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AG: Homeowners Targeted In 'Foreclosure Rescue Scam'
POSTED: 5:21 pm CDT September 14,
2007
UPDATED: 5:43 pm CDT September 14,
2007
HOUSTON -- The Texas attorney general cracked down on a company accused of preying on homeowners needing mortgage help, KPRC Local 2 reported Friday.Attorney General Greg Abbott charged Foreclosure Assistance Solutions, LLC, of Clearwater, Fla., with operating an unlawful foreclosure rescue scam that targeted struggling Texas homeowners.A single mother of three, Esmeralda Flores walked away from a 30-year home mortgage after paying on it for 15 years. She said she was one of the victims.
When the adjustable rate mortgage ballooned out of control, she faced foreclosure.Then, she received a flyer and thought it was a lifesaver."They told me, 'Do not attempt to contact a mortgage (company). If they call you in any way, just cut all ties with them. We will deal with them.' And that is what they told me I was signing. That was not the case," Flores said.Flores paid $1,200 to the company called Mortgage Second Chance, also known as Foreclosure Assistance Solutions, or FAS."Countless Texas homeowners have been duped into giving $1,200 to FAS and unfortunately, in the process, still lost their home," Texas Attorney General Greg Abbott said.Abbott asked a Bexar County court to bar FAS from its alleged fraudulent practices and to freeze $13 million in the company's assets.It was too late for Flores. She lost her four-bedroom home in Angleton and damaged her credit."I just take one day at a time, and I just wake up and thank goodness that I’m here today, and just pick up my pieces and move on. I can't be depressed and be on the side of the road with my kids," Flores said.She now has advice for those tempted."Always investigate these companies and make sure they're not fraudulent and they've never had any previous complaints. That came to my mind. I just didn't do it," Flores said.The Better Business Bureau in Clearwater, Fla., has 236 complaints filed against FAS. Forty-three of the complaints are from Texas residents.For more information, visit the Texas Attorney General's Web site.
Copyright 2008 by Click2Houston.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Copyright 2008 by Click2Houston.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.










