Have you been a victim of mortgage fraud in Michigan?
Attorney General Bill Schuette announced this week that $114,542 will be distributed from the Homeowner Protection Fund by his Corporate Oversight Division to more than 112 victims of the Hope4Homeowners mortgage rescue scam.
“These funds will help victims of the mortgage foreclosure cases we’ve prosecuted get their money back, when they would otherwise be left with nothing,” said Schuette.
In August, 2013 Schuette announced the launch of a Foreclosure Rescue Scam Victim Restitution fund as a part of the Homeowner Protection Fund monies received by the State of Michigan to resolve the National Mortgage Settlement.
Many Michigan residents have fallen prey to foreclosure rescue scam artists who offered to help citizens save their homes. This program is intended to provide restitution payments for victims of foreclosure scams.
Have you been a victim from Help4Homeowners?
The charges against Help4Homeowners resulted from Attorney General investigation based on homeowner complaints.
Help4Homeowners was charged with three counts of violating Michigan’s Credit Services Act (CSA). The CSA prohibits charging fees before completing services when seeking to negotiate a loan on behalf of a homeowner.
The Credit Services Act carries a maximum penalty of 90 days in jail and/or $1,000 fine, and allows the Attorney General’s office to seek restitution for affected consumers. Misleading or false statements made by the companies included guarantees to prevent foreclosure and assertions consumers could avoid foreclosure regardless of their credit score, home appraisal, or debt to income ratio. Victims were charged between $595 and $3,000.
Schuette encourages consumers who may have been a victim of Help4Homeowners to contact his Corporate Oversight Division at 877-765-8388