North Carolina AG Targets Companies In Loan Mod Scams

Posted by Orb Staff on September 25, 2012 No Comments
Categories : Mortgage Servicing

12448_roycooperncdoj282-2 North Carolina AG Targets Companies In Loan Mod Scams North Carolina Attorney General Roy Cooper has filed lawsuits against three companies that allegedly scammed homeowners with fraudulent loan modification assistance programs.

Cooper alleges that the Community Mortgage Assistance Program and Lender Exchange, both located in Charlotte, and Tidewater Financial of Wilmington charged consumers illegal fees for mortgage loan modification services and then failed to provide them with meaningful help. In his lawsuits, Cooper is seeking civil penalties and consumer refunds from the companies, and he is also asking the court to ban the companies and their principals from engaging in mortgage banking and debt relief operations.

‘These schemes promise to help save your home but instead drive you closer to foreclosure,’ Cooper says. ‘Victims lose precious money that could pay their mortgage, and critical time that could be spent negotiating real loan modifications.’

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