Thursday, November 17, 2016

Ohio AG Files Civil Suit Accusing Out-Of-State Loan Modification Outfit With Violations Of State Consumer Protection Law For Alleged Ripoffs Of Financially Distressed Homeowners

From the Office of the Ohio Attorney General:
  • Ohio Attorney General Mike DeWine [] announced a lawsuit against a California-based firm accused of misleading consumers and taking upfront payments for mortgage-relief services it failed to provide.

    The lawsuit accuses Core Advisory Group LLC and its operator, Trung (“Mike”) Luong of Newport Beach, of violating Ohio consumer protection laws.
    ***
    According to the lawsuit, Core Advisory Group offers mortgage relief services for a fee, often ranging between $1,745 and $3,900. It advertises online and through the mail. The mail solicitation provides a phone number, but not the business’s name, and it tells consumers they may be eligible for a program to lower their mortgage payments. When consumers respond, the firm allegedly offers a two-phase program of filing complaints for consumers with government agencies (apparently to draw more attention from the consumer’s mortgage servicer) and then working on the “reinstatement and restructuring” of a consumer’s loan.

    An investigation by the Attorney General’s Consumer Protection Section determined that these representations often were not true and that Core Advisory Group failed to provide services it had agreed to provide.

    In the lawsuit, filed in the Richland County Common Pleas Court, Attorney General DeWine seeks reimbursement for affected consumers and an end to any violations of Ohio’s Consumer Sales Practices Act.

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