Foreclosure consultant Bruce Bonson is under legal scrutiny in Indiana after his company, Liberty Credit Law, allegedly took advantage of mortgage borrowers who paid to have their loans modified.
According to a lawsuit filed by state Attorney General Greg Zoeller, one homeowner in Lake County and another in Jasper County paid the firm thousands of dollars upfront but never received the promised services or refunds. "Unfortunately, desperate homeowners are enticed by promises of lower monthly payments or a guaranteed refund by those claiming to be foreclosure consultants," according to Zoeller, who said Liberty Credit's practices violate Indiana consumer protection laws.
"In reality, these companies aren't providing any service that the homeowner can't do themselves by reaching out to their mortgage servicer." He is asking the court for injunction against the company as well as civil penalties, investigative costs, and restitution for the borrowers.