Wednesday, December 27, 2006

Arizona AG Files Charges Against Foreclosure Rescuer

Another example of the Arizona Attorney General's pursuit of allegedly deceptive forcelosure rescue operators can be found in this June, 2005 Press Release, where he charged, in a civil lawsuit, the companies with misleading homeowners into signing over their homes as part of a plan to save their home from foreclosure.

The allegations decribe the "rescuer" as requiring the homeowners to pay an outrageous sum to "buy back" their homes, and that many lost their homes because of the company's deceptive sales tactics.

Also alleged is that the company

  • "targeted Spanish-speaking communities, and applied high pressure tactics to convince homeowners to sign densely worded legal documents the homeowners often did not understand. In some cases the VRF representative refused to allow the homeowner to read the documents before signing, making the homeowner dependant on the VRF representative’s explanation."

Many of the homeowners were actually unaware that they were signing over their homes, according to authorities.

For media reports on this case, see

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