AG Warns of Scams from $25B Mortgage Settlement

Posted To: MND NewsWire

The ink is barely dry on the $25 billion dollar mortgage settlement with banks that is meant, in part, to compensate homebuyers hurt by fraudulent foreclosures but the scam artists are already at the door. The Rhode Island Attorney General is warning consumers in his state that some homeowners have been contacted by individuals claiming to have a list of persons eligible for funds from the settlement and are misrepresenting their credentials. Attorney General Peter F. Kilmartin said that persons have been reported to be posing as bank employees or settlement administrators and requesting bank account information in order to deposit settlement funds into the homeowner’s account. Kilmartin said none of the lenders, who will eventually be responsible for contacting eligible homeowners, have yet…(read more)

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