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Loan Modification

: Mortgage Lender Implode-o-Meter

New Hope Settles Loan Modification Suit

By Implode-Explode Heavy Industries

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"A New Jersey-based loan modification company has agreed to pay $10 million to settle charges that it defrauded homeowners who were behind on their mortgages. Two of the company's agents also agreed to pay damages, and will have their licenses revoked.

The payment by New Hope Property LLC stemmed from a lawsuit alleging that the company took money from struggling consumers and then failed to deliver on promises that it would help rescue their struggling mortgages.

Full post as published by Mortgage Lender Implode-o-Meter on May 01, 2010 (boomark / email).

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