Two Seattle-Area Homeowners Unwittingly Snagged In Sale Leaseback, Equity Stripping Scheme
In Seattle, Washington, KOMO-TV Channel 4 reports on the stories of two area homeowners facing foreclosure and how they lost over $125,000 in home equity when entering into sale leaseback, equity stripping transactions with foreclosure rescue operator Godsend Security Funding.
After lawsuits were brought against Godsend, a private settlement was reportedly reached in one case and is currently being negotiated in another. Representing one of the homeowners, area attorney Melissa Huelsman commented that it was the third lawsuit that she personally filed against Godsend.
In the Washington state legislature, House Bill HB 2791 and its companion bill, Senate Bill SB 6431, are being considered by state lawmakers as ways to curb the abuses by foreclosure rescue operators.
To view the KOMO-TV Channel 4 video, see Attempts to avoid foreclosure could cost you more (go here to read transcript).
After lawsuits were brought against Godsend, a private settlement was reportedly reached in one case and is currently being negotiated in another. Representing one of the homeowners, area attorney Melissa Huelsman commented that it was the third lawsuit that she personally filed against Godsend.
In the Washington state legislature, House Bill HB 2791 and its companion bill, Senate Bill SB 6431, are being considered by state lawmakers as ways to curb the abuses by foreclosure rescue operators.
To view the KOMO-TV Channel 4 video, see Attempts to avoid foreclosure could cost you more (go here to read transcript).
posted by Home Equity Theft Reporter at 7:54 AM
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