilty Tuesday before Supervising Judge Teresa Corrigan to two counts of second-degree grand larceny (a C felony) and one count of second-degree scheme to defraud (a Class A misdemeanor).
He ran a mortgage modification business based in Nassau County, using the name Mark Savran, between 2008 and 2014, Singas said.
Singas said Savransky "preyed on vulnerable homeowners during the height of the mortgage crisis and swindled them out of more than a half-million dollars."
“In many cases, homeowners didn’t know they were in trouble until lenders started foreclosing on their homes," she said.
He is due back in court on Dec. 4 and faces a maximum of one to six years in prison when he is sentenced on Jan. 10.
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