Industry NewsMortgage

Florida sues foreclosure rescue firm

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More than 600 Florida homeowners are believed to have signed up for a foreclosure rescue scheme offered by a company that allegedly advised them not to make mortgage payments to their lenders and instead pay the company about 60 percent of their monthly payments instead.The Florida Attorney General's Office has sued Outreach Housing LLC, claiming the company didn't work with lenders to reduce clients' mortgage debt as promised. Owners Blair L. Wright and Bryan E. Berry are named in the deceptive practices suit, which stems from an investigation by the attorney general's Mortgage Fraud Task Force.The lawsuit seeks consumer restitution and civil penalties of $10,000 per violation of Florida’s Deceptive and Unfair Trade Practices Act. The Attorney General's Office says it has also asked the court to prohibit the defendants from engaging in any business activity related to the residential and commercial real estate business, including mortgage financing, sales and or brokerage. *** What'...