Source: florida.realestaterama.com
Attorney General Bill McCollum Friday announced his office has filed a lawsuit against an Orlando company that allegedly charges homeowners facing foreclosure up-front fees for loan modification services. According to the lawsuit filed today in Orange County, Victor Lopez & Associates and its owners are in violation of Florida’s Foreclosure Rescue Fraud Prevention Act. The company’s office is located in Orlando.
An investigation conducted by members of the Attorney General’s Economic Crimes Division, working as part of the Attorney General’s Mortgage Fraud Task Force, indicated that Victor Lopez & Associates was charging up-front fees as high as $2,295 to homeowners seeking loan modification services. Additionally, consumer complaints allege that the company has not performed the promised services and that consumers are unable to contact the company or get refunds.
According to the lawsuit, Victor Lopez & Associates targeted the Hispanic community by advertising on Spanish radio and television and conducting the majority of sales transactions in Spanish, but only provided consumers with contracts in English. The Attorney General’s lawsuit seeks a permanent injunction prohibiting Victor Lopez & Associates from charging up-front fees, restitution on behalf of all victimized consumers, civil penalties of $15,000 for each violation of the Foreclosure Fraud Prevention Act, and reimbursement for fees and costs related to the investigation.
Central Florida Loan Modification Company Targeting Hispanics Sued for Mortgage Fraud
