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Mon., Aug. 23, 2010, 9:56 a.m.

Idaho bars Apply 2 Save owner

Derek Oberholtzer will never again operate a mortgage-modification business, or any other credit-counseling service, in Idaho.

Idaho Attorney General Lawrence Wasden Monday announced that the owner of Coeur d'Alene-base Apply 2 Save, which closed last year, has consented to a settlement that will deny him a license in any activity regulated by the Idaho Department of Finance.

Oberholtzer and Apply 2 Save filed bankruptcies after collecting millions in fees from hundreds of homeowners hoping to renegotiate payment terms on their mortgages. Most received little, if any, help.

Wasden sued the company and owner in April 2009, since obtaining $45,000 in restitution.   

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Bert Caldwell
Bert Caldwell oversees production of the opinion pages, including writing editorials, and editing and selecting letters, columns and cartoons.