More On Settlement Between Mass AG & Mortgage Lenders In Equity Stripping Deals

The Office of Massachusetts Attorney General Martha Coakley announced earlier this week that it reached a settlement with five mortgage lenders or servicing companies that provided financing in foreclosure rescue, equity stripping transactions involving Massachusetts attorney and foreclosure rescue operator Alec G. Sohmer. The settlement, along with a motion to approve the settlement, are currently pending in a Massachusetts Federal Bankruptcy Court.

For a copy of the motion, see Motion To Approve Settlement Agreement (15 pages).

To obtain a copy of the settlement agreement entered into by the five mortgage lenders with the Massachusetts AG's office, you can either:

• drop me a line at HomeEquityTheft@yahoo.com and I'll email you a copy (be sure and put "in re Alec G. Sohmer" in the message line), or
• go here for the direct link to the settlement agreement (click link for Part 2 - "Settlement Agreement - 39 pages" - $2.40) on the U.S. Courts' PACER website. PACER registration required.

Go here for the Massachusetts AG Press Release.

Go here for other posts on this case.

For more on equity stripping scams, generally, see DREAMS FORECLOSED: The Rampant Theft of Americans' Homes Through Equity-stripping Foreclosure 'Rescue' Scams (4.61 MB approx.).