Central Florida Loan Modification Firm Agrees To Fold After State AG Probe Into Complaints Of Alleged Deceptive Trade Practices

In Orlando, Florida, the Orlando Sentinel reports:

• Organizers of Orlando-based Homestead Protection Services LLC have agreed to disband the operation and pay more than $25,000 to settle a state investigation into suspect "foreclosure-rescue" services, state authorities said Friday. Homestead's owners also agreed to refrain from future violations of the state's deceptive-trade-practices law, according to the Attorney General's Office. The company will pay $20,000 in restitution to consumers and $5,000 to cover the costs of the probe. State investigators said Homestead charged up-front fees ranging from $997 to $3,500 to help consumers try to get out of mortgage trouble. The state also found Homestead misled consumers about refund policies and the services that it would actually provide. Investigators fielded a number of complaints about false promises and refund denials by the company.

Source: Foreclosure-rescue firm disbands.

For the Florida Attorney General's press release, see Settlement Obtained in Orlando Mortgage Fraud Case.