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Article: BRIEF: Madigan sues mortgage rescue company for fraud.
- Article from:
- St. Louis Post-Dispatch (St. Louis, MO)
- Article date:
- September 15, 2007
CopyrightCOPYRIGHT 2007 St. Louis Post-Dispatch. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Michael D. Sorkin
Sep. 15--Illinois Attorney General Lisa Madigan filed a fraud suit against Florida-based Mortgage Assistance Solutions LLC on Friday, accusing the mortgage "rescue" company of falsely promising to negotiate with lenders to reduce homeowners' mortgage payments or save their homes from foreclosure.
The suit accuses the company of soliciting consumers with postcards that read, "YOU WILL LOSE YOUR HOME IF YOU DON'T CALL NOW!!!" The company demanded $1,200 before it would say what it would do, the suit says.
Madigan sued under the state's consumer fraud law and the recently enacted Mortgage Rescue Fraud Act. The act bars ...