Missouri Attorney General Chris Koster has filed a lawsuit against US Foreclosure Relief of California for allegedly taking money from consumers to help them modify their loans, but not performing the work."Unfortunately, these tough economic times have brought out opportunists who prey on people at some of their most desperate and vulnerable moments," said AG Koster in a statement. "People facing the loss of a home may feel that they have no other choice but to turn to these fraudulent companies. The Attorney General's Office intends to stop them from doing business in Missouri." According to The Orange County Register, US Foreclosure Relief is a California company with a location in Orange but its telephone does not pick up. AG Koster says US Foreclosure charged homeowners $1,850 for its services, along with a processing fee of $500. "The company demanded payment upfront, in violation of Missouri law. Missouri law is clear that payment may not be charged or collected until the foreclosure consultant service is performed," says the AG's office.
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This data release means another milestone for the use of updated credit score models than the current FICO Classic has been met by Fannie Mae and Freddie Mac.
10h ago -
The real estate and fintech company completed the purchase of 100% of Mortgage One Group, marking a major step in its push into AI financing.
11h ago -
The rise in completed modifications occurred as many other loan performance indicators plateaued, and may reflect the temporary impact of recent rule changes.
July 1 -
The Department of Housing and Urban Development got 67 responses to its request for information regarding the FHA program's Minimum Property Requirements.
July 1 -
Mortgage applications rose 0.4% on a seasonally adjusted basis from one week prior for the period ending June 26, according to the MBA's Market Composite Index.
July 1 -
Homeowners accuse the home equity investment company of breaking the law for suggesting that its home equity investment product isn't a mortgage.
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