Foreclosure Rescue Scams

02 Nov Short Sales in Southwest Florida – The Latest News Part I

Short sales in Southwest Florida, especially Lehigh Acres, Cape Coral and Fort Myers are nothing new. We have been living with this problem for a while. The new trend is for buyers to put in multiple offers on different properties creating a kind of buying frenzy. This behavior may have been brought on by the Realtors trying to make a sale or the Buyers wanting to cash in on what looks like a good deal.
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18 May Excel Loss Mitigation & United Servicing charged with fraudulent foreclosure rescue scam in Texas

Texas Attorney General Greg Abbott's office filed for a Temporary Restraining Order against Excel Loss Mitigation Inc., United Servicing LLC, Bell Investments & Developments LLC and their key directors, David Bell and David Espy to stop their foreclosure rescue business. Further, a Harris County (Houston) district judge froze their assets after the AG's office charged the companies with running foreclosure "rescue" scams. All of the defendants were also charged with failing to post a bond with the Texas Secretary of State, which is required to legally conduct business in the state of Texas.
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11 Apr Florida’s Attorney General sues illegal mortgage modification company

In Jacksonville, Attorney General Bill McCollum filed a lawsuit against National Foreclosure Counseling Services, Corp. for charging up-front fees to customers seeking help modifying their mortgage. Florida legislators enacted the Foreclosure Rescue Fraud Prevention Act last October, forbidding any company from charging such a fee in Florida prior to services being rendered. In response to the lawsuit, a judge has entered an order prohibiting NFCS, also known as American Foreclosure Counseling Center, from collecting any additional up-front money from clients. Across the country, former mortgage brokers are now preying upon the same people they ripped off just a few years back. Back then, brokers were completing fraudulent loan applications and taking kickbacks (in the form of a yield spread premium) from lenders for charging home buyers higher interest rates than the rate for which they actually qualified.
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19 Mar Foreclosure Assistance Solutions Pays Restitution to Texas Homeowners

Texas Attorney General, Greg Abbott announced that Texas's enforcement action against Foreclosure Assistance Solutions (FAS) has concluded. The Florida-based company can no longer engage in the foreclosure mitigation business in Texas. Further, the company has paid more than $390,000 in restitution to 351 Texas homeowners. FAS...

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