Nebraska Foreclosure Rescue Operator Back In The News

In Omaha, Nebraska, The Associated Press reports:

• Foreclosure fraud is a concern in many states because of the growing number of foreclosures. One Omaha company, Mid-America Financial Investment Corporation, was already ordered to return title to 11 homeowners and pay $378,000 in fees to the victims' lawyers for using fraudulent tactics. Now Mid-America will be back in the state Supreme Court to argue that it shouldn't have to pay damages to two other homeowners. Mid-America executives defended their business practices in court. But the courts ruled their testimony wasn't credible. Mid-America no longer buys properties from the owners right before foreclosure auctions. At least eight states have adopted laws designed to help protect consumers from the questionable practices some foreclosure consultants use. Nebraska's Legislature considered but did not pass such legislation last year.

Source: Foreclosure fraud is a concern in many states.

See also, The Associated Press: Neb. Foreclosure Fraud Cases in Court for additional details.

For a prior post on Mid-America Financial, see Foreclosure Rescue Operator Ordered To Return Homes To A Dozen Victims.