Real Estate Information Archive

Blog

Displaying blog entries 1-2 of 2

Arizona Mortgage Lawsuit Scam

by Nate Martinez

Arizona Mortgage Lawsuit Scam

On Monday August 22nd, 2011 in Phoenix, Arizona Attorney General Tom Horne issued a warning to consumers to be wary of any notices or advertisements that claim to offer homeowners facing foreclosure “complete forgiveness of the loan” or other monetary relief if they join a class-action lawsuit.  Such ploys are likely a pretext to collect illegal up-front fees for foreclosure assistance.

“The mortgage crisis is only made worse by predators who take advantage of consumers who are already facing the loss of their home,” Horne said.  “State and federal law ban almost all types of up-front fees for foreclosure assistance. I am committed to prosecuting anyone who engages in this type of consumer fraud, and it is just as important that consumers be vigilant against these types of scams.”

In California recently lawsuitshave been filed against California attorney, Philip Kramer, the Law Offices of Kramer & Kaslow, plus 19 other individuals and companies for deceptive marketing. It is believed the defendants have take over $7 million in fees from homeowners in 17 states, including Arizona.

Notices may be mailed to homeowners or posted on their doors. Typically, the business claims that the fee they are charging is for a forensic audit of your loan documents to see if you are eligible to join the class action litigation.  However, the Federal Trade Commission’s Mortgage Assistance Relief Services Rule (“MARS Rule”) contains a broad ban on requesting or collecting up-front fees for almost all types of mortgage assistance, including forensic audits related to foreclosure relief.  Arizona’s foreclosure consultant statute also prohibits companies from collecting an up-front fee for assisting homeowners in foreclosure. 

If you feel you’ve been a victim of an Arizona mortgage scam or any other type of consumer fraud, please contact the Arizona Attorney General’s Office Consumer Information & Complaints Unit at (602) 542-5763 / (520) 628-6504 / (800) 352-8431.

If you or someone you know maybe facing a possible foreclosure, please contact me today. There are options and we can help. A short sale is a complex process – one that requires the skill of a professional who is educated and understands how the process works. Don't fall victim to a mortgage scam because you need help - call me today.

Source: Arizona Department of Real Estate-Informational Alert 8.23.2011

RE/MAX Professional Home Hotline

by Nate Martinez

Did you know that RE/MAX Professional’s offers a Home Hotline which is available for the entire local inventory of homes currently for sale? Now you can access property information from any telephone! Voice Pad Curb Call delivers information in high-quality sentence structure in both English and Spanish. By simply entering the street number, or MLS ID, of the home in which you are interested in, you can immediately access details like the number of bedrooms, square footage and current list price. Unlike the wireless web or text messaging, Curb Call works on every phone! Save RE/MAX Professional Home Hotline number in your mobile device now – 602-277-3111.

Displaying blog entries 1-2 of 2

Syndication

Categories

Archives

Contact Information

Photo of Nate Martinez Real Estate
Nate Martinez
RE/MAX Professionals
20241 North 67th Avenue, Suite A1
Glendale AZ 85308
623-643-1010
602-430-5226
Fax: 602-532-7352

Thank you for visiting our website!