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Loan Modification Scams Shut Down by AG Brown

Posted by Courtney Pilchmann | May 25, 2009 | 0 Comments

Attorney General Brown has shut down the following loan modification and foreclosure scams: March 2009- Foreclosure Freedom, a fraudulent loan modification company that continued to collect fees and mortgage payments from dozens of homeowners without ever providing any loan modification services.

November 2008- First Gov after the company demanded an up-front fee, ranging from $1,500 to $5,000, to participate in a loan-modification program and never renegotiated the loans. October 2008- $8.68 billion settlement with Countrywide Home Loans after the company deceived borrowers by misrepresenting loan terms, loan payment increases, and borrowers' ability to afford loans.

March 2008- Lifetime Financial, Nations Mortgage, Greenleaf Lending, Virtual Escrow, Olympic Escrow and Direct Credit Solutions after the companies ran a complex predatory lending scheme using bait and switch tactics to victimize thousands of homeowners, many of whom lost their homes.

About the Author

Courtney Pilchmann

Courtney Pilchman is a certified criminal law specialist who was a Deputy District Attorney for over six years prior to becoming a criminal defense attorney. She was a member of some of the most elite prosecution units including crimes against children, family violence, and sexual assault. She pr...

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