The crackdown on shady mortgage rescue scams has begun across the nation and is alive and well right here in Illinois. Last week, the Illinois Attorney General sued several companies under the Illinois Mortgage Rescue Fraud Act.
According to the Chicago Tribune, the four complaints that were filed in Cook County Circuit Court included:
- Capital Foreclosure Solutions of Chicago and company President Katen (Keith) Pabley; SGM Mortgage Inc., of Lyons and company President Scott Kotalik; United Home Solutions, Inc. of Happy Valley, Ore.; and The Mack Financial Group Inc. of Henderson, Nev.
- Midwest Foreclosure Solutions of Norridge and company President Judel James Robert; and Maria C. Scardicchio.
- People’s First Financial of San Diego.
- Loan Modification Inc. of Lombard and company President Edward J. Galowitch.
According to the complaints, the Illinois Attorney General charged that the companies collected fees up front with the promise of helping borrowers negotiate with mortgage lenders then failed to perform any services. Illinois is not the only state where the Attorney General is going after fraudulent loan modification firms – but it is the one that people here in Illinois are closest to.
If you have been a victim of one of the listed companies, be sure sure to contact the Illinois Attorney General’s office for more information.
