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Mortgage Lender Accused of Mortgage Fraud by Louisiana Attorney General

louisianarecord.com | August 10, 2014

By Anna Aguillard

COVINGTON – Louisiana Attorney General Buddy Caldwell has brought suit against a California-based company, accusing it of falsely promising mortgage relief to financially distressed Louisiana homeowners.

Caldwell filed suit against Home Preservation Services in the 22nd Judicial District Court on July 30.

According to the suit, defendant Home Preservation Services is a California-based company that claims to offer “foreclosure rescue” and “loan-modification schemes” to financially distressed homeowners in Louisiana. Through mail solicitations, the defendant allegedly initiated contact with homeowners, advertising a supposed affiliation with the Federal Government’s “Making Home Affordable Plan and Stability Initiative.” The company purportedly led homeowners to believe that, after submitting paperwork, mortgage loan documents, personal identifying information and a substantial upfront payment, their mortgage loans would be renegotiated, their delinquent payments would be covered and their monthly mortgage bill would be reduced.

However, the suit alleges that the results Home Preservation Services promised were false. Caldwell claims that no loan modifications were ever negotiated and further contends the defendant never even made contact with a single mortgage lender.

The defendant is accused of intentionally defrauding Louisiana homeowners and of violating the Louisiana Unfair Trade Practices Act, the Consumer Protection Law and the False Advertising Statute. The Attorney General argues that Home Preservation Services’s allegedly fraudulent actions should be prosecuted as mortgage fraud.

Caldwell seeks permanent injunctive relief, restraining the defendant from continuing its “unfair” and “deceptive” acts. He also seeks compensation for the “thousands of dollars” that he claims the defendant fraudulently took from homeowners, civil fines and penalties and legal and attorney fees.

The case has been assigned to Division F Judge Martin Coady.

Case no. 2014-13358.

 

Back to August 2014 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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