FTC Jumps Into The Detroit Land Bank Authority Mortgage Fraud Foreclosure Takedown Game
Oh, those "Legal Geniuses" (trademark pending) over there at the Detroit Land Bank Authority are at it again!
They should have known that if they sold a house, they never owned, in an historic district that was not permitted to be sold using TARP, across state lines, that there was a likelihood that someone would actually take out a mortgage for investment purposes.
But then, the Detroit Land Bank Authority, filed a quiet title on the properties, for the second time, as seen in the Utah subpoena, below.
Unfortunately, due to the fact that the Detroit Land Bank Authority never incorporated, there seems to be issues with the out of state banks and the mortgages they mistakenly approved.
So, since the Detroit Land Bank Authority, L.L.C. was dissolved by Michigan Attorney Bill Schuette, I shall assume the FTC has stepped up to the plate to muddle through this TARP mess because no one knows who the registered agent of the Detroit Land Bank Authority is due to the fact that they never incorporated.
Let us give a hearty round of applause to the Federal Trade Commission for joining in on our conjugal collaboration with the DOJ.
Welcome to the party.
Oh, and Perkins Coie still sucks.
FTC Halts Deceptive Mortgage Loan Modification Scheme
The Federal Trade Commission has charged a mortgage loan modification operation with deceiving financially distressed homeowners by falsely promising to prevent foreclosure and make their mortgages more affordable. A federal court temporarily halted the scheme and froze the defendants’ assets at the FTC’s request.
Image result for federal trade commissionAccording to the FTC, the defendants typically charged consumers $3,900 in unlawful advance fees, in $650 monthly installments, falsely promising expert legal assistance and touting a 98-100 percent success record. They also allegedly misrepresented they would cut homeowners’ interest rates in half and reduce their monthly mortgage payments by hundreds of dollars.
The defendants, charged with violating the FTC Act and the Mortgage Assistance Relief Services Rule [MARS Rule (Regulation O)], are Preferred Law PLLC; Consumer Defense LLC (Nevada); Consumer Defense LLC (Utah); Consumer Link Inc.; American Home Loan Counselors; American Home Loans LLC; Consumer Defense Group LLC, formerly known as Modification Review Board LLC; Brown Legal Inc.; AM Property Management LLC; FMG Partners LLC; Zinly LLC; Jonathan P. Hanley; Benjamin R. Horton; and Sandra X. Hanley.
The FTC appreciates the assistance provided by the Utah Attorney General's Office, the Utah Department of Commerce – Division of Consumer Protection, the New Mexico Attorney General’s Office, the Connecticut Department of Banking, and the Oregon Department of Consumer and Business Services in bringing this case. The Commission vote approving the complaint was 2-0. The U.S. District Court for the Nevada entered a temporary restraining order against the defendants on January 10, 2018.
For consumer information about avoiding mortgage and foreclosure rescue scams, see Mortgage Relief Scams.
NOTE: The Commission files a complaint when it has “reason to believe” that the law has been or is being violated and it appears to the Commission that a proceeding is in the public interest. The case will be decided by the court.
Learn more: BEVERLY TRAN: FTC Jumps Into The Detroit Land Bank Authority Mortgage Fraud Foreclosure Takedown Game http://beverlytran.blogspot.com/2018/01/ftc-jumps-into-detroit-land-bank.html#ixzz54r2Wx7mT
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