Posts tagged: mortgage relief
The Idaho Department of Finance is warning that a mortgage-modification scam is targeting Spanish-speaking Idahoans, promising to lower monthly mortgage payments but instead just charging an upfront fee of $1,995. The company is calling itself Freedom Companies Inc., Freedom Financial Mortgage, and several other names containing the word “freedom.” “This company, using the term ‘freedom’ in its name, asks homeowners for private financial information, charges an unlawful upfront fee, and then leaves already distressed homeowners worse off than they were before,” said Gavin Gee, director of the Department of Finance. “That’s not ‘freedom;’ that’s a scam.” You can read Gee's full news release here.
Idaho homeowners are being targeted in a scam in which notices that look like government forms are mailed to them or posted on their doors, inviting them to join lawsuits against their mortgage lenders and claiming they can get large principal reductions or other monetary relief. “The scam is a pretext to collect an unlawful $5,000 upfront fee from homeowners,” said Idaho Attorney General Lawrence Wasden. “The representations in the solicitations are false and are designed to prey on vulnerable homeowners. My office is currently investigating this company.” The company called Corvus Law Group; click below for the attorney general's full news release and consumer alert.