Judge Orders Mediation With DC Homeowners Snagged In Alleged Metropolitan Money Store Foreclosure Rescue Scam

In Washington, D.C., The Washington Post reports:

• A D.C. Superior Court judge ordered prosecutors and mortgage lenders yesterday to begin mediation with District residents who were among 400 Washington area homeowners caught in an alleged mortgage scheme operated by a Prince George's County company.

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• D.C. Superior Court Judge Joan Zeldon ordered the District's prosecutors and the 13 attorneys representing various mortgage lenders to enter into mediation with owners of 25 D.C. homes and 20 area residents who became straw buyers in the scheme. The mediation is designed to quickly return houses to the original owners.

• Prosecutors said Metropolitan [Money Store] never paid the agreed-upon mortgages and left the houses, some of which have since gone into foreclosure, with the straw buyers. Seven of the straw buyers who attended yesterday's hearing agreed with the judge's decision. District prosecutors have said that once the houses are returned to the owners, they will not pursue charges against the straw buyers.

For more, see Mediation Is Next To Save Homes (Houses Went to Straw Buyers).

Go here and go here for other posts on the alleged Metropolitan Money Store foreclosure rescue scam. joyjackson