Posted by Michelle/AL on 12/28/09 4:35pm
Msg #315885

Best Interest Rate Mortgage vs. Idaho Customers

I received this tweet today from a mortgage company that I follow on Twitter. It's not a lot of money but "something is better than nothing".

http://www.koze950.com/2009/12/28/idahoans-to-receive-refunds-from-new-jersey-mortgage-modifier/


Attorney General Lawrence Wasden says Idaho homeowners who were duped into paying a New Jersey company to help them modify their mortgages will get more than $19,000 in a settlement.

Wasden says the investigation into Weston, New Jersey-based Best Interest Rate Mortgage Company LLC began with a complaint about a direct-mail advertisement.
The ad offered a special loan modification programs as part of the gEconomic Stimulus Act of 2008 and appeared to have come from the U.S. government.

The attorney generalfs office says the company charged Idaho homeowners upfront fees ranging from $1,000 to $1,800 before the mortgage modifications were completed, which Idaho law prohibits.

The company, which has denied wrongdoing, was ordered to pay the 12 homeowners $19,710. (AP)