Thursday, March 27, 2008

Idaho Bans Florida Foreclosure Rescue

Mortgage Assistance Solutions, LLC, a Florida foreclosure rescue company that sent advertisements to consumers claiming their homes were in foreclosure, can no longer do business in Idaho. Mortgage Assistance Solutions entered into a settlement agreement with the Attorney General that prohibits the company from advertising or engaging in any transaction involving an Idaho consumer or property in Idaho.

Idahoans filed complaints against Mortgage Assistance Solutions alleging that they were sent a direct-mail advertisement that stated, in bold, red letters: “FORECLOSURE COMPLAINT NOTICE.” The advertisement stated that the consumers’ homes were “scheduled to be sold at auction.” In order to avoid foreclosure, the consumers were instructed to call Mortgage Assistance Solutions.

The advertisement also contained false property recording information and identified “National Bank” as the financial institution associated with the foreclosure.  Idahoans who complained to the Attorney General indicated that their homes were not in foreclosure and that the consumers had never done business with “National Bank.”

“Taking advantage of consumers’ fear of losing their homes is an unconscionable business practice,” Idaho Attorney General Lawrence Wasden said.  ”If you are a homeowner who is facing possible foreclosure, I encourage you to contact a HUD-approved counseling agency to obtain free information on avoiding foreclosure.”

Mortgage Assistance Solutions made claims it could negotiate a better deal with a homeowner’s mortgage lender than the homeowner can by dealing directly with the lender.  However, the company required a $1,200 payment before it would discuss possible options with the consumer.

Under the settlement agreement, if Mortgage Assistance Solutions is found doing business in Idaho, it is subject to a $10,000 civil penalty.  The company reimbursed the Attorney General $1,700 in attorney fees and costs.  The company did not admit any liability under the agreement.

Mortgage Assistance Solutions is operated by Michael Stoller, an attorney in Beverly Hills, California.

mortgage fraud

1. Im glad that Idaho is stepping up to the plat on this issue, it is already a tough time in the morket and for the consumer or borrower when they have been late on thier mortgage. they dont need to get something in the mail giving them false hope that they can save thier home.

   Posted by  on  03/28  at  06:01 AM

2. It seems like the mortgage industry just keeps getting black eyes from organizations like this.  Isn’t there anything more severe than a $1,700 fine and being banned from doing business in a state that can be done to people like this?  It is obvious that their intentions we to defraud these individuals and I feel that they should have gotten a more severe punishment.

   Posted by  on  04/02  at  02:26 AM

3. It most be nice for some states to care, and orthers will not do much for you.  I have profe of foregery and fraud, from hand writing exsperts and the state. negligence on the finance company, and neligence on the title company,my lawyer has quit because he had to take care of his family matters and has left in a worst problem then I was in. I can not find a lawyer that will take the case, without having any money. The county clerk is trying to find a lawyer for me, but can’t. If I lived in the city there is help. There is none up state. Legal aid will not help, the bar ass dose not have anyone to ass. The consummers fraud will not help and I can not fight myself the best lawyers in the state. how do you get HELP?

   Posted by  on  04/07  at  03:31 AM

4. Michael T. Stoller is a con artist 1 1/2years ago I hired is company “the new start program “ they said that they were gonna rescue my home from forecloser and renew my credit within one year,bullshit he belongs to the church of scientology and (WISE). I WROTE HIM A CERTIFIED LETTER AND FIRED HIM FOR NOT REPRESENTING ME IN MY BANKRUPTCY. I FILED A COMPLAINT WITH THE BAR ASSOCIATION OF LOS ANGELES AND THE ATTORNEY GENERALS OFFICE IT IS NOW IN THE HANDS OF THE CHIEF TRIAL COMMISION. I WORKED FOR THE UNITED STATES POSTAL SERVICE FOR 15 YEARS AND HAD TO WALK AWAY FROM THE JOB I LOVED SO MUCH, MY WIFE AND I ARE HOMELESS AND WE ARE LIVING ON THE STREETS OF PASADENA CA. AGAIN HE IS A COWARD,FINT AND GANGSTER, HIS ONLY JUSTIFICATION FOR WHAT HE DID TO ME AND MY FAMILY WAS “I’M SORRY” NOW IF THAT AIN’T WEAK THEN I DON’T KNOW WHAT IS. ENCLOSING YOU WILL HEAR HOW THIS NATIONALLY KNOWN FRAUD ARTIST WILL BE PUT TO SHAME ALL BECAUSE HE HAS NO SELF RESPECT FOR HIMSELF. PLEASE E-MAIL ME WITH RESPONSE.

   Posted by  on  04/21  at  04:15 PM

5. my wife and I miss our families dearly but we have nothing to go back to . We recently discovered in 2006 that my home was in pre-forecloser without my knowledge, that year, we fould a credit report file that clearly indicates Wachovia bank was plotting to take my home, back in 2002 I borrowed 2 loans 1st and 2nd, refyed,then a 3year adj.,to 3year fixed but was never given an opt. to renegotiate,with world savings,who I thought was my lender,then came (Stoller),The New Start Program (Letter)and I’ve been homeless since. Keith Hardesty

   Posted by  on  09/15  at  03:39 AM