AG Files Lawsuit Alleging Mortgage Rescue Scam

December 12, 2013 
mortgage lending news

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.

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.