Kansas AG Probes Firm's Activities For Possible Deception In Buying Up Redemption Rights From Foreclosed Homeowners

In Witchita, Kansas, The Witchita Eagle reports:

• The Kansas Attorney General's Office is investigating complaints alleging "unconscionable business practices" by a Wichita company that buys and sells homes in foreclosure. Attorney general spokeswoman Ashley Anstaett said she couldn't say more about the complaints against Liberty Asset Management. But Liberty's critics, including some of its competitors, accuse it of taking advantage of people in foreclosure.

• One instance they cite involves Liberty buying property rights for $10, allowing it to claim almost $20,000 in equity that would have gone to a deceased resident's heirs. The issue centers on Liberty's methods in getting people to sell so-called redemption rights to their property.

For more, see Kansas attorney general investigates home buyer-seller's foreclosure practices.