July 8, 2009
State bans foreclosure rescue cos.
By The Mainebiz News Staff
State regulators yesterday banned 15 out-of-state foreclosure rescue companies from doing business in Maine for taking fees from consumers but doing nothing to help them avoid foreclosure.
The Bureau of Consumer Credit Protection said the companies took a total of $36,000 in advance fees from 30 Maine households but did not help any avoid foreclosure or reduce any debt, according to the Portland Press Herald. Many of the companies were based in Florida, California or New Jersey.
David Stolt, the bureau's chief field inspector, urged consumers to only use licensed and bonded foreclosure rescue or debt management companies.
The 15 companies:
- Federal Loan Modification Center in Irvine, Calif.
- United Hope Alliance Corp. in Jacksonville, Fla.
- National Foreclosure Counseling Services in Jacksonville, Fla.
- Hope Now Modifications in Cherry Hill, N.J.
- Pathway Financial Management in Stanton, Calif.
- Law Offices of Joel L. Schwartz of Northfield, N.J.
- BillsMadeSimple.com Inc. in San Diego
- Lewis Foreclosure Mediation Services LLC in Phoenix
- Apply 2 Save Inc. in Coeur d'Alene, Idaho
- HelpModifyNow.com in Newport Beach, Calif.
- Ocean View Investment Services Co. in Fort Lauderdale, Fla.
- FHA All Day in Boca Raton, Fla.
- Mason Capital Group LLC in Encino, Calif.
- The Hall Firm in New York
- Fresh Start Mortgage Assistance Solutions in Beverly Hills, Calif., and Clearwater, Fla.
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