Article: ATTORNEY GENERAL MADIGAN SUES THREE MORTGAGE RESCUE COMPANIES

The Illinois Attorney General issued the following news release:

Attorney General Lisa Madigan has filed three lawsuits against mortgage rescue companies for allegedly violating the Illinois Mortgage Rescue Fraud Act and the Consumer Fraud and Deceptive Business Practices Act.

The Mortgage Rescue Fraud Act was initiated by Madigan in 2006 and became law in January 2007. It prohibits mortgage rescue companies from requiring payment from consumers prior to completing all the terms of a rescue contract. It also requires rescue businesses to fully disclose to a homeowner the exact terms and nature of the proposed rescue services and their rights to cancel the contract. With today's filings, the ...

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