Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Sunday, September 30, 2012
Indiana AG Tags Five More Out-Of-State Outfits For Alleged Loan Modification Ripoffs, Running Up Total To 140 Civil Lawsuits Throughout State Against Suspected Upfront Fee Rackets
From the South Bend (Indiana) Tribune:
You want to modify your home loan to stop foreclosure and a company offers to help for an upfront fee. You pay the fee. And your home winds up in foreclosure while the company that took your money disappears.
On Wednesday, five out-of-state foreclosure consulting companies were sued by the state of Indiana for allegedly ripping off homeowners in St. Joseph, Elkhart, Allen and LaPorte counties.
Indiana Attorney General Greg Zoeller filed five lawsuits -- three in St. Joseph Circuit Court and two in Elkhart County -- charging four companies and one law firm with violating the Credit Services Organization Act, the Mortgage Rescue Protection Fraud Act, the Home Loan Practices Act and the Deceptive Consumer Sales Act.
American Home Relief Foundation of Delaware, CC Brown Law of Utah, Legacy Holding Group of Arizona, and Right Away Doc Preparations Inc. and Property Solutions Center, both of California, "... promised to modify customers' home loans in exchange for an upfront fee but didn't complete the job or provide a refund," Zoeller charged in the suit.
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In South Bend, homeowners can call the Notre Dame Clinical Law Center, said Notre Dame law professor Judy Fox. "We represent you for free," Fox said. Contact the Clinical Law Center at 574-631-7795.
Since 2006, the attorney general's office has filed 140 lawsuits against foreclosure consultant companies in more than 30 counties across Indiana. Zoeller urged those who may have been victimized by a mortgage relief scam to file a complaint with the Indiana State Attorney General's Office.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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