California Loan Scam Shut Down, Penalized


Posted on Jul 25, 2012

California Attorney General Kamala D. Harris has announced that defendants who ran a national loan modification scam have been ordered to pay more than $4 million in penalties and restitution. This includes more than $2 million to consumers who were falsely promised modifications of their mortgage loans. Over 1,000 customers paid more than $2 million for loan modification services to Statewide Financial Group Inc., which did business as US Homeowners Assistance and Webeatallrates.com since January 2008.

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