AG Kroger Sues Loan Modification Firm, Settles With Another
The complaint alleges that the defendants collected advance fees ranging from $725 to $2,950 in violation of Oregon law, which caps advance fees at $50.
According to the complaint, although most of the defendants' Oregon clients were current on their mortgage payments, the defendants encouraged them to skip at least one payment, claiming it would encourage their lender to re-negotiate.
Notwithstanding promises to obtain loan modifications, NOD Consultants allegedly failed to obtain a loan modification for 33 of its 34 Oregon clients.
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Posted on Oct. 13, 2011
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