With more and more states now taking action to protect consumers from bogus marketing of mass joinder and tort litigation suits against their mortgage company, now Idaho has jumped in the pool. The Idaho Attorney General says:
A company called Corvus Law Group is mailing ads to Idaho homeowners inviting them to join scam lawsuits against their mortgage lenders, Attorney General Lawrence Wasden warned today. The ads look like government forms and claim homeowners can get large principal reductions or other monetary relief if they join the lawsuit.
“The scam is a pretext to collect an unlawful $5,000 upfront fee from homeowners,” Attorney General Wasden said. “The representations in the solicitations are false and are designed to prey on vulnerable homeowners. My office is currently investigating this company.”
The ads, which appear to be “notices,” may be mailed to homeowners or posted on their doors. Typically, the business asks for a “retainer fee” and may ask homeowners for their credit card numbers or offer to set up a weekly payment plan.
State and federal laws prohibit companies from charging upfront fees for foreclosure rescue or mortgage modification services. Beginning September 1, it is unlawful for a person to charge a fee, upfront or otherwise, for these services, unless the person offering the service is licensed with the Idaho Department of Finance or exempt from its licensing requirement.
“I encourage homeowners who have lost money to this business or other mortgage rescue companies to file complaints with my Consumer Protection Division,” Wasden said. Complaint forms are available here or by calling (208) 334–2424. – Source
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