Nationwide Consulting, LLC, and its operators, Kenneth Sandoval and Zacharia Ortiz, who were convicted for their roles in a loan modification scheme, will be repaying their victims out of restitution obtained in the criminal case.
A major distribution of $747,094 from Michigan Foreclosure Scam Restitution Fund to compensate 36 southeast Michigan victims of mortgage modification fraud who would otherwise never see a dime of restitution. Victims of the Nationwide Consulting, LLC mortgage modification scam will now be fully compensated for money lost.
The individual victim reimbursement amounts will range from $250 to $208,000. Michigan Attorney General Bill Schuette’s office will send a letter to each victim notifying them of their upcoming reimbursement. The Wayne County Clerk’s office will disburse the checks.
The victims receiving restitution payments all sought mortgage modifications from Nationwide Consulting, LLC. Sandoval was sentenced to serve up to twenty years in prison and is currently incarcerated at the Ojibway Correctional Facility in Marenisco, Michigan. Ortiz is currently out on parole following the completion of his sentence.
“We created the Homeowner Protection Fund to aid the thousands of Michigan citizens who lost their hard-earned money to mortgage rescue scams,” Schuette said. “In many of these cases, the money was spent by the scammer long before they were convicted, so the chance of victims being repaid in the short term is slim.”
“While we can never bring back a home lost to foreclosure, what we can do is secure restitution to help victimized citizens rebuild their lives. This fund is a good first step, and it will directly benefit the citizens who need it most.”