Iowa AG Calls For Laws To Fight Foreclosure Rescue Scams

The Iowa Attorney General announces:

• [Iowa] Attorney General Tom Miller is asking the Legislature for new measures that protect home-buyers from predatory lending and other forms of mortgage lending fraud.

Among the measures being sought is a law specifically targeting foreclosure rescue scams.

• Miller also asked the Legislature to pass a bill to fight “mortgage foreclosure rescue fraud” – scams that prey on people facing foreclosure by asking them to pay hundreds of dollars for so called assistance or “rescue” from the danger of foreclosure. “The problem is these ‘rescue scams’ just take people’s money and fail to do almost anything to help them avoid foreclosure,” Miller said at a news conference Friday at his office. “And they take precious funds from people who are vulnerable and who can least afford to be cheated. This is the definition of adding insult to injury.”

For more, see AG Miller Offers laws to protect home buyers.