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
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
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
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
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Rachel Dollar is an attorney and Certified Mortgage Banker who handles fraud recovery litigation for lenders and secondary market investors nationwide. She is a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is licensed to practice law in California and maintains offices in Santa Rosa, California. 
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